Regulatory Alerts2021-10-01 | Banking Act Direction No. 15 of 2021Margin Requirements Against Imports
The Monetary Board of the Central Bank of Sri Lanka has issued Banking Act Direction No. 15 of 2021 to establish updated margin requirements for imports under the Banking Act No. 30 of 1988. This directive formally revokes the preceding Banking Act Directions No. 12 of 2021, replacing the prior regulatory framework effective 1 October 2021. Signed by Governor Nivard Ajith Leslie Cabraal, the new mandate exercises statutory powers under Sections 46(1) and 76(J)(1) to standardize capital buffers for import transactions across all regulated banks.
MONETARY BOARD CENTRAL BANK OF SRI LANKA
01 October 2021 | BANKING ACT DIRECTIONS | No. 15 of 2021
MARGIN REQUIREMENTS AGAINST IMPORTS
Issued in terms of the powers conferred by Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1988, as amended.
Banking Act Directions No. 12 of 2021 dated 08 September 2021 on Margin Requirements Against Imports are hereby revoked.
[Signature]
Nivard Ajith Leslie Cabraal Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka