Regulatory Alerts2016-10-27 | Rule No. 2 of 2016Microfinance Act Rules No. 02 of 2016: Licence Fee
The Central Bank of Sri Lanka issued the Microfinance Act Rules No. 02 of 2016 to establish the licence fee structure for Licensed Microfinance Companies. The rules mandate an initial fee of Rs. 50,000 payable upon licensing and require annual fees ranging from Rs. 50,000 to Rs. 250,000 based on the company's total assets. These annual payments must be submitted to the Central Bank on or before January 31st of each respective year.
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