Monetary Board cancels CIFL licence

The Monetary Board of the Central Bank has issued a notice of cancellation of the licence granted to Central Investments and Finance Plc in terms of Section 37 (1) of the Finance Business Act No. 42 of 2011.

The Central Bank said the notice was communicated to the company on 17 November. 

In the terms of the Act, the company may tender objections in writing to the Monetary Board, in which case the Board may consider the objection and further action may be determined.