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CB declines permit renewal for 15 money changers

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10 July 2023 04:00 pm - 12     - {{hitsCtrl.values.hits}}

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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.

 

 

 


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  Comments - 12

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  • Sri Lanka Association of Professional Engineers Monday, 10 July 2023 04:22 PM

    Introduce automated money changing ATMs to avoid malpractices as all transactions are log recorded. Use technology to combat corruption

    Raymon Monday, 10 July 2023 04:38 PM

    The permits were cancelled in Feb 23 and public is ( Jul 23 ) notified today !

    Gamarala SL Monday, 10 July 2023 04:48 PM

    Looks like another collapse soon...

    Arnold Monday, 10 July 2023 05:17 PM

    Other countries thrive, because their governments encourage and facilitate private enterprise. I know many tea exporters who got their license cancelled for silly reasons and not dancing to the tune of the arrogant government officials. In Lanka the govt officials see businessmen as criminals and do their best to make their lives as hard as possible and stop their businesses.

    Sam Silva Monday, 10 July 2023 06:18 PM

    @ arnold Very true. You really can't hold the officials as arrogant. Our master is arrogant and gives instructions. Also cb is under his command. Everyone who works for him has a slave.

    Sam Silva Monday, 10 July 2023 06:25 PM

    How many institutions we have non compliance. Also what about the cb stolen money. Did you implement any compliance to recover. All those in power now and including the cb governor involved. He is given the governor position. We are very decipline country.

    ANNECUNT Monday, 10 July 2023 06:32 PM

    MR BASIL RAJAPAKSA GETS THE STOLEN RUPEES CHANGED TO US DOLLARS BEFORE TAKING TO AMERICA

    Asoka Peris Monday, 10 July 2023 06:44 PM

    Absolutely true. Bribe the correct politician or a henchman - Any business can thrive in this corrupt country.

    Kevin Monday, 10 July 2023 10:47 PM

    Why are they forced to sell at the bank rate. They should compete

    Jayantha Monday, 10 July 2023 11:25 PM

    Lol. It is high time to get rid of cb and setup a new authority cable of identifying modern and future ways where we can make revenue as a country. Other countries encourage new methods while these jokers stick to old methods and ruine the country. For example cb is totally responsible for not getting paypal like facilities on time to Sri Lanak when countries like Philippines and Malaysia are way ahead of local cb jokers. These cb jokers only cable of blocking anything possible rather than open markets and get the benefits.

    Shame Tuesday, 11 July 2023 12:58 AM

    No one question and make a genuine attempt to ARREST THE SLPP THIEVES. How Central Bank BOND SCAM TOOK PLACE.? All these rules are enacted and practised for small players. BIG SHARK damage the Net and Vanish. What action CB governor is taking taking to bring Arjuna Mahendran to Sri Lanka to investigate?

    Problem solved Tuesday, 11 July 2023 03:49 AM

    One money changer was declined renewal in Colombo and the owner started another one right beside the old one with a different name and told everyone to come to the new place.


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