Regulatory Alerts2021-06-18 | Banking Act Order No. 01 of 2021Designated Foreign Currencies
The Monetary Board of the Central Bank of Sri Lanka, with Ministerial approval, designates fifteen specific foreign currencies for use under the Off-Shore Banking Business Scheme. This Order updates the previous 2011 schedule by formally listing currencies including the United States Dollar, Euro, Japanese Yen, and Chinese Renminbi as valid Designated Foreign Currencies. Issued under Sections 23, 25, and 26 of the Banking Act No. 30 of 1988, the directive establishes the legal framework for offshore banking transactions to utilize these approved currencies.
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