The Central Bank of Sri Lanka has made an appeal to Sri Lankans and well-wishers living in Sri Lanka and abroad to make foreign currency deposits within the country’s banking system of Licensed Commercial Banks and Specialised Financial Institutions as a gesture of goodwill and assistance to Sri Lanka and its people during the three months commencing from April 2, 2020, in support of the wide-ranging national effort to safeguard people from coronavirus, to bring its spread under control and to provide healthcare and social security to the people.
The Central Bank has announced that foreign currency deposits in Sri Lankan banking system at this difficult stage will be of immense help to authorities to tide over the present crisis.
The Central Bank has guaranteed that foreign currency deposits into the Sri Lankan banking system will be accepted without hindrance from the government, Central Bank or any other government authority, and future convertibility of these deposits into foreign currency whenever the depositors desire to do so. All such foreign exchange remittances will be exempted from Exchange Control Regulations and taxes and protected under banking secrecy provisions.
The Ministry of Foreign Relations, sensitive to the concerns of the OSLs amidst the rapid spread of the COVID-19 and the inability to return to Sri Lanka, has held consultations over the past 2 days with its Heads of Missions based in 67 cities across the world, to facilitate the wellbeing and safety of Overseas Sri Lankans, while preparing for any exigencies they could have to meet in the coming days.
