Regulatory Alerts2018-06-18 | Gazette No. 2061/7Money Broking Regulations No. 1 of 2018
The Monetary Board of the Central Bank of Sri Lanka issued the Money Broking Regulations No. 1 of 2018 to replace previous regulations and establish a licensing framework for money broking activities. The regulations mandate that entities must obtain a Certificate of Authorization, maintain a minimum capital of Rs. 10 million, and adhere to strict fit and proper requirements for key officers and significant shareholders. Furthermore, authorized companies are required to implement robust internal controls, report transactions via the Central Integrated Market Monitor, and comply with specific codes of conduct to ensure market integrity.
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