Banking (Off-Shore Banking Business Scheme) Order

1ft March20l8
MONETARY BOARD
CENTRAL BANK OF SRI LANKA
BANKING ACT ORDER No.01 of2018
BANKING (OFF.SHORE BANKING BUSINESS SCHEME) ORDER Order made by the Monetary Board of the Central Bank of Sri Lanka with the approval of the Minister, under Sections 23,25 and26 of the Banking Act, No. 30 of 1988 as amended.
1. Citation
2. Amendment to
Clause 5 in the'
Banking (Off￾Shore Banking
Business)
Order,2000 issued on 7ft
April2000.
The following
Shore Banking
Permitted transactions in an account of a non￾resident This Order may be cited as the Banking Act, Order No. 01 of 2018. new Clause, replaces the Clause 5 of the Banking (Off￾Business Scheme) Order, 2000, dated 7n April2000
5. An account maintained by a non-resident in an off￾shore unit shall be:
(a) credited with inward remittances, and (b) credited or debited, as the case may be, with transactions that are permitted under the provisions of the Foreign Exchange Act, No. 12 of 2017, in any designated foreign currency.
3. Revocations The following are hereby revoked:
(i) Banking Act, Order No. 1 of 2009 Banking (Off-Shore Banking Business Scheme) Order. (ii) Banking Act, Order No. 2 of 2011 Banking (Off-Shore Banking Business Scheme) Order. ilr*^\ r"*1 Dr. Indrajit Coomaraswamy Chairman of the Monetary Board and Governor of the Central Bankof Sri Lanka