Regulatory Alerts2018-01-16 | Direction No. 1 of 2018Financial Customer Protection Framework
The Monetary Board of the Central Bank of Sri Lanka issued Direction No. 01 of 2018 to mandate Licensed Finance Companies to implement a Financial Customer Protection Framework. The directive requires institutions to adhere to minimum standards including transparency, responsible business conduct, equitable treatment, and robust data privacy measures. Compliance must be achieved within three months through board oversight, employee training, and the establishment of accessible complaint redress mechanisms.
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