SL emerges runner up at SASAC 2025

The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka has issued a directive requiring senior government and judiciary officials, high-ranking military and police officers, and politically active individuals to report all financial dealings conducted with both financial institutions and certain non-financial businesses or professions to the government.

Accordingly, transactions with licensed banks, financial companies, brokerage firms, insurance companies, and foreign exchange dealers must be disclosed.

The reporting requirement also extends to non-financial entities identified by the FIU, including Casino and Real Estate agents, gem and jewelry dealers, accountants, notaries, lawyers, and other independent legal professionals.

Meanwhile, the disclosure rules also apply to individuals holding prominent positions in domestic or foreign governments or international organizations when transacting with the listed financial and non-financial entities.

The FIU has emphasized that for the effective implementation of this measure, all relevant financial institutions, non-financial businesses and professional clients are expected to fully cooperate with the unit.

(Source: Aruna)