Regulatory Alerts2015-05-28 | 02/17/600/0002/002Recovery of Accommodation to Exporters
The Central Bank of Sri Lanka has rescinded its October 2014 circular and amended four earlier directives to reduce the enhanced interest rate on exporter accommodation from 1,000 to 500 basis points. This directive takes effect on 1 June 2015 and mandates licensed commercial banks to proactively inform affected customers regarding its applicability. The updated framework standardizes accommodation costs, thereby enhancing competitiveness for exporters while maintaining regulatory oversight.
@ goor @eo OooqO @odrarm lopdu orrjd CENTRAL BANK OF SRI TANKA areOq6lxaas€cro6tas@dag ounirdl GLo$unrtoror$ $enourd;oonrb BankSupervlslon Department Ref: 02 I 17 I 600 I 00021 002 28 May 2015 To: The Chief Executive Officers of Licensed Commercial Banks Dear Sir/ Madam Recovery of Accommodation to Exporters We write to inform you that: a. the Circular dated 16 October 2014 on the above subject is hereby rescinded, and b. the Circulars dated 22 January 2001,29 January 2001, 16 February 2001 and 30 March 2001 on the above subject shall come into effect with an amendment to reduce the enhanced interest rate stated in the said Circulars from 1,000 basis points to 500 basis points. This Circular shall come into operation with effect from 01 June 2015 and banks shall ensure that relevant customers are informed of the applicability of this Circular in advance. Yours faithfully, &- ffittJYPFernando Director of Bank Supervision o Oo Otoe, eelo t0, d€DoEleA gJOo, tDs.ec,.59O, @eO Ol, € Oplo€ , ( s4fi24771oot6ss 6 qb6 Dnq, Qa:. ro con$u$ onopog O6tr(9tnl 1 D. Ou. eo.590, OcnO6q 01, Sddo6 ld E, ilo. 30, Jantdhlpdil tlaxilta, Colombo I P .0, Bd. 500, oolombo 01, &l Lntka, H sau24r7711 E banksup@cbsl.lk @ www.cbsl.gov.lk