The Central Bank has decided to withdraw the directives issued in relation to maintaining a margin cash deposit against the issuance of letters of credit for imports with immediate effect.

The Central Bank said that all licensed commercial banks have been informed in this regard.

On May 19, 2022, as an order of the Banking Act, it was notified that a margin of 100% must be maintained when issuing letters of credit, and another order issued on February 17, 2023 added another series of goods to the relevant import list.


(colombotimes.lk)