Regulatory Alerts2018-08-24 | General Direction No.2 of 2018General Direction No. 02 of 2018 - Operations of the Common Point-of-Sales Switch
The Monetary Board of the Central Bank of Sri Lanka issued General Direction No. 02 of 2018 to regulate the operations of the Common Point-of-Sales Switch (CPS) operated by LankaClear (Pvt.) Ltd. The Direction mandates that all CPS Members and LankaClear adhere to specific operational responsibilities, including compliance with System Rules, fee limits, and reporting requirements. It further establishes strict obligations for business continuity planning, disaster recovery, and confidentiality to ensure the uninterrupted and secure processing of not-on-us POS transactions.
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