Regulatory Alerts2018-10-11 | Circular No. 02 of 2018Added · Updated
Margin Requirements Against Imports on Documents Against Acceptance (DA) Terms
The Central Bank of Sri Lanka requires licensed commercial banks to impose a 100 percent cash margin on the total invoiced value of imports under Documents Against Acceptance (DA) terms for listed non-essential consumer goods. Importers must place this deposit upon document acceptance, and banks are prohibited from granting loan facilities to cover it while mandating invoice endorsement and proof of banking-channel payment for release. Implemented immediately, this directive aims to restrict import volumes and stabilize the national exchange rate by applying uniform margin rules across specified Harmonized System categories.
More like this from CBSL
CBSL published 1 document in the last 30 days. We email you each new one the day it's published.