Prohibited schemes: CBSL bans new company

March 21, 2025 at 4:10 PM

The Central Bank of Sri Lanka has notified the public of 23 entities that have been identified as having been involved in prohibited Pyramid Schemes in Sri Lanka.

Issuing a statement, the Central Bank highlighted that the companies Pro Care (Pvt) Ltd. and Shade of Procare (Pvt) Ltd have also engaged in a scheme prohibited under Section 83 (C) of the Banking Act, No. 30 of 1988, as amended.

The Central Bank added that the disclosure of the name of a company has been withheld in its list due to a court order issued on the company.

The Central Bank of Sri Lanka routinely issues a list of companies involved in prohibited Pyramid Schemes in Sri Lanka, to warn the public to remain vigilant in this regard. (Newswire)