Central Bank of Sri Lanka Order on 100% Cash Margin Deposit for Letters of Credit

# ශ්‍රී ලංකා වෙළෙන් සිටින මුල්‍ය බැංකුව
## CENTRAL BANK OF SRI LANKA

### ස්ථාවර සේවාපත්‍රිකා කාර්යාලය
### දෙස්තුරු අභ්‍යන්තර කාර්යාලය
### Domestic Operations Department

---

**19 May 2022**

**To: All Licensed Commercial Banks**

## ORDER MADE BY THE MONETARY BOARD OF THE CENTRAL BANK OF SRI LANKA IN TERMS OF THE PROVISIONS OF SECTION 103 OF THE MONETARY LAW ACT, NO. 58 OF 1949 ON MAINTAINING A CASH MARGIN DEPOSIT REQUIREMENT AGAINST LETTERS OF CREDIT

1. Licensed Commercial Banks (LCBs) are hereby directed that with immediate effect, Letters of Credit (LCs) shall not be opened by LCBs for the importation of goods specified in the Schedule attached hereto, unless such LCs are covered by a non-interest-bearing cash margin deposit requirement of 100 per cent maintained at the respective LCBs at the time of opening the LC.

2. LCBs are further directed that the following conditions shall also be applicable for the importation of goods covered by this Order.
   a) The cash margin deposit requirements shall be on the total value of the invoice, notwithstanding the fact that the same invoice includes goods which are not covered by this Order.
   b) In the case of existing LCs covering the importation of goods covered by this Order, no increase in the value of such LCs shall be permitted by LCBs unless such increase is covered by the cash margin deposits as required in (1) above.
   c) LCBs shall not grant any advances to their customers for the purpose of enabling such customers to meet the cash margin deposit requirement imposed by this Order.
   d) LCBs shall endorse the relevant invoice certifying whether the cash margin deposit as per this Order has been maintained.
   e) The margin deposit shall be released on the production of documentary evidence on payments through the banking channels in Sri Lanka and the Customs documents relating to clearance of imports.

3. The provisions of this Order shall have effect in addition to any requirement in force for the time being and such other requirements that may be introduced in terms of any law in respect of importation of goods.

---

**Dr. R A Anil Perera**  
Director/Domestic Operations

---

**7 වැනි මාදුරු, 2 වැනි කුලුම්බුරු**  
**අංක 30, ජනාධිපති මාවත**  
**තැපැල් 590, කොළඹ 01, ශ්‍රී ලංකාව**  
**+94 112 477036**  
**+94 112 346287**  
**ddod@cbsl.lk**  
**www.cbsl.gov.lk**

---

## Annex 1: List of HS Codes subjected to Margin Requirement

| No | HS code |
|----|---------|
| 1 | 030441 |
| 2 | 030449 |
| 3 | 030451 |
| 4 | 030461 |
| 5 | 030462 |
| 6 | 030469 |
| 7 | 030474 |
| 8 | 04029990 |
| 9 | 040310 |
| 10 | 040390 |
| 11 | 040510 |
| 12 | 040620 |
| 13 | 040630 |
| 14 | 040690 |
| 15 | 060311 |
| 16 | 060490 |
| 17 | 08011190 |
| 18 | 08011990 |
| 19 | 08021190 |
| 20 | 08023190 |
| 21 | 08028090 |
| 22 | 08041010 |
| 23 | 08041020 |
| 24 | 08051010 |
| 25 | 08052110 |
| 26 | 080610 |
| 27 | 080620 |
| 28 | 080810 |
| 29 | 080830 |
| 30 | 080940 |
| 31 | 081050 |
| 32 | 08109090 |
| 33 | 081120 |
| 34 | 081190 |
| 35 | 081320 |
| 36 | 081330 |
| 37 | 08134090 |
| 38 | 081350 |
| 39 | 081400 |
| 40 | 090121 |
| 41 | 090122 |
| 42 | 09022019 |
| 43 | 09022093 |
| 44 | 09022099 |
| 45 | 100490 |
| 46 | 110412 |
| 47 | 110419 |
| 48 | 110422 |
| 49 | 110423 |
| 50 | 110429 |
| 51 | 110430 |
| 52 | 110510 |
| 53 | 110520 |
| 54 | 110710 |
| 55 | 110720 |
| 56 | 110814 |
| 57 | 110900 |
| 58 | 180620 |
| 59 | 180631 |
| 60 | 180632 |
| 61 | 180690 |
| 62 | 190211 |
| 63 | 190219 |
| 64 | 190220 |
| 65 | 190230 |
| 66 | 190240 |
| 67 | 190410 |
| 68 | 190420 |
| 69 | 200799 |
| 70 | 200811 |
| 71 | 20081910 |
| 72 | 20081920 |
| 73 | 20081990 |
| 74 | 20083090 |
| 75 | 200860 |
| 76 | 200870 |
| 77 | 200897 |
| 78 | 20089910 |
| 79 | 20089990 |
| 80 | 20091110 |
| 81 | 20091190 |
| 82 | 200912 |
| 83 | 200949 |
| 84 | 200969 |
| 85 | 200971 |
| 86 | 200979 |
| 87 | 200981 |
| 88 | 20098990 |
| 89 | 200990 |
| 90 | 220210 |
| 91 | 220291 |
| 92 | 22029910 |
| 93 | 22029930 |
| 94 | 22029940 |
| 95 | 22029951 |
| 96 | 22029959 |
| 97 | 22029961 |
| 98 | 22029969 |
| 99 | 22029970 |
| 100 | 22029991 |
| 101 | 22029999 |
| 102 | 22030010 |
| 103 | 22030020 |
| 104 | 22030090 |
| 105 | 220410 |
| 106 | 220421 |
| 107 | 220510 |
| 108 | 220710 |
| 109 | 220820 |
| 110 | 220830 |
| 111 | 22084010 |
| 112 | 220850 |
| 113 | 220860 |
| 114 | 220870 |
| 115 | 22089010 |
| 116 | 240210 |
| 117 | 24022020 |
| 118 | 24022050 |
| 119 | 24022060 |
| 120 | 24031920 |
| 121 | 24031990 |
| 122 | 24039190 |
| 123 | 24039990 |
| 124 | 33030010 |
| 125 | 33030021 |
| 126 | 33030022 |
| 127 | 33030029 |
| 128 | 330410 |
| 129 | 330420 |
| 130 | 330430 |
| 131 | 330491 |
| 132 | 330499 |
| 133 | 330510 |
| 134 | 330520 |
| 135 | 330530 |
| 136 | 330590 |
| 137 | 330610 |
| 138 | 330690 |
| 139 | 330710 |
| 140 | 330720 |
| 141 | 330730 |
| 142 | 330749 |
| 143 | 33079090 |
| 144 | 34011920 |
| 145 | 34012010 |
| 146 | 34013020 |
| 147 | 34029010 |
| 148 | 340510 |

---

| No | HS code |
|----|---------|
| 149 | 340520 |
| 150 | 340530 |
| 151 | 34054010 |
| 152 | 34054090 |
| 153 | 340590 |
| 154 | 340600 |
| 155 | 38070010 |
| 156 | 38140010 |
| 157 | 38140090 |
| 158 | 381900 |
| 159 | 39262020 |
| 160 | 39262090 |
| 161 | 401519 |
| 162 | 401590 |
| 163 | 401691 |
| 164 | 401694 |
| 165 | 40169510 |
| 166 | 40169590 |
| 167 | 40169990 |
| 168 | 420100 |
| 169 | 420211 |
| 170 | 420212 |
| 171 | 420219 |
| 172 | 420221 |
| 173 | 420222 |
| 174 | 420229 |
| 175 | 420231 |
| 176 | 420232 |
| 177 | 420239 |
| 178 | 420291 |
| 179 | 420292 |
| 180 | 420299 |
| 181 | 420310 |
| 182 | 420321 |
| 183 | 420329 |
| 184 | 420330 |
| 185 | 420340 |
| 186 | 42050010 |
| 187 | 42050090 |
| 188 | 430400 |
| 189 | 441911 |
| 190 | 441990 |
| 191 | 442090 |
| 192 | 44219190 |
| 193 | 44219990 |
| 194 | 480300 |
| 195 | 48181010 |
| 196 | 48181090 |
| 197 | 481820 |
| 198 | 481830 |
| 199 | 48185090 |
| 200 | 48189020 |
| 201 | 48189090 |
| 202 | 570110 |
| 203 | 57019090 |
| 204 | 57022010 |
| 205 | 570231 |
| 206 | 570232 |
| 207 | 570241 |
| 208 | 570249 |
| 209 | 570292 |
| 210 | 570299 |
| 211 | 570320 |
| 212 | 570330 |
| 213 | 57039090 |
| 214 | 57049090 |
| 215 | 570500 |
| 216 | 610120 |
| 217 | 610130 |
| 218 | 610190 |
| 219 | 610210 |
| 220 | 610220 |
| 221 | 610230 |
| 222 | 610290 |
| 223 | 610310 |
| 224 | 610322 |
| 225 | 610323 |
| 226 | 610329 |
| 227 | 610331 |
| 228 | 610332 |
| 229 | 610333 |
| 230 | 610339 |
| 231 | 610341 |
| 232 | 610342 |
| 233 | 610343 |
| 234 | 610349 |
| 235 | 610413 |
| 236 | 610419 |
| 237 | 610422 |
| 238 | 610423 |
| 239 | 610429 |
| 240 | 610431 |
| 241 | 610432 |
| 242 | 610433 |
| 243 | 610439 |
| 244 | 610442 |
| 245 | 610443 |
| 246 | 610444 |
| 247 | 610449 |
| 248 | 610452 |
| 249 | 610453 |
| 250 | 610459 |
| 251 | 610461 |
| 252 | 610462 |
| 253 | 610463 |
| 254 | 610469 |
| 255 | 610510 |
| 256 | 610520 |
| 257 | 610590 |
| 258 | 610610 |
| 259 | 610620 |
| 260 | 610690 |
| 261 | 610721 |
| 262 | 610729 |
| 263 | 610791 |
| 264 | 610799 |
| 265 | 610831 |
| 266 | 610832 |
| 267 | 610839 |
| 268 | 610891 |
| 269 | 610892 |
| 270 | 610899 |
| 271 | 610910 |
| 272 | 610990 |
| 273 | 611011 |
| 274 | 611012 |
| 275 | 611019 |
| 276 | 611020 |
| 277 | 611030 |
| 278 | 611090 |
| 279 | 611120 |
| 280 | 611130 |
| 281 | 611190 |
| 282 | 611211 |
| 283 | 611212 |
| 284 | 611219 |
| 285 | 611231 |
| 286 | 611239 |
| 287 | 611241 |
| 288 | 611249 |
| 289 | 611300 |
| 290 | 611420 |
| 291 | 611430 |
| 292 | 611490 |
| 293 | 611510 |
| 294 | 611529 |
| 295 | 611530 |
| 296 | 611594 |
| 297 | 611595 |
| 298 | 611596 |
| 299 | 611599 |
| 300 | 611610 |
| 301 | 611691 |
| 302 | 611692 |
| 303 | 611693 |
| 304 | 611699 |
| 305 | 611710 |
| 306 | 61178010 |
| 307 | 61178020 |
| 308 | 620111 |

---

| No | HS code |
|----|---------|
| 309 | 620112 |
| 310 | 620113 |
| 311 | 620119 |
| 312 | 620192 |
| 313 | 620193 |
| 314 | 620199 |
| 315 | 620211 |
| 316 | 620212 |
| 317 | 620213 |
| 318 | 620219 |
| 319 | 620291 |
| 320 | 620292 |
| 321 | 620293 |
| 322 | 620299 |
| 323 | 620311 |
| 324 | 62031290 |
| 325 | 62031990 |
| 326 | 62032290 |
| 327 | 62032390 |
| 328 | 62032990 |
| 329 | 620331 |
| 330 | 62033290 |
| 331 | 62033390 |
| 332 | 62033990 |
| 333 | 620341 |
| 334 | 62034290 |
| 335 | 62034390 |
| 336 | 62034911 |
| 337 | 62034990 |
| 338 | 62041290 |
| 339 | 62041390 |
| 340 | 62041990 |
| 341 | 62042290 |
| 342 | 62042390 |
| 343 | 62042990 |
| 344 | 620431 |
| 345 | 62043290 |
| 346 | 62043390 |
| 347 | 62043990 |
| 348 | 620441 |
| 349 | 62044219 |
| 350 | 62044290 |
| 351 | 62044390 |
| 352 | 62044419 |
| 353 | 62044490 |
| 354 | 62044990 |
| 355 | 62045290 |
| 356 | 62045390 |
| 357 | 62045990 |
| 358 | 620461 |
| 359 | 62046219 |
| 360 | 62046290 |
| 361 | 62046390 |
| 362 | 62046919 |
| 363 | 62046990 |
| 364 | 62052090 |
| 365 | 62053090 |
| 366 | 62059090 |
| 367 | 62061090 |
| 368 | 620620 |
| 369 | 62063090 |
| 370 | 62064019 |
| 371 | 62064090 |
| 372 | 62069090 |
| 373 | 62072290 |
| 374 | 62082190 |
| 375 | 62082290 |
| 376 | 62082990 |
| 377 | 62089190 |
| 378 | 620920 |
| 379 | 620930 |
| 380 | 620990 |
| 381 | 621010 |
| 382 | 621020 |
| 383 | 621030 |
| 384 | 621040 |
| 385 | 621050 |
| 386 | 621111 |
| 387 | 621112 |
| 388 | 621120 |
| 389 | 62113290 |
| 390 | 62113390 |
| 391 | 62113990 |
| 392 | 62114219 |
| 393 | 62114292 |
| 394 | 62114299 |
| 395 | 62114319 |
| 396 | 62114392 |
| 397 | 62114399 |
| 398 | 62114919 |
| 399 | 62114992 |
| 400 | 62114999 |
| 401 | 62132090 |
| 402 | 62139090 |
| 403 | 62141090 |
| 404 | 62144090 |
| 405 | 62149090 |
| 406 | 621510 |
| 407 | 621520 |
| 408 | 621590 |
| 409 | 621600 |
| 410 | 630110 |
| 411 | 630120 |
| 412 | 630130 |
| 413 | 630140 |
| 414 | 630190 |
| 415 | 630210 |
| 416 | 63022190 |
| 417 | 63022290 |
| 418 | 63022990 |
| 419 | 63023190 |
| 420 | 63023290 |
| 421 | 63023990 |
| 422 | 630240 |
| 423 | 63025190 |
| 424 | 63025990 |
| 425 | 63026090 |
| 426 | 63029190 |
| 427 | 63029390 |
| 428 | 63029990 |
| 429 | 630312 |
| 430 | 630319 |
| 431 | 630391 |
| 432 | 630392 |
| 433 | 630399 |
| 434 | 630411 |
| 435 | 63041990 |
| 436 | 630420 |
| 437 | 630491 |
| 438 | 63049290 |
| 439 | 63049390 |
| 440 | 63049990 |
| 441 | 63051010 |
| 442 | 63051090 |
| 443 | 630520 |
| 444 | 630532 |
| 445 | 630533 |
| 446 | 630539 |
| 447 | 630590 |
| 448 | 630612 |
| 449 | 630619 |
| 450 | 630622 |
| 451 | 630629 |
| 452 | 630630 |
| 453 | 630640 |
| 454 | 630690 |
| 455 | 630710 |
| 456 | 630720 |
| 457 | 630790 |
| 458 | 63079090 |
| 459 | 640110 |
| 460 | 640199 |
| 461 | 640212 |
| 462 | 64021910 |
| 463 | 64021919 |
| 464 | 640220 |
| 465 | 640291 |
| 466 | 640299 |
| 467 | 640312 |
| 468 | 64031910 |

---

| No | HS code |
|----|---------|
| 469 | 64031919 |
| 470 | 640320 |
| 471 | 640340 |
| 472 | 640351 |
| 473 | 640359 |
| 474 | 640391 |
| 475 | 640399 |
| 476 | 640411 |
| 477 | 640419 |
| 478 | 640420 |
| 479 | 640510 |
| 480 | 640520 |
| 481 | 640590 |
| 482 | 650100 |
| 483 | 650200 |
| 484 | 650400 |
| 485 | 65050010 |
| 486 | 65050090 |
| 487 | 65061090 |
| 488 | 65069110 |
| 489 | 65069190 |
| 490 | 65069910 |
| 491 | 65069990 |
| 492 | 650700 |
| 493 | 660110 |
| 494 | 660191 |
| 495 | 660199 |
| 496 | 670300 |
| 497 | 670411 |
| 498 | 670419 |
| 499 | 670420 |
| 500 | 670490 |
| 501 | 691110 |
| 502 | 69120010 |
| 503 | 69120090 |
| 504 | 69139090 |
| 505 | 701310 |
| 506 | 701322 |
| 507 | 701328 |
| 508 | 701333 |
| 509 | 701337 |
| 510 | 701341 |
| 511 | 701342 |
| 512 | 701349 |
| 513 | 701391 |
| 514 | 70139990 |
| 515 | 701810 |
| 516 | 701820 |
| 517 | 701890 |
| 518 | 732111 |
| 519 | 732112 |
| 520 | 732119 |
| 521 | 732181 |
| 522 | 732182 |
| 523 | 732189 |
| 524 | 732310 |
| 525 | 732391 |
| 526 | 732392 |
| 527 | 732393 |
| 528 | 732394 |
| 529 | 732399 |
| 530 | 73241010 |
| 531 | 73241090 |
| 532 | 732421 |
| 533 | 732429 |
| 534 | 732490 |
| 535 | 74181090 |
| 536 | 741820 |
| 537 | 76151020 |
| 538 | 76151090 |
| 539 | 76152090 |
| 540 | 821000 |
| 541 | 821110 |
| 542 | 821191 |
| 543 | 821192 |
| 544 | 821194 |
| 545 | 82121010 |
| 546 | 82121090 |
| 547 | 82122090 |
| 548 | 821300 |
| 549 | 821410 |
| 550 | 821420 |
| 551 | 821490 |
| 552 | 821510 |
| 553 | 821520 |
| 554 | 821599 |
| 555 | 830300 |
| 556 | 830621 |
| 557 | 830629 |
| 558 | 830630 |
| 559 | 841451 |
| 560 | 841459 |
| 561 | 84151021 |
| 562 | 84151022 |
| 563 | 84151023 |
| 564 | 84151024 |
| 565 | 84151029 |
| 566 | 84151032 |
| 567 | 84151033 |
| 568 | 84151034 |
| 569 | 84151035 |
| 570 | 84151039 |
| 571 | 84158190 |
| 572 | 84158290 |
| 573 | 84158390 |
| 574 | 84159019 |
| 575 | 84159029 |
| 576 | 84181090 |
| 577 | 84182190 |
| 578 | 84182920 |
| 579 | 84182990 |
| 580 | 84231020 |
| 581 | 84501110 |
| 582 | 84501131 |
| 583 | 84501132 |
| 584 | 84501133 |
| 585 | 84501134 |
| 586 | 84501139 |
| 587 | 84501141 |
| 588 | 84501142 |
| 589 | 84501143 |
| 590 | 84501144 |
| 591 | 84501149 |
| 592 | 84501210 |
| 593 | 84501231 |
| 594 | 84501232 |
| 595 | 84501233 |
| 596 | 84501234 |
| 597 | 84501239 |
| 598 | 84501910 |
| 599 | 84501931 |
| 600 | 84501932 |
| 601 | 84501933 |
| 602 | 84501934 |
| 603 | 84501939 |
| 604 | 850811 |
| 605 | 850940 |
| 606 | 850980 |
| 607 | 851010 |
| 608 | 851020 |
| 609 | 851030 |
| 610 | 85131010 |
| 611 | 85131090 |
| 612 | 851610 |
| 613 | 851621 |
| 614 | 851629 |
| 615 | 851631 |
| 616 | 851632 |
| 617 | 851633 |
| 618 | 851640 |
| 619 | 851650 |
| 620 | 85166010 |
| 621 | 85166090 |
| 622 | 851671 |
| 623 | 851672 |
| 624 | 85167910 |
| 625 | 85167920 |
| 626 | 85167990 |
| 627 | 851680 |
| 628 | 851711 |

---

| No | HS code |
|----|---------|
| 629 | 85171210 |
| 630 | 85171220 |
| 631 | 85171290 |
| 632 | 851718 |
| 633 | 85258090 |
| 634 | 852712 |
| 635 | 852713 |
| 636 | 852719 |
| 637 | 852721 |
| 638 | 852729 |
| 639 | 852791 |
| 640 | 852792 |
| 641 | 852799 |
| 642 | 85285990 |
| 643 | 852869 |
| 644 | 85287120 |
| 645 | 85287190 |
| 646 | 85287210 |
| 647 | 85287231 |
| 648 | 85287232 |
| 649 | 85287233 |
| 650 | 85287234 |
| 651 | 85287235 |
| 652 | 85287236 |
| 653 | 85287239 |
| 654 | 85287241 |
| 655 | 85287249 |
| 656 | 85287291 |
| 657 | 85287299 |
| 658 | 85287320 |
| 659 | 85287390 |
| 660 | 85291010 |
| 661 | 85291030 |
| 662 | 85291090 |
| 663 | 852990 |
| 664 | 853910 |
| 665 | 85392110 |
| 666 | 85392190 |
| 667 | 85392210 |
| 668 | 85392220 |
| 669 | 85392290 |
| 670 | 853929 |
| 671 | 85392910 |
| 672 | 85392990 |
| 673 | 85393110 |
| 674 | 85393190 |
| 675 | 853932 |
| 676 | 853939 |
| 677 | 853941 |
| 678 | 853949 |
| 679 | 853950 |
| 680 | 853990 |
| 681 | 900410 |
| 682 | 900490 |
| 683 | 900510 |
| 684 | 900580 |
| 685 | 910111 |
| 686 | 91011990 |
| 687 | 910121 |
| 688 | 910129 |
| 689 | 910191 |
| 690 | 910199 |
| 691 | 910211 |
| 692 | 910212 |
| 693 | 910219 |
| 694 | 910221 |
| 695 | 910229 |
| 696 | 910291 |
| 697 | 910299 |
| 698 | 910511 |
| 699 | 910519 |
| 700 | 910521 |
| 701 | 910529 |
| 702 | 910700 |
| 703 | 920110 |
| 704 | 920120 |
| 705 | 920190 |
| 706 | 920210 |
| 707 | 920290 |
| 708 | 920510 |
| 709 | 920590 |
| 710 | 920600 |
| 711 | 920710 |
| 712 | 920790 |
| 713 | 920890 |
| 714 | 94012090 |
| 715 | 94013090 |
| 716 | 94017190 |
| 717 | 94019090 |
| 718 | 94032090 |
| 719 | 94039090 |
| 720 | 94051010 |
| 721 | 94051020 |
| 722 | 94051090 |
| 723 | 94052010 |
| 724 | 94052020 |
| 725 | 94052090 |
| 726 | 940530 |
| 727 | 94054010 |
| 728 | 94054020 |
| 729 | 94054030 |
| 730 | 94054040 |
| 731 | 94054090 |
| 732 | 94055010 |
| 733 | 94055020 |
| 734 | 94055090 |
| 735 | 940560 |
| 736 | 940591 |
| 737 | 940592 |
| 738 | 94059910 |
| 739 | 94059990 |
| 740 | 95030010 |
| 741 | 95030030 |
| 742 | 95030050 |
| 743 | 95030070 |
| 744 | 95030080 |
| 745 | 95030090 |
| 746 | 950420 |
| 747 | 950440 |
| 748 | 950450 |
| 749 | 95049090 |
| 750 | 950510 |
| 751 | 950590 |
| 752 | 95062910 |
| 753 | 95062920 |
| 754 | 95062990 |
| 755 | 950631 |
| 756 | 950651 |
| 757 | 950659 |
| 758 | 950661 |
| 759 | 950662 |
| 760 | 950669 |
| 761 | 950691 |
| 762 | 950699 |
| 763 | 950720 |
| 764 | 950790 |
| 765 | 950890 |
| 766 | 960340 |
| 767 | 960400 |
| 768 | 960500 |
| 769 | 961310 |
| 770 | 961320 |
| 771 | 961390 |
| 772 | 961511 |
| 773 | 961519 |
| 774 | 961590 |
| 775 | 96161010 |
| 776 | 96161090 |
| 777 | 96170090 |
| 778 | 961800 |
| 779 | 962000 |