RegAlert2024-01-19 | Circular No. 1 of 2024Added · Updated
Regulatory Compliance Requirements to Authorised Money Broking Companies
The Central Bank of Sri Lanka issued Circular 01 of 2024 to inform all Authorised Money Broking Companies that they are now classified as Financial Institutions under the Central Bank of Sri Lanka Act No. 16 of 2023. This directive mandates strict adherence to all provisions of the Money Brokering Regulations, as non-compliance will trigger regulatory actions under clause 21. The classification change took effect on 14 September 2023 for entities holding authorisation under the relevant regulations.
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CENTRAL BANK OF SRI LANKA
Domestic Operations
Department
Circular 01 of 2024
19 January 2024
To: All Authorised Money Brokers,
Regulatory Compliance Requirements to Authorised Money Broking Companies
As you may be aware, with the enactment of the Central Bank of Sri Lanka Act No. 16 of 2023, any Authorised Money Broking Company that has obtained the Certificate of Authorisation under the Money Brokering Regulations No. 1 of 2018 and its amendments of Money Broking Regulations No. 1 of 2019 issued under Section 10 (c) of the MLA, No. 58 of 1949 is identified as 'Financial Institutions' with effect from 14 September 2023.
Accordingly, you are hereby advised to strictly adhere to all provisions stipulated in the said Regulations, as any failure to comply with such provisions would be considered as regulatory non-compliance and hence will be subject to regulatory actions stipulated in clause 21 of such Regulations.
Dr. R. A. Anil Perera
Director/Domestic Operations
+94 112 477036
+94 112 346287
ddod@cbsl.lk
www.cbsl.gov.lk
Level 7, Tower 2
No. 30, Janadhipathi Mawata
P.O. Box 590, Colombo 01, Sri Lanka
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Lineage: In force
Source: Central Bank of Sri Lanka — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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