The Central Bank of Sri Lanka (CBSL) has expressed concerns regarding the growing trend of utilizing currency notes for the creation of ornaments and gift items, as well as the promotion of such practices through social media channels.
In a special notice addressed to the general public, the CBSL’s Superintendent of Currency has advised against the deliberate mutilation or defacement of currency notes.
Under Section 55 of the CBSL Act, No. 16 of 2023, individuals found guilty of actions such as cutting, perforating, affixing seals or stamps through printing, stamping, or drawing, attaching items to, reproducing, or creating facsimiles of currency notes, or attempting to use such mutilated or defaced notes as legal tender, may face severe penalties. These penalties include a fine of Rs. 25 million, imprisonment for up to 3 years, or both.
The CBSL has therefore urged the public to refrain from engaging in any unlawful activities related to the mutilation or defacement of currency notes.
