Regulatory Alerts2018-06-18 | Gazette No. 2061/7Added · Updated
Money Broking Regulations No. 1 of 2018
These regulations repeal and replace the Money Broking Regulations No. 1 of 2013, becoming effective on 05 March 2018. They prohibit engaging in money broking without a Certificate of Authorization issued by the Monetary Board of the Central Bank of Sri Lanka. Eligible applicants must be limited liability companies with a minimum stated capital of Rs. 10,000,000 and must submit specific documentation, including feasibility reports and affidavits, to the Director, Domestic Operations. The regulations impose strict requirements on fit and proper assessments for key officers and significant shareholders, internal controls, transaction confirmations within 15 minutes, and real-time reporting via the Central Integrated Market Monitor.
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