AUTHORITIES OF CENTRAL BANK OF SRI LANKA HAVE INITIATED REGULATORY ACTION AGAINST FOUR ERRANT AUTHORISED MONEY CHANGERS AGAINST ACTIVITIES NOT COMPLIED WITH CBSL DIRECTIONS

CBSL takes action on errant money changers

The Central Bank of Sri Lanka (CBSL) says it has initiated regulatory actions against four errant Authorized Money Changers engaged in activities which have not complied with directions issued by the central bank.

In response to several complaints that certain Authorized Money Changers are engaged in activities which are not in compliance with the Directions issued under the provisions of the Foreign Exchange Act No. 12 of 2017 (FEA), the Central Bank is conducting a series of spot examinations at the places of Authorized Money Changers, thereby strengthening the monitoring and supervision of the Authorized Money Changers, the CBSL adds.