Business · Sri Lanka Bureau
RTI Commission designates private bank as public authority
Sri Lanka's Right to Information Commission has ruled that a licensed private bank must be treated as a public authority subject to RTI disclosure requirements. The decision marks a significant expansion of transparency obligations in the country's financial sector.
LSN Sri Lanka ·
The Right to Information Commission has determined that a licensed private bank operating in Sri Lanka qualifies as a public authority under the Right to Information Act, requiring it to comply with information disclosure obligations applicable to state institutions.
The ruling establishes an important precedent regarding the scope of the RTI Act's application to private sector entities. The Commission's decision suggests that private banks, despite their commercial nature, may have sufficient public interest dimensions or state involvement to warrant classification as public authorities.
This determination could have far-reaching implications for financial transparency and public access to information held by private banking institutions. It potentially extends RTI protections to customers and citizens seeking disclosure of information related to banking operations and decisions.
The ruling reflects ongoing efforts to strengthen transparency mechanisms across Sri Lanka's economy. The decision may prompt further applications to the RTI Commission regarding the classification status of other private financial institutions and large commercial entities with significant public engagement.
The bank in question will now be required to establish procedures for responding to RTI requests from members of the public, in line with requirements that govern state institutions and other recognized public authorities.