Regulatory Alerts2023-05-17 | OrderOrder on Withdrawal of Cash Margin Deposit Requirements Against Letters of Credit
The Monetary Board of the Central Bank of Sri Lanka issued this order to formally withdraw previous directives regarding cash margin deposit requirements against letters of credit. Specifically, the orders dated 19 May 2022 and 16 February 2023 are rescinded with immediate effect. This directive applies to all Licensed Commercial Banks in Sri Lanka.
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