Prasanna Money Exchange’s permit revoked by CBSL

The Central Bank said that after conducting an inquiry into the non-compliances committed by Prasanna Money Exchange 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, Mudalige Mawatha, Colombo 01 and Galle Road, Colombo 06, respectively, the Monetary Board has decided to permanently revoke the permit No. DFE/RD/0058 issued to Prasanna Money Exchange in terms of section 11 (3) of the Foreign Exchange Act No. 12 of 2017 (the Act).

The public is hereby informed that Prasanna Money Exchange (Pvt) Ltd is no longer permitted to engage in money changing activities as an Authorized Money Changer and buying, selling and exchanging foreign currency with Prasanna Money Exchange is considered as a contravention of the provisions of the Act.