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Central Bank fines two banks

written by NHL Werasinghe Source

An official announcement has revealed that the Central Bank of Sri Lanka has fined two private banks and a jewellery company.
MCB Bank Ltd and Bank of China Ltd have been fined one million rupees each. The fines were imposed for violating the Financial Transactions Reporting Act No. 06 of 2006 and the rules, regulations, and orders issued thereunder.
Vogue Jewelers Private Limited was also fined 750,000 rupees for the same act. The Financial Intelligence Unit of the Central Bank of Sri Lanka has fixed the fines in investigations carried out from May to October this year.

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written by NHL Werasinghe Source

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