The All Ceylon Gem Miners and Dealers Association submitted a formal proposal to President Anura Kumara Dissanayake in May 2026 calling for a Gem Bank of Sri Lanka and state-held gem reserves alongside gold and foreign exchange.
Association chairman Dr. Thilakasiri Witharana argued that Sri Lankan dealers hold gem stocks worth billions of US dollars but cannot convert that inventory into cash quickly. A national gem bank, in the association's view, would unlock liquidity and channel value into the formal economy.
The proposal also envisions gem reserves as a stability tool, similar in concept to central bank gold holdings. That is politically ambitious and legally complex, but it reflects frustration that national wealth in stones does not appear in export statistics when inventory sits in safes.
Government response at the time of submission was pending review by relevant ministries. Even if a full gem bank does not materialize, the proposal puts inventory finance and formal valuation on the policy agenda ahead of the August 2026 trade fair season.
