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.
@Gm &oqb 86urSesyb trOlin 6)ir6g1 CENTRAL BANK OF SRI LANKA Wks @@@enoa znag2Q 6.tr$rriL® 4rra51burr3ffisir Domestic Operations @qespbmeg2s325-2@ Pmelffefiffi61111 Department Circular No: 35/01/005/0010/23 07 March 2019 To: All Licensed Commercial Banks MARGIN REQUIREMENTS AGAINST LETTERS OF CREDIT FOR IMPORTATION OF MOTOR VEHICLES AND NON-ESSENTIAL CONSUMER GOODS All Licensed Commercial Banks are hereby informed that the Circulars No. 35/01/005/0010/21 and 35/01/005/0010/22 dated 29 September 2018 and 26 November 2018 respectively, are withdrawn with effect from 07 March 2019. fl Director/Domestic Operations 7 Da-) @e29 C. 2 Om e.9.€6 epozs> 30, el/038MB @3O3) 25)t. VI 590, 032t036a 01 ç e.m3a 6trti) 7, 2thftqJth 2 gi5o. 30, EfestrrOu6 LDIT64GD .G1Li 590 Glthmtbq 01 a6DISDE6 Level 7, Tower 2 No. 30, Janadhipathi Mawata P0 Box 590, Colombo 01, Sri Lanka 111 P1AT T I 0 [11 AA IAA — 33 -a 7_35_ ITTITTIV A t_ A !ii ll AI 0 TA 9 T ff-frtir-T