Regulatory Alerts2023-05-18 | Banking Act Directions No. 04 of 2023Margin Requirements Against Imports
The Central Bank of Sri Lanka issued Banking Act Directions No. 04 of 2023 to mandate immediate margin requirements for all imports under the Banking Act. This directive formally revokes the preceding frameworks established in Directions No. 03 of 2022 and No. 02 of 2023, thereby streamlining regulatory compliance for licensed financial institutions. Operating under Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1988, the updated rules take effect immediately to standardize import financing obligations.
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