The Central Bank of Sri Lanka (CBSL) has issued a public notice naming 08 entities that have conducted prohibited schemes.
The entities named are :
- Tiens Lanka Health Care (Pvt) Ltd.
- Best Life International (Pvt) Ltd.
- Global Lifestyle Lanka (Pvt) Ltd.
- Mark-Wo International (Pvt) Ltd.
- V M L International (Pvt) Ltd.
- Fast 3Cycle International (Pvt) Ltd (F3C)
- Sport Chain App, Sports Chain ZS Society Sri Lanka
The CBSL further stated that any person who directly or indirectly initiates, offers, promotes, advertises, conducts, nances, manages or directs a scheme in contravention of the provisions of Section 83C of the Banking Act, No. 30 of 1988 shall be guilty of a punishable offence.
The complete public notice issued by the CBSL in this regard is as follows :