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Friday, May 24, 2024

Central Bank issues notice on four Authorised Money Changers

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The Central Bank issued notice on four Authorised Money Changers based in Colombo and Wennappuwa to comply with relevant directions within a specified time period.

This is in response to several complaints that certain Authorised Money Changers are engaged in activities which are not in compliance with the Directions issued under the provisions of the Foreign Exchange Act No. 12 of 2017 (FEA).

The Central Bank is conducting a series of spot examinations at the places of Authorised Money Changers, thereby strengthening the monitoring and supervision of the Authorised Money Changers.

“The general public is also informed that Authorised Money Changers have no authority to transact foreign exchange at rates higher than those offered by the banks to such Money Changers”, the statement issued by the CBSL said.

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