CBSL decides not to renew permits of 15 money changers

July 10, 2023 03:27 pm

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided not to renew the money changing permits of 15 money changers (MCs) in the country for the year 2023.

Issuing a statement in this regard, the CBSL explained that the relevant decision was taken due to the non-compliance with a condition of the permits issued for the year 2022.

Thus, the matter was communicated to the respective MCs on 22 June, and they are thereby no longer permitted to engage in money changing activities, including the buying, selling and exchanging of foreign currency.

CBSL further warned that engaging in such activities with said companies will be considered a contravention of the provisions of the Foreign Exchange Act, No. 12 of 2017.

Below are the 15 MCs of which CBSL has decided not to renew the money changing permits:

Aruna Forexc (Pvt) Ltd (No. 22, New Bazaar Street, Nuwara Eliya)

Brescia Grameen (Private) Limited (No. 88/02, Chilaw Road, Kattuwa, Negombo)

Jeya Forex Exchange (Pvt) Ltd (No. 688, Galle Road, Colombo 03)

Kamal Enterprises (Pvt) Ltd (No. 57A, Bristol Paradise Building, York Street, Colombo 01)

Kudamadu Money Exchange (Pvt) Ltd (Main Road, Mahawewa)

Midna Mini Market (Pvt) Ltd (No. 12, Shopping Complex, Wennappuwa)

New Lanka Gold House (Private) Limited (No. 59, Rathnapura Road, Horana)

Rafeek’s Gems (Pvt) Ltd (No. 109, Chatham Street, Colombo 01)

Rimha Jewellers (Pvt) Ltd (No. 4/A, Masjidh Road, Puttalam)

Salaka Trust Investments (Pvt) Ltd (No. 466, Union Place, Colombo 02)

Sharanga Money Exchange (Pvt) Ltd (No. 157/1, Kasturiyar Road, Jaffna)