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SRI LANKA - business / finance News

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Foreign exchange transactions relaxed

Updated - 9/3/2010 - DailyNews.

 

The Central Bank of Sri Lanka yesterday announced further relaxation of foreign exchange transactions with the following measures to be implemented with effect from March 11 in relation to foreign exchange transactions.

A Sri Lankan resident who is earning foreign exchange from investments abroad as approved by the Central Bank, engaged in providing international professional services in Sri Lanka or abroad, engaged in any occupation abroad or who have proceeded outside Sri Lanka for education and/or for medical treatment and exporters of goods will be permitted to open and maintain bank accounts abroad, the bank said.

The bank said that forward contracts in foreign currency to cover foreign exchange transactions related to trade in goods and services, remittances and approved foreign lending and borrowings, will also be permitted.

 

www.dailynews.lk/2010/03/09/bus03.asp

 

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