Regulatory Alerts2020-11-27 | Payment and Settlement Systems Circular No. 19 of 2020Liability Manager Limits in LankaPay Common ATM Switch and Common Electronic Fund Transfer Switch
The Central Bank of Sri Lanka issued Payment and Settlement Systems Circular No. 19 of 2020 to revise Liability Manager limits for the Common Electronic Fund Transfer Switch while maintaining existing limits for the Common ATM Switch. The directive establishes specific minimum Liability Manager limits for Primary Members categorized into three tiers, allowing for higher limits through mutual arrangements. LankaClear is mandated to implement these limits, which replace Circular No. 07 of 2018 and become effective on 01 December 2020.
Share