Regulatory Alerts2019-03-07 | Circular No. 35/01/005/0010/23Margin Requirements against Letters Of Credit for Importation of Motor Vehicles and Non-Essential Consumer Goods
The Central Bank of Sri Lanka issued Circular No. 35/01/005/0010/23 on 07 March 2019 to update margin requirements for letters of credit used in importing motor vehicles and non-essential consumer goods. This directive explicitly withdraws the previous circulars No. 35/01/005/0010/21 and 35/01/005/0010/22, which were dated 29 September 2018 and 26 November 2018 respectively. The new regulations apply to all Licensed Commercial Banks in Sri Lanka effective immediately upon the circular's release date.
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