Regulatory Alerts2018-01-08 | Circular No. 1 of 2018Implementation of Budget Proposal on Usance Letter of Credit Facilities
The Central Bank of Sri Lanka directs licensed commercial and specialized banks to cease issuing usance letter of credit facilities for motor vehicle imports. This directive implements a parliamentary-approved budget proposal communicated by the Ministry of Finance and Mass Media. The restriction takes effect on January 1, 2018, applying to all financial institutions under the bank's supervision.
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