Regulatory Alerts2025-12-02 | Circular No. 3 of 2025Amendments to Circular No. 03 of 2024 on Mobile Banking Unit Guidelines for Licensed Commercial Banks
The Central Bank of Sri Lanka has amended Circular No. 03 of 2024 to clarify prior approval requirements for Mobile Banking Units operated by licensed commercial banks. The revised guidelines exempt certain activities, including loan applications, product promotions, digital onboarding, and advisory services, from prior approval provided they involve no cash transactions. Banks intending to conduct other mobile banking activities must submit form BSD-MBU-01 with an executive-signed cover letter at least ten working days before commencing operations.
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