Central Bank bans 27 companies and apps over pyramid schemes
Executive Intelligence Dispatch
The Central Bank of Sri Lanka (CBSL) has declared 27 companies, mobile applications (apps) and related entities to be prohibited pyramid schemes under Section 83(C) of the Banking Act No. 30 of 1988, as amended. A notice issued by the Centr.
Key Facts & Findings
- —The Central Bank of Sri Lanka (CBSL) has declared 27 companies, mobile applications (apps) and related entities to be prohibited pyramid schemes under Section 83(C) of the Banking Act No.
- —30 of 1988, as amended.
- —A notice issued by the Central Bank to inform the public states that, following an extensive investigation, it was established [].
Crucial for fiscal stability, CBSL monetary directives, market liquidity, and trade continuity.
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Central Bank bans 27 companies and apps over pyramid schemes
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