CBSL issues fresh notice on prohibited pyramid schemes

Saturday, 22 March 2025 00:21 - - {{hitsCtrl.values.hits}}

The Central Bank of Sri Lanka (CBSL) has issued a special notice regarding prohibited pyramid schemes.

According to the notice, the CBSL has determined that Pro Care Ltd., and Shade of Procare Ltd., have been operating illegal pyramid schemes in violation of Section 83(c) of the Banking Act, No. 30 of 1988, as amended. In addition, the CBSL has informed the general public about other institutions that have engaged in pyramid schemes, as outlined under Section 83(c) of the same banking Act.

As per the latest notice the CBSL listed 21 prohibited schemes.

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