Regulatory Alerts2024-01-19 | Circular No. 1 of 2024Regulatory Compliance Requirements to Authorised Money Broking Companies
The Central Bank of Sri Lanka issued Circular 01 of 2024 to inform all Authorised Money Broking Companies that they are now classified as Financial Institutions under the Central Bank of Sri Lanka Act No. 16 of 2023. This directive mandates strict adherence to all provisions of the Money Brokering Regulations, as non-compliance will trigger regulatory actions under clause 21. The classification change took effect on 14 September 2023 for entities holding authorisation under the relevant regulations.
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