31 C
Colombo

The CBSL permanently revokes the license for the Wellawatte money exchange

Published:

The Prasanna Money Exchange (Pvt) Ltd location’s money-changing license has been permanently revoked by the Monetary Board of the Central Bank of Sri Lanka (CBSL).

The decision was made, according to a statement from the CBSL, following an investigation into the violations the money-exchange business committed after its permit was temporarily suspended earlier this year.

Full statement:

The Monetary Board of the Central Bank of Sri Lanka decided to permanently revoke the permit No. DFE/RD/0058 issued to Prasanna Money Exchange (Pvt) Ltd. after conducting an investigation into the non-compliances committed by the company following the temporary suspension of the permit issued to the company to engage in the money-changing business at its head office and branch located at No. 42A, Mudalige Mawatha, Colombo 01 and No. 57, Galle Road (the Act).

The public is officially informed that Prasanna Money Exchange (Pvt) Ltd is no longer authorized to engage in money-changing activities and that purchasing, selling, and exchanging foreign currency with Prasanna Money Exchange (Pvt) Ltd is regarded as a violation of the Act’s provisions.

Related articles

Recent articles