Money Changers warned of license suspension : CBSL

29 March 2022 02:42 am Views - {{hitsCtrl.values.hits}} 6 Bookmark

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Money Changers have been informed that their licenses would be suspended/ revoked if they transact any foreign currency transactions at rates beyond the rates stipulated by Licensed Banks, the Central Bank of Sri Lanka (CBSL) announced last night.

The public is hereby notified that in terms of the provisions of the Foreign Exchange Act, No. 12 of 2017, Money Changers have been prohibited from offering higher exchange rates to customers beyond the exchange rates offered to such Money Changers by Licensed Banks, it said. The public is requested to inform the Department of Foreign Exchange via the following telephone numbers or the email address of any instances that a Money Changer offers higher exchange rates for any transaction.

nTelephone : 0112398523 - 0112398827 - 0112477375 - 0112398568
nEmail : [email protected]

Comments - 6

Stink Tuesday, 29 March 2022 07:17 AM

The final nail in their coffin???

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Lumbini Tuesday, 29 March 2022 07:33 AM

If you want a flexible exchange rate, why you are trying to impose restrictions on money changers? Or else, have a dual exchange rate.

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DPerera Tuesday, 29 March 2022 08:08 AM

If Rupee is floated why is this new rule?

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Terrence Tuesday, 29 March 2022 08:26 AM

What veil threats by the CBSL when a concerted effort is made to mobilize dollars by being a dog in the manger when the banking system had no innovative ideas

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Premalal Perera Tuesday, 29 March 2022 08:35 AM

The clown of the Central Bank is at it again. He is trying to go against the market which governs the exchange rate. Undiyals will be back before you could say Sri Lanka Rupee.

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BE FAIR Tuesday, 29 March 2022 08:43 AM

So they have more $$$ than the CBSL

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