CBSL suspends renewal of permits of 15 private foreign exchange dealers

The Monetary Board of the Central Bank of Sri Lanka has decided against renewing the money changing permits of 15 Money Changers (MCs) for the year 2023 due to the non-compliance with a condition of the permits issued for the year 2022, which was communicated to the respective MCs on 22.02.2023.

The 15 private MCs and their business addresses are as follows: 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) Ltd – No 59, Ratnapura 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, Sornam Forex (Private) Limited – No 59, Batticaloa Road, Kalmunai, Tamasha Forex (Private) Limited – No 131, Bazzar Street, Chilaw, Universal Money Changers (Pvt) LTd – No 143A, Galle Road, Colombo 06 and Vasanthas International Money Exchange (Pvt) LTd – No 56, DS Senanayake Veediya, Kandy.

“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.