【Colombo, Sri】Sri Lanka Urges Gem and Jewellery Dealers to Appoint Compliance Officers

by

Editor’s Note

This directive from Sri Lanka’s central bank and the National Gem & Jewellery Authority mandates all dealers in the sector to appoint a dedicated compliance officer, a key step in strengthening anti-money laundering (AML) safeguards within the industry.

Central Bank and Authority Issue Directive

ECONOMYNEXT – Sri Lanka’s central bank and National Gem & Jewellery Authority have urged gem dealers to appoint a compliance officer for their business to prevent money laundering.

“As per Anti-Money Laundering (AML) laws and regulations, all gem and jewellery dealers are legally required to appoint a Compliance Officer for their business,”

the central bank said in a social media post.

“Proper customer identification during transactions helps prevent money laundering and terrorist financing.”
Penalties for Non-Compliance

Failure to comply may result in penalties imposed by the central bank’s Financial Intelligence Unit (FIU).

Submission Process

The compliance officer declaration form is available at a provided link and via a QR code.

Completed forms must be submitted to the National Gem & Jewellery Authority ([email protected]) or the FIU, Central Bank of Sri Lanka ([email protected]). (Colombo/Oct21/2025)

Full article: View original |
⏰ Published on: October 21, 2025