CB declines permit renewal for 15 money changers

The Monetary Board of the Central Bank has decided not to renew the money-changing permits of 15 money changers (MCs) for the year 2023 due to non-compliance with a condition of the permits issued for the year 2022, which was communicated to the respective MCs on February 22, 2023.

The 15 MCs are: Aruna Forex (Pvt) Ltd., Brescia Grameen (Pvt) Ltd., Jeya Forex Exchange (Pvt) Ltd., Kamal Enterprises (Pvt) Ltd., Kudamadu Money Exchange (Pvt) Ltd., Midna Mini Market (Pvt) Ltd., New Lanka Gold House (Pvt) Ltd., Rafeek’s Gems (Pvt) Ltd., Rimha Jewellers (Pvt) Ltd., Salaka Trust Investments (Pvt) Ltd., Sharanga Money Exchange (Pvt) Ltd., Sornam Forex (Pvt) Ltd., Thamasha Forex (Pvt) Ltd., Universal Money Changers (Pvt) Ltd., and Vasanthas International Money Exchange (Pvt) Ltd.

“Accordingly, the public is hereby informed that the companies listed above are no longer permitted to engage in money-changing activities, and buying, selling and exchanging foreign currency with such companies are considered as a contravention of the provisions of the Foreign Exchange Act, No. 12 of 2017,” the Central Bank said.