Central Bank issues money broking regulations

Monday, 11 February 2013 - 12:29

Central+Bank+issues+money+broking+regulations+++

 

The Central Bank of Sri Lanka, considering the necessity for improving the operations in the domestic money and foreign exchange market by increasing the coverage of monitoring activities on different types of financial institutions operating in the economy and to facilitate strengthening of financial system stability has issued the “Money Broking Regulations Number 1 of 2013” under Section 10 (c) of the Monetary Law Act, No. 58 of 1949. T

The Regulations will be effective from February 15th , 2013.

Under the new Regulations, both the existing money brokers and the new firms who intend to enter into the money broking activities shall obtain the “Certificate of Authorization” issued by the Monetary Board of the CBSL.



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