ශ්‍රී ලංකා වෙළෙන් සිටින මුල්‍ය බැංකුව

CENTRAL BANK OF SRI LANKA

ස්ථාවර සේවාපත්‍රිකා කාර්යාලය

දෙස්තුරු අභ්‍යන්තර කාර්යාලය

Domestic Operations Department

---

19 May 2022

To: All Licensed Commercial Banks

ORDER MADE BY THE MONETARY BOARD OF THE CENTRAL BANK OF SRI LANKA IN TERMS OF THE PROVISIONS OF SECTION 103 OF THE MONETARY LAW ACT, NO. 58 OF 1949 ON MAINTAINING A CASH MARGIN DEPOSIT REQUIREMENT AGAINST LETTERS OF CREDIT

1. Licensed Commercial Banks (LCBs) are hereby directed that with immediate effect, Letters of Credit (LCs) shall not be opened by LCBs for the importation of goods specified in the Schedule attached hereto, unless such LCs are covered by a non-interest-bearing cash margin deposit requirement of 100 per cent maintained at the respective LCBs at the time of opening the LC.

2. LCBs are further directed that the following conditions shall also be applicable for the importation of goods covered by this Order. a) The cash margin deposit requirements shall be on the total value of the invoice, notwithstanding the fact that the same invoice includes goods which are not covered by this Order. b) In the case of existing LCs covering the importation of goods covered by this Order, no increase in the value of such LCs shall be permitted by LCBs unless such increase is covered by the cash margin deposits as required in (1) above. c) LCBs shall not grant any advances to their customers for the purpose of enabling such customers to meet the cash margin deposit requirement imposed by this Order. d) LCBs shall endorse the relevant invoice certifying whether the cash margin deposit as per this Order has been maintained. e) The margin deposit shall be released on the production of documentary evidence on payments through the banking channels in Sri Lanka and the Customs documents relating to clearance of imports.

3. The provisions of this Order shall have effect in addition to any requirement in force for the time being and such other requirements that may be introduced in terms of any law in respect of importation of goods.

---

Dr. R A Anil Perera
Director/Domestic Operations

---

7 වැනි මාදුරු, 2 වැනි කුලුම්බුරු
අංක 30, ජනාධිපති මාවත
තැපැල් 590, කොළඹ 01, ශ්‍රී ලංකාව
+94 112 477036
+94 112 346287
ddod@cbsl.lk
www.cbsl.gov.lk

---

Annex 1: List of HS Codes subjected to Margin Requirement

No	HS code
1	030441
2	030449
3	030451
4	030461
5	030462
6	030469
7	030474
8	04029990
9	040310
10	040390
11	040510
12	040620
13	040630
14	040690
15	060311
16	060490
17	08011190
18	08011990
19	08021190
20	08023190
21	08028090
22	08041010
23	08041020
24	08051010
25	08052110
26	080610
27	080620
28	080810
29	080830
30	080940
31	081050
32	08109090
33	081120
34	081190
35	081320
36	081330
37	08134090
38	081350
39	081400
40	090121
41	090122
42	09022019
43	09022093
44	09022099
45	100490
46	110412
47	110419
48	110422
49	110423
50	110429
51	110430
52	110510
53	110520
54	110710
55	110720
56	110814
57	110900
58	180620
59	180631
60	180632
61	180690
62	190211
63	190219
64	190220
65	190230
66	190240
67	190410
68	190420
69	200799
70	200811
71	20081910
72	20081920
73	20081990
74	20083090
75	200860
76	200870
77	200897
78	20089910
79	20089990
80	20091110
81	20091190
82	200912
83	200949
84	200969
85	200971
86	200979
87	200981
88	20098990
89	200990
90	220210
91	220291
92	22029910
93	22029930
94	22029940
95	22029951
96	22029959
97	22029961
98	22029969
99	22029970
100	22029991
101	22029999
102	22030010
103	22030020
104	22030090
105	220410
106	220421
107	220510
108	220710
109	220820
110	220830
111	22084010
112	220850
113	220860
114	220870
115	22089010
116	240210
117	24022020
118	24022050
119	24022060
120	24031920
121	24031990
122	24039190
123	24039990
124	33030010
125	33030021
126	33030022
127	33030029
128	330410
129	330420
130	330430
131	330491
132	330499
133	330510
134	330520
135	330530
136	330590
137	330610
138	330690
139	330710
140	330720
141	330730
142	330749
143	33079090
144	34011920
145	34012010
146	34013020
147	34029010
148	340510

---

No	HS code
149	340520
150	340530
151	34054010
152	34054090
153	340590
154	340600
155	38070010
156	38140010
157	38140090
158	381900
159	39262020
160	39262090
161	401519
162	401590
163	401691
164	401694
165	40169510
166	40169590
167	40169990
168	420100
169	420211
170	420212
171	420219
172	420221
173	420222
174	420229
175	420231
176	420232
177	420239
178	420291
179	420292
180	420299
181	420310
182	420321
183	420329
184	420330
185	420340
186	42050010
187	42050090
188	430400
189	441911
190	441990
191	442090
192	44219190
193	44219990
194	480300
195	48181010
196	48181090
197	481820
198	481830
199	48185090
200	48189020
201	48189090
202	570110
203	57019090
204	57022010
205	570231
206	570232
207	570241
208	570249
209	570292
210	570299
211	570320
212	570330
213	57039090
214	57049090
215	570500
216	610120
217	610130
218	610190
219	610210
220	610220
221	610230
222	610290
223	610310
224	610322
225	610323
226	610329
227	610331
228	610332
229	610333
230	610339
231	610341
232	610342
233	610343
234	610349
235	610413
236	610419
237	610422
238	610423
239	610429
240	610431
241	610432
242	610433
243	610439
244	610442
245	610443
246	610444
247	610449
248	610452
249	610453
250	610459
251	610461
252	610462
253	610463
254	610469
255	610510
256	610520
257	610590
258	610610
259	610620
260	610690
261	610721
262	610729
263	610791
264	610799
265	610831
266	610832
267	610839
268	610891
269	610892
270	610899
271	610910
272	610990
273	611011
274	611012
275	611019
276	611020
277	611030
278	611090
279	611120
280	611130
281	611190
282	611211
283	611212
284	611219
285	611231
286	611239
287	611241
288	611249
289	611300
290	611420
291	611430
292	611490
293	611510
294	611529
295	611530
296	611594
297	611595
298	611596
299	611599
300	611610
301	611691
302	611692
303	611693
304	611699
305	611710
306	61178010
307	61178020
308	620111

---

No	HS code
309	620112
310	620113
311	620119
312	620192
313	620193
314	620199
315	620211
316	620212
317	620213
318	620219
319	620291
320	620292
321	620293
322	620299
323	620311
324	62031290
325	62031990
326	62032290
327	62032390
328	62032990
329	620331
330	62033290
331	62033390
332	62033990
333	620341
334	62034290
335	62034390
336	62034911
337	62034990
338	62041290
339	62041390
340	62041990
341	62042290
342	62042390
343	62042990
344	620431
345	62043290
346	62043390
347	62043990
348	620441
349	62044219
350	62044290
351	62044390
352	62044419
353	62044490
354	62044990
355	62045290
356	62045390
357	62045990
358	620461
359	62046219
360	62046290
361	62046390
362	62046919
363	62046990
364	62052090
365	62053090
366	62059090
367	62061090
368	620620
369	62063090
370	62064019
371	62064090
372	62069090
373	62072290
374	62082190
375	62082290
376	62082990
377	62089190
378	620920
379	620930
380	620990
381	621010
382	621020
383	621030
384	621040
385	621050
386	621111
387	621112
388	621120
389	62113290
390	62113390
391	62113990
392	62114219
393	62114292
394	62114299
395	62114319
396	62114392
397	62114399
398	62114919
399	62114992
400	62114999
401	62132090
402	62139090
403	62141090
404	62144090
405	62149090
406	621510
407	621520
408	621590
409	621600
410	630110
411	630120
412	630130
413	630140
414	630190
415	630210
416	63022190
417	63022290
418	63022990
419	63023190
420	63023290
421	63023990
422	630240
423	63025190
424	63025990
425	63026090
426	63029190
427	63029390
428	63029990
429	630312
430	630319
431	630391
432	630392
433	630399
434	630411
435	63041990
436	630420
437	630491
438	63049290
439	63049390
440	63049990
441	63051010
442	63051090
443	630520
444	630532
445	630533
446	630539
447	630590
448	630612
449	630619
450	630622
451	630629
452	630630
453	630640
454	630690
455	630710
456	630720
457	630790
458	63079090
459	640110
460	640199
461	640212
462	64021910
463	64021919
464	640220
465	640291
466	640299
467	640312
468	64031910

---

No	HS code
469	64031919
470	640320
471	640340
472	640351
473	640359
474	640391
475	640399
476	640411
477	640419
478	640420
479	640510
480	640520
481	640590
482	650100
483	650200
484	650400
485	65050010
486	65050090
487	65061090
488	65069110
489	65069190
490	65069910
491	65069990
492	650700
493	660110
494	660191
495	660199
496	670300
497	670411
498	670419
499	670420
500	670490
501	691110
502	69120010
503	69120090
504	69139090
505	701310
506	701322
507	701328
508	701333
509	701337
510	701341
511	701342
512	701349
513	701391
514	70139990
515	701810
516	701820
517	701890
518	732111
519	732112
520	732119
521	732181
522	732182
523	732189
524	732310
525	732391
526	732392
527	732393
528	732394
529	732399
530	73241010
531	73241090
532	732421
533	732429
534	732490
535	74181090
536	741820
537	76151020
538	76151090
539	76152090
540	821000
541	821110
542	821191
543	821192
544	821194
545	82121010
546	82121090
547	82122090
548	821300
549	821410
550	821420
551	821490
552	821510
553	821520
554	821599
555	830300
556	830621
557	830629
558	830630
559	841451
560	841459
561	84151021
562	84151022
563	84151023
564	84151024
565	84151029
566	84151032
567	84151033
568	84151034
569	84151035
570	84151039
571	84158190
572	84158290
573	84158390
574	84159019
575	84159029
576	84181090
577	84182190
578	84182920
579	84182990
580	84231020
581	84501110
582	84501131
583	84501132
584	84501133
585	84501134
586	84501139
587	84501141
588	84501142
589	84501143
590	84501144
591	84501149
592	84501210
593	84501231
594	84501232
595	84501233
596	84501234
597	84501239
598	84501910
599	84501931
600	84501932
601	84501933
602	84501934
603	84501939
604	850811
605	850940
606	850980
607	851010
608	851020
609	851030
610	85131010
611	85131090
612	851610
613	851621
614	851629
615	851631
616	851632
617	851633
618	851640
619	851650
620	85166010
621	85166090
622	851671
623	851672
624	85167910
625	85167920
626	85167990
627	851680
628	851711

---

No	HS code
629	85171210
630	85171220
631	85171290
632	851718
633	85258090
634	852712
635	852713
636	852719
637	852721
638	852729
639	852791
640	852792
641	852799
642	85285990
643	852869
644	85287120
645	85287190
646	85287210
647	85287231
648	85287232
649	85287233
650	85287234
651	85287235
652	85287236
653	85287239
654	85287241
655	85287249
656	85287291
657	85287299
658	85287320
659	85287390
660	85291010
661	85291030
662	85291090
663	852990
664	853910
665	85392110
666	85392190
667	85392210
668	85392220
669	85392290
670	853929
671	85392910
672	85392990
673	85393110
674	85393190
675	853932
676	853939
677	853941
678	853949
679	853950
680	853990
681	900410
682	900490
683	900510
684	900580
685	910111
686	91011990
687	910121
688	910129
689	910191
690	910199
691	910211
692	910212
693	910219
694	910221
695	910229
696	910291
697	910299
698	910511
699	910519
700	910521
701	910529
702	910700
703	920110
704	920120
705	920190
706	920210
707	920290
708	920510
709	920590
710	920600
711	920710
712	920790
713	920890
714	94012090
715	94013090
716	94017190
717	94019090
718	94032090
719	94039090
720	94051010
721	94051020
722	94051090
723	94052010
724	94052020
725	94052090
726	940530
727	94054010
728	94054020
729	94054030
730	94054040
731	94054090
732	94055010
733	94055020
734	94055090
735	940560
736	940591
737	940592
738	94059910
739	94059990
740	95030010
741	95030030
742	95030050
743	95030070
744	95030080
745	95030090
746	950420
747	950440
748	950450
749	95049090
750	950510
751	950590
752	95062910
753	95062920
754	95062990
755	950631
756	950651
757	950659
758	950661
759	950662
760	950669
761	950691
762	950699
763	950720
764	950790
765	950890
766	960340
767	960400
768	960500
769	961310
770	961320
771	961390
772	961511
773	961519
774	961590
775	96161010
776	96161090
777	96170090
778	961800
779	962000