Regulatory Alerts2019-04-17 | Banking Act Directions No. 1 of 2019Measures to Curtail Imports of Motor Vehicles and Non-Essential Consumer Goods
The Central Bank of Sri Lanka has withdrawn Banking Act Direction No. 7 of 2018, which previously mandated restrictions on motor vehicle and non-essential consumer goods imports. Effective 17 April 2019, this directive nullifies the October 2018 curtailment measures, allowing financial institutions to resume standard foreign exchange approvals for these imports. National Savings Bank is specifically notified to implement this change immediately, ensuring compliance across the banking sector's import financing operations.
CENTRAL BANK OF SRI LANKA BANK SUPERVISION DEPARTMENT
17 April 2019 | BANKING ACT DIRECTION | No. 01 of 2019
MEASURES TO CURTAIL IMPORTS OF MOTOR VEHICLES AND NON-ESSENTIAL CONSUMER GOODS
National Savings Bank is hereby informed that the Banking Act Directions No.7 of 2018 dated 12 October 2018 on Measures to Curtail Imports of Motor Vehicles and Non-Essential Consumer Goods are withdrawn with effect from the date of this Direction.
(Signature)
H A Karunaratne Acting Senior Deputy Governor/Chief Executive Officer of the Central Bank of Sri Lanka