Regulatory Alerts2022-02-28 | General Direction No. 02 of 2022General Direction No. 02 of 2022 - Operations of the Common ATM Switch
The Monetary Board of the Central Bank of Sri Lanka issued General Direction No. 02 of 2022 to replace the 2013 directive and regulate the operations of the Common ATM Switch operated by LankaClear. The direction delineates specific responsibilities for LankaClear, including system operation and rule-setting, while imposing obligations on CAS Members regarding hardware compliance, cash availability, and settlement procedures. It further mandates robust business continuity planning, strict confidentiality standards, and ongoing regulatory oversight by the Central Bank to ensure the integrity and availability of ATM services.
Share