Feb 05, 2017

Central Bank bans media from using its logo

Sri Lanka Central Bank has banned the using of its official logo in social media and websites and such web sites should not use the logo in news items relating to the country’s monetary regulator, the CB announced in a news paper advertisement.

But it was not clear as to whether this ban is applied to electronic media or not. This directive was issued in the wake of President’s appointment of three member presidential commission to probe the controversial bond issue and its report to be issued within the next three weeks.

Economic experts were of the view that up-to-date computation now reveals the astonishing result that the extra commitment for the government as a result of the increase in the interest rate has now reached a staggering Rs. 55 billion!.

The significance of the logo is to help the reader identify the organization, assure the readers that they have reached the right article containing critical commentary about the organization, and illustrate the organization's intended branding message in a way that words alone could not convey.

Because it is a non-free logo, there is almost certainly no free representation. Any substitute that is not a derivative work would fail to convey the meaning intended, would tarnish or misrepresent its image, or would fail its purpose of identification or commentary.

According to copy right law, misusing of logo and using it without permission is a punishable act but there was a grey for the usage of logo in news items of media.

The Central Bank has created another controversy in banning the use of its logo in social media and web sites, legal experts said adding that the bank has to tackle serious financial matters rather than embroils in minor matters such as logo issue spending millions of rupees for advertisements.