With regard to regulations pertaining to remittances of foreign
exchange, please note the following:
regard to foreign remittance, on 19th March 2020 Foreign Exchange
Department of the Central Bank issued a directive to Authorized Dealers on
Release of Foreign Currency Notes for Travel Purposes with a ceiling of USD
5,000. Please note that this is not applicable and/or arisen in the
context of persons who have already left Sri Lanka for short term visits.
persons who have gone abroad for studies (under student or equivalent visas) or
for medical purposes or on their behalf, persons in Sri Lanka are permitted to
remit funds from Sri Lanka to cover expenses of university/tuition/training
fees, living expenses, medical charges or as any related fees etc. through
Authorized Dealers, that is already permitted as Current transactions under the
Foreign Exchange Act (FEA).
on 9th April 2020 Central Bank issued a Press Release on “The
Government and the Central Bank of Sri Lanka Introduce Further Measures to
Preserve the Foreign Currency Reserve Position of Sri Lanka” which also clearly states that
suspension is only on foreign currency remittances pertaining to capital
transactions and NOT current transactions. (i.e. for educational and medical
purposes, living expenses, etc.)
who have gone abroad for pursuing education (i.e. students) are recognized as
persons resident in Sri Lanka for the purposes of FEA. Accordingly, such students can obtain
Electronic Fund Transfer Cards (EFTCs) (i.e. credit/debit cards) from
Authorized Dealers in terms of the Directions issued under FEA to that effect.
anyone stranded abroad need to get his/her credit limit enhanced, it is a
decision of the respective Authorized Dealer and there are no credit limits
imposed under FEA on EFTCs.
who have gone abroad for short term purposes (other than the persons who have
migrated or those who have left SL for employment abroad) are permitted to
obtain EFTCs from ADs for making payments in foreign exchange to persons
resident outside Sri Lanka in respect of personal nature current transactions.
currency earners who have to repay loans in foreign currency and whose incomes
have been adversely affected due to the Covid-19 outbreak can obtain a three
(03) months postponement of repayment of loans.
These borrowers should contact the respective banks before 30 April
Related Press releases issued
by the Central Bank of Sri Lanka -