Regulatory Alerts2018-07-25 | General Direction No.1 of 2018General Direction No. 01 of 2018 - Operations of the Common Electronic Fund Transfer Switch
The Monetary Board of the Central Bank of Sri Lanka issued General Direction No. 01 of 2018 to regulate the operations of the Common Electronic Fund Transfer Switch (CEFTS) operated by LankaClear (Pvt.) Ltd. This directive replaces the 2014 version and mandates specific operational, security, and reporting responsibilities for both the operator and CEFTS members. It establishes requirements for business continuity planning, confidentiality, and adherence to system rules to ensure the stability and integrity of domestic interbank real-time fund transfers.
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