CBSL warns two money changers

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The Central Bank of Sri Lanka (CBSL) has warned two authorised money changers, ordering that they comply with relevant directives issued by the bank.

The bank’s continued spot examinations at the places of authorized money changers have revealed that two outlets have transacted at rates beyond the rates offered to them by Licensed Banks, thereby violating the directions issued to them under the provisions of Foreign Exchange Act No. 12 of 2017.

Accordingly, warning notices have been issued ordering them to comply with the relevant directions, with immediate effect.

In the event the errant money changers fail to rectify the matters communicated through the warning notices, the CBSL will suspend/ revoke the permits issued to them.