Central Bank names individual in unauthorized deposit-taking case

The Central Bank of Sri Lanka (CBSL) has directed a Dambulla resident to stop accepting deposits from the public and repay all outstanding deposit liabilities following an investigation into unauthorized deposit-taking activities.

In a public notice issued on September 16, the Central Bank said it had determined on July 15, 2026, that Pemadasage Indika Premakumara, a resident of Dambulla, had accepted deposits in violation of the Finance Business Act, No. 42 of 2011.

According to the Central Bank, the individual accepted deposits by issuing promissory notes and entering into loan agreements between 2019 and 2022, contrary to the provisions of the Act.

The determination followed an investigation conducted under Section 42 of the Finance Business Act.

Following the findings, the Central Bank issued two directives to the individual:

* Immediately cease accepting deposits from the public through loan agreements, promissory notes or any other means.

* Repay all remaining deposit liabilities.

The Central Bank published the notice under Section 42(10) of the Finance Business Act in the public interest.

The notice does not specify the total amount of deposits accepted, the number of affected depositors or the value of outstanding liabilities. (Newswire)

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