Financial Institutions
Financial Institution (FI) Description

Licensed Commercial Banks (LCBs)

25 LCBs registered under Banking Act No. 30 of 1988 in order to carry out banking business of receiving funds from the public through the acceptance of money deposits, payable upon demand by cheque, draft, order or otherwise, and the use of such funds for advances, investments or any other operation authorized by law, are coming under this.

Licensed Specialized Banks (LSBs)

7 LSBs registered under Banking Act No. 30 of 1988, are coming under this. These banks are authorized to engage in funding industrial activities, agricultural activities, real estate activities or other economic activities other than accepting and maintaining time and savings deposits.

Licensed Finance Companies (LFCs)

45 LFCs registered under Finance Business Act No. 42 of 2011 to carry out business of acceptance of deposits and lending of money and/or investment of money are fallen into this category.

Stock Brokers(SBs)

33 Stock Brokering Companies listed under Securities and Exchange Commission of Sri Lanka Act, No. 36, participating in securities issues on behalf of a client and the provision of financial services related to such issues are included here.

Insurance Companies (ICs)

27 Insurance Companies registered with the Insurance Regulatory Commission of Sri Lanka are pertaining to this category.

Money or Value Transfer Service (MVTS) Providers

3 MVTS Providers who involve in transfer of money or value are coming under this category.

Restricted Dealers (RDs) (formerly Authorized Money Changing Companies)

70 Companies authorized to buy and exchange foreign currency notes, encash Traveler’s Cheques, and/or sale foreign currency notes in terms of the provisions of the Foreign Exchange Act, No. 12 of 2017 are included in this category.

 

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Rules & Directions
 

Year Description Applicability

2019

  • Insurers (Customer Due Diligence) Rules, No. 1 of 2019 - Extraordinary Gazette No. 2123/14, May 13 of 2019
IC

2018

  • Amendments to the Rules for Financial Institutions (Customer Due Diligence) Rules, No. 1 of 2016 - Extraordinary Gazette No 2092/02, October 08 of 2018
All FIs

2016

  • Rules for Financial Institutions (Customer Due Diligence) Rules, No. 1 of 2016 - Extraordinary Gazette No 1951/13, January 27 of 2016
All FIs

2007

IC

 
Circulars
 

Year Description Applicability

2019

LCB, LSB

2018

LCB, LSB, LFC

2017

All FIs

2016

All FIs

2015

LCB, LSB

2014

RD

2014

LCB, LSB, LFC

2014

SBs

2014

IC

2013

LCB, LSB, LFC, IC, SBs

2013

LCB, LSB, LFC

2013

IC

2013

SBs

2012

LCB, LSB, LFC, IC, SBs

2012

LCB, LSB

2012

SBs

2012

IC

2012

LFC

2012

LCB, LSB

2011

LCB, LSB, LFC, IC, SBs

2011

LFC

2011

LCB, LSB

2010

IC

2010

SBs

2009

LCB, LSB

2009

LFC

2009

LCB, LSB

2009

IC

2009

LCB, LSB

2009

LFC

2008

LCB, LSB

2008

LCB, LSB, LFC

2008

LCB, LSB

2008

LCB, LSB

2008

SBs

2008

IC

2007

LCB, LSB, LFC

2007

LCB, LSB, LFC

2007

LCB

2007

LCB

2006

LCB, LSB, LFC

2006

LCB, LSB

2006

LCB, LSB

2006

LCB, LSB

2006

LCB, LSB