Regulatory Alerts2022-02-28 | General Direction No. 03 of 2022General Direction No. 03 of 2022 - Operations of the Common Electronic Fund Transfer Switch
The Monetary Board of the Central Bank of Sri Lanka issued General Direction No. 03 of 2022 to regulate the operations of the Common Electronic Fund Transfer Switch (CEFTS) operated by LankaClear. This directive replaces the 2018 version and establishes binding responsibilities for LankaClear and CEFTS Members regarding system operations, membership agreements, and adherence to CBSL limits. It mandates strict requirements for business continuity planning, disaster recovery, confidentiality, and real-time transaction reporting to ensure the stability and security of domestic interbank fund transfers.
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