Bank Supervision Continuous supervision and periodic examination of all banking institutions in Sri Lanka.
Centre for Banking Studies Provision of training for persons involved in rural and commercial banking.
Currency Issue of legal tender currency and ensuring the availability of currency notes and coins in sufficient quantities.
Department of Supervision of Non-Bank Financial Institutions Supervision of finance companies
Domestic Operations Department  Implementation of monetary policy measures, Conducting open market operations (OMO), implementation of  the lender of last resort facility, statutory reserve requirements and monitoring  developments in the domestic money market and formulation of policies and guidelines for the development of the domestic money market.
Economic Research Research for the guidance of the Monetary Board and for the information of the public.
Employees’ Provident Fund Management of the funds of the main superannuation fund in the country.
Human Resources Implementation of policy proposals pertaining to recruitment, Promotion, retirement, remuneration, disciplinary procedures and matters related to Bank employees.
Exchange Control Implementation of exchange control regulations.
Finance Department  Maintaining Bank’s internal accounts establishing an efficient budgetary control system, preparation of monthly balance sheet and annual accounts of the Bank in line with international accounting standards.
Information Dissemination of information on the activities of the Bank, release of Bank publications and providing library.
Information Technology Computer related activities of the CBSL and the maintenance of the Automated Cheque Clearing facility in Sri Lanka.
International Operations Department Management of the official international reserve and  all other functions relating to portfolio management of official foreign exchange reserve and implementation of the exchange rate policy.
Legal provision of legal services for the Bank
Management Audit Internal audit and management services.
Payment and Settlement Department Ensuring the safety, efficiency, integrity and stability of the systems of payments and settlements of monetary transactions; designing, imlementing and operating of Real Time Gross Settlement system;attending to back office functions of International Operations Department and Open Market Operations of the CBSL.
Premises Acquisition, consultation and maintenance of land and building and providing transport facilities.
Public Debt Management of the public debt of Sri Lanka.
Regional Development Development of financial facilities in the rural sector, Operation of credit and credit guarantee schemes for the provision of development finance and monitoring the work of Regional officers, Regional Development Banks and the special projects.
Secretariat Provision of administrative services for the Bank.
Security Services  Provision of security for Bank employees and Bank property and premises.
Statistics Collection, compilation, analysis and presentation of economic statistics.
Training Training of technical personnel in the areas of money, banking, statistics, finance & other economic subjects.
Welfare Provision of welfare services to the Bank’s staff in a systematic manner.