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2021-06-18 | Banking Act Order No. 01 of 2021

Designated 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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MONETARY BOARD CENTRAL BANK OF SRI LANKA

18 June 2021 | BANKING ACT ORDER | No. 01 of 2021

BANKING (OFF-SHORE BANKING BUSINESS SCHEME) ORDER DESIGNATED FOREIGN CURRENCIES

Order made by the Monetary Board of the Central Bank of Sri Lanka with the approval of the Minister, under Sections 23, 25 and 26 of the Banking Act, No. 30 of 1988, as amended.

  1. Designated Foreign Currencies

    1.1 The foreign currencies set out in the Schedule below in this Order are determined as the Designated Foreign Currencies under the Banking (Off-Shore Banking Business Scheme) Order.

    1.2 The Schedule in this Order, replaces the Schedule in the Banking (Off-Shore Banking Business Scheme) Order No. 01 of 2011, dated 27.10.2011.

[Signature] Prof. W D Lakshman Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka

Schedule

Designated Foreign Currencies

  1. Australian Dollar
  2. Canadian Dollar
  3. Chinese Renminbi
  4. Danish Kroner
  5. Euro
  6. Hongkong Dollar
  7. Japanese Yen
  8. New Zealand Dollar
  9. Norwegian Kroner
  10. Pound Sterling
  11. Singapore Dollar
  12. Swedish Kroner
  13. Swiss Franc
  14. Thai Baht
  15. United States Dollar
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