Monetary Board of the Central Bank has decided to issue a notice of cancellation of licence granted to Central Investments and Finance.
The Monetary Board has taken this decision at its meeting held on 06.11.2017 in terms of Section 37 (1) of the Finance Business Act No. 42 of 2011 (FBA).
According to a letter sent to the CSE, the Central Bank said the notice of cancellation was communicated to the company on 17.11.2017.
Monetary Board, however, said the Company may tender objections in writing to the Board, in which case the Board may consider the objection and further action may be determined.
Monetary Board of the Central Bank further stated that future regulatory actions will be informed in due course.