The Central Bank of Sri Lanka (CBSL) has issued a directive prohibiting the unauthorized use of the word ‘finance’ in business names or descriptions, in accordance with the Financial Business Act, No. 42 of 2011.
As per sub-section 10(2) of the Act, only licensed financial companies or institutions specified under sub-section 10(6) are permitted to use terms such as ‘finance’, ‘financing’, or any variation of these words in their business names. Any use of these terms without prior written approval from the Central Bank constitutes a violation of the Act.
Entities that fail to comply will be considered guilty of an offence under sub-section 56(4) of the Act. The public is strongly advised to adhere to this regulation.
For inquiries, contact the Department of Supervision of Non-Banking Financial Institutions at 0112 477 504 or snbfi_query@cbsl.lk.
