ANNOUNCED AS TEMPORARYNo
Trade payment measure
On August 30, 2013, the Central Bank of Sri Lanka issued circular 35/01/005/0010/15 to commercial banks, instructing them not to open Letters of Credit for the importation of motor vehicles and parts thereof (under tariff lines 8702, 8703, 8704, 8706, 8707, 8708, and 8711) unless they are covered by a minimum cash margin of 100 per cent of the import value deposited with the commercial bank in question.
On January 2, 2014, the Central Bank lifted this requirement with circular 35/01/005/0010/18,with immediate effect.
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