Regulatory Alerts2020-02-07 | Rule No. 1 of 2020Application for Renewal of Licence under the Microfinance Act, No. 6 of 2016
The Central Bank of Sri Lanka requires licensed microfinance companies to submit a comprehensive renewal application to the Monetary Board under the Microfinance Act, No. 6 of 2016. The form mandates detailed disclosures regarding the company's core capital, asset quality, lending rates, and business expansion plans, supported by external auditor confirmations. Additionally, all directors and the Chief Executive Officer must provide sworn affidavits and declarations verifying their personal integrity, financial standing, and absence of regulatory disqualifications.
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