Central Bank cancels licenses of 15 money changers

The Central Bank has cancelled the permits of 15 (foreign) money changers across Sri Lanka for 2023 owing to violations of the permits issued in 2022.

“Accordingly, the public is hereby informed that these companies 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 banking regulator said in a statement on Monday.

The errant money changers are: Aruna Forexc (Pvt) Ltd (Nuwara Eliya), Brescia Grameen (Pvt) Ltd (Negombo), Jeya Forex Exchange (Pvt) Ltd (Colombo 3), Kamal Enterprises (Pvt) Ltd (Colombo 1), Kudamadu Money Exchange (Pvt) Ltd (Mahawewa), Midna Mini Market (Pvt) Ltd (Wennappuwa), New Lanka Gold House (Pvt) Ltd (Horana), Rafeek's Gems (Pvt) Ltd (Colombo 1), Rimha Jewellers (Pvt) Ltd (Puttalam), Salaka Trust Investments (Pvt) Ltd (Colombo 2), Sharanga Money Exchange (Pvt) Ltd (Jaffna), Sornam Forex (Pvt) Ltd (Kalmunai), Thamasha Forex (Pvt) Ltd (Chilaw), Universal Money Changers (Pvt) Ltd (Colombo 6), and Vasanthas International Money Exchange (Pvt) Ltd (Kandy).