Regulatory Alerts2015-11-27 | Operating Instructions PSD/ACU/01/2015Procedure for Channeling Transactions through Asian Clearing Union Mechanism
The Central Bank of Sri Lanka issued Operating Instructions PSD/ACU/01/2015 to govern all transactions under the Asian Clearing Union mechanism for Licensed Commercial Banks starting December 1, 2015. The directive mandates that eligible trade-related payments and surplus fund repatriations be routed through designated US Dollar or Euro Nostro accounts held with correspondent banks in other ACU member countries. It further specifies strict operational requirements for account maintenance, funding procedures, communication cut-off times, and settlement protocols to ensure compliance with national exchange control and anti-money laundering regulations.
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