The Central Bank of Sri Lanka (CBSL) announced that the permit for money exchange services to Prasanna Money Exchange (Pvt.) Ltd. is to be permanently revoked.
In a statement, the CBSL said: “After conducting an inquiry into the non-compliances committed by Prasanna Money Exchange (Pvt.) Ltd. upon 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, Colombo 06, respectively, the Monetary Board of the Central Bank of Sri Lanka decided to permanently revoke permit No. DFE/RD/0058 issued to Prasanna Money Exchange (Pvt.) Ltd., in terms of section 11 (3) of the Foreign Exchange Act No. 12 of 2017.”
Accordingly, Prasanna Money Exchange (Pvt.) Ltd. is no longer permitted to engage in money changing activities as an authorised money changer, and buying, selling and exchanging foreign currency with Prasanna Money Exchange (Pvt.) Ltd. is considered as a contravention of the provisions of the Act.
