Regulatory Alerts2023-12-22 | Circular No. 3 of 2023Annual Certificate Fee of Authorized Money Broking Companies
The Central Bank of Sri Lanka issued Circular No. 03 of 2023 to establish the annual certificate fee for Authorized Money Broking Companies at Rs. 350,000 plus applicable government taxes. The directive mandates that all authorized brokers must pay this fee on or before January 31st of each year. Additionally, a one-time application processing fee of Rs. 20,000 is required for new applicants seeking their first Certificate of Authorization.
ශ්රී ලංකා මහ බැංකුව இல ங்கை மத்திய வங்கி CENTRAL BANK OF SRI LANKA
දේශීය මෙහෙයුම් කටයුතු දෙපාර්තමේන්තුව உள்நாட்டு தொழிற்பாடுகள் திணைக்களம் Domestic Operations Department
Circular No. : 03 of 2023
22 December 2023
To: All Authorized Money Brokers
ANNUAL CERTIFICATE FEE OF AUTHORIZED MONEY BROKING COMPANIES
Your attention is invited to the Regulation 7(a) of the Money Broking Regulations No. 01 of 2018. In the exercise of powers conferred by the said Regulation, the Central Bank of Sri Lanka has determined the following:
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The annual certificate fee of an Authorized Money Broking Company shall be Rupees Three Hundred and Fifty Thousand (Rs. 350,000.00) together with the Government taxes, if any, until further notice;
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Every Authorized Money Broking Company shall pay the said annual certificate fee on or before 31st of January each year;
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An application processing fee for issuing the Certificate of Authorization to an applicant company to engage in the business of money broking for the first instance shall be Rupees Twenty Thousand (Rs. 20,000.00) along with the annual certificate fee, and the applicable taxes, if any.
All Authorized Money Brokers are required to comply with the above requirements with effect from the date of this Circular.
(Signature) Dr. R A Anil Perera Director/Domestic Operations
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