Rule · CBSL · 19 Mar 2020 · Banking Act Directions No. 1 of 2020

Measures to Curtail Imports and Foreign Currency Investments

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The Central Bank of Sri Lanka has directed licensed commercial banks and the National Savings Bank to suspend facilitating imports of specified motor vehicles and non-essential goods, alongside suspending purchases of Sri Lanka International Sovereign Bonds. Implemented with immediate effect for a three-month period, these directives aim to alleviate exchange rate pressure and financial market stress triggered by the COVID-19 pandemic. The restrictions apply to transactions processed under Letters of Credit, Documents Against Acceptance, and Advance Payment, while preserving essential vehicle categories listed in the annex.

Sri LankaCentral Bank of Sri Lanka

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Source: Central Bank of Sri Lanka — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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