Kanrich Finance clarifies CBSL-FIU move

Thursday, 3 June 2021 00:00 - - {{hitsCtrl.values.hits}}

The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka (CBSL) issued a press release recently stating that the Unit imposed penalties on a couple of banks/finance companies including Kanrich Finance Ltd., for non-compliance of provisions in the Financial Transactions Reporting Act No. 6 of 2006 (FTRA) inter-alia related updating of United Nations Security Council Resolutions (UNSCR) Sanction lists and Financial Institutions (Customer Due Diligence) Rules as per the FIU rules, regulations and directives.

While acknowledging the regulatory violation, the Company wishes to clarify that this penalty was imposed inter-alia mainly due to a delay in updating and screening the United Nations Security Council Resolutions (UNSCR) Sanction lists. Subsequently, these procedural shortcomings were fully rectified by properly updating the system as to comply with the relevant provisions in the FTRA and related FIU directives.

Kanrich Finance Ltd. is fully committed to abide by all policies, directions, guidelines and rules set out by the regulatory authorities including the Central Bank of Sri Lanka/Financial Intelligence Unit (FIU) and will ensure complete compliance since this promotes good corporate governance and best ethical practices. The company is also socially responsible and safeguards the interests of customers, clients, and shareholders all times to contribute to the building of a stable and resilient financial sector in Sri Lanka.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.