CBSL advises against wilful mutilation and defacement of currency notes

March 21, 2024 02:41 pm

The Central Bank of Sri Lanka (CBSL) has raised concerns about the recent trend of using currency notes to prepare ornaments and gift items and promotion of such activities through social media.

In a special notice issued to the members of the public, the CBSL’s Superintendent of Currency advised against wilful mutilation or defacement of currency notes.

Pursuant to Section 55 of CBSL Act, No. 16 of 2023, any person found guilty of cutting or perforating; affixing any seal or stamp by printing, stamping or drawing on; attaching or affixing things to; reproducing or making a facsimile of currency notes; or using such mutilated or defaced notes as a legal tender would be subjected to a fine of Rs. 25 million, imprisonment of up to 3 years or both.

As such, the CBSL urged the members of the public to refrain from engaging in the aforementioned unlawful activities.

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