Regulatory Alerts2018-10-23 | Circular No, 7 of 2018Liability Manager Limits in LankaPay Common ATM Switch and LankaPay Common Electronic Fund Transfer Switch
The Central Bank of Sri Lanka issued Circular No. 07 of 2018 to address transaction rejections by imposing a multi-tiered Liability Manager limit structure on Primary Members of the Common ATM Switch and Common Electronic Fund Transfer Switch. The regulation categorizes members into three groups and mandates specific minimum limit thresholds for each category to ensure effective payment and settlement services. LankaClear is required to implement these limits effective November 1, 2018, while the Central Bank retains the authority to periodically review and revise the categorizations and limits.
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