Sri Lanka regulator halts deposit taking by Marlon Fernando forex unit

Dec 24, 2025 11:15 AM

by

Sienna De Silva

The Central Bank of Sri Lanka has taken action against Marlon Fernando International Forex Exchange Unit Pvt Ltd and Kurukulasooriya Firmie Marlon Fernando, prohibiting them from accepting new deposits and instructing them to repay all outstanding deposit liabilities.

This decision follows an investigation carried out under Section 42 of the Finance Business Act No. 42 of 2011. The Central Bank found that both the company and the individual had accepted deposits in violation of the Act.

As a result, the Central Bank has issued specific directives to both parties:

They are not permitted to accept deposits from the public, either by issuing promissory notes or through any other method.
They are required to repay all remaining deposit liabilities associated with the company and the individual.

(Colombo/Dec24/2025)

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