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* Sri Lanka appeals to expatriates for foreign currency inflows assuring no restrictions
Thu, Apr 2, 2020, 08:40 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 02, Colombo: Sri Lanka’s financial authorities with the approval of the cabinet today appealed to all the Sri Lankans living abroad and well-wishers to consider depositing their foreign currency savings in local bank accounts.

Releasing a joint statement, the Central Bank Governor Professor W D Lakshman and Treasury Secretary S.R. Attygalle invited all Sri Lankan expatriates abroad and those living in Sri Lanka with foreign currency holdings to consider depositing their savings and other funds in foreign currency within the Sri Lankan banking system as a gesture of goodwill and assistance to Sri Lanka.

They guaranteed that their foreign currency deposits to the Sri Lankan banking system will be accepted without any hindrance from the government, the Central Bank or any other government authority.

All forex remittances will be exempted from exchange control regulations and taxes and protected under banking secrecy provisions, the officials assured.

“Such remittances would go a long way to promote people’s welfare during the current period of still spreading COVID-19, and economic revival in the immediate aftermath,” they said.

 

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