The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to permanently revoke the money changing permit issued to Prasanna Money Exchange (Pvt) Ltd.
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 CBSL has decided to permanently revoke the relevant permit, in terms of section 11 (3) of the Foreign Exchange Act No. 12 of 2017 (the Act).
The general public is informed that Prasanna Money Exchange (Pvt) Ltd is no longer permitted to engage in money changing activities as an Authorized Money Changer, the central bank said.
In a statement, the CBSL also emphasizes that buying, selling and exchanging foreign currency with Prasanna Money Exchange (Pvt) Ltd is considered as a contravention of the provisions of the Act.
