The Central Bank of Sri Lanka (CBSL) has taken action against Ruwala Investment (PVT) LTD for engaging in unauthorized finance business and deposit-taking.
Issuing a notice, the CBSL said following an investigation, it was determined that the said institution in Galenbindunuwewa has carried on finance business in contravention of the provisions of the Finance Business Act from 2020-2022.
As such, the CBSL has instructed Ruwala Investment (PVT) LTD not to accept deposits from the public in any manner and to repay all remaining deposit liabilities of the company. (Newswire)
