Directions No. 01 of 2018 under Foreign Exchange Act, No. 12 of 2017 Directions issued to Authorized Dealers on Payments for Imports made on Advance Payment (Cash-in- Advance) Terms

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Directions No. 01 of 2018 under Foreign Exchange Act, No. 12 of 2017 Directions issued to Authorized Dealers on Payments for Imports made on Advance Payment (Cash-in- Advance) Terms

October 11, 2018Industry News

We have been informed by Department of Foreign Exchange, Central Bank of Sri Lanka that, with effect from 10^th of October 2018, Authorized Dealers are not permitted to release foreign exchange which involves convention of Sri Lankan Rupees for making payments for the importation of non-essential consumer goods as specified in the attached circular.

Please refer Annex I under the advance payment (Cash –in – Advance) terms.

Authorized Dealers should apprise customers on this requirement and required to comply with this direction until further notice.

Thanks
Regards
Manori Dissanayaka
For Secretary
Enc/-

Secretariat
Import Section of The Ceylon Chamber of Commerce
No. 50, Nawam Mawatha, Colombo 2, Sri Lanka
Tel Direct:+94 11 5588871, 5588898

(Gen) 2-421745-7, 5-588800

Fax:+ 94 11 2449352
E-mail: importsection@chamber.lk

Website: http://www.importsection.lk