Regulatory Alerts2013-02-08 | 1796/21 (G)Money Broking Regulations No. 1 of 2013
The Monetary Board of the Central Bank of Sri Lanka issued the Money Broking Regulations No. 1 of 2013 to establish a mandatory licensing regime for money broking activities. The regulations require entities to obtain a Certificate of Authorisation, maintain a minimum stated capital of Rs. 10 million, and adhere to strict operational, internal control, and fit-and-proper person standards. Non-compliance with these provisions may result in punitive actions including warnings, activity restrictions, or the revocation of the authorisation certificate.
Share