The Central Bank of Sri Lanka (CBSL) has determined that Singhe Capital Investment Limited illegally accepted public deposits in violation of the Finance Business Act, No. 42 of 2011.
Following an investigation, the CBSL identified the company and the individuals who served as its directors during the relevant period as being responsible for the violation.
Accordingly, the Central Bank has directed Singhe Capital Investment Limited and its relevant directors to immediately cease accepting deposits from the public.
The CBSL also urged the public to exercise caution when dealing with companies that are not legally authorised to accept deposits and advised individuals to verify that a financial institution is properly regulated before entering into any financial transaction.
