Sri Lanka to issue new orders under foreign exchange law

ECONOMYNEXT – Sri Lanka will change several orders and regulations issued under the country’s exchange control law, involving capital transactions of residents, non-residents and maintaining accounts, the state information office said.

The Cabinet of Ministers had approved the proposals by Finance Minister Mahinda Rajapaksa to make the orders and submit them to parliament for approval.

Order Number 01 related to types of capital transactions outside of Sri Lanka by a resident in Sri Lanka.

Order Number 02 related to types capital transactions in Sri Lanka by a resident outside of Sri Lanka.

Order Number 03 related to Transfer of Fund by emigrants.

Oder Number 04 related to different types of capital transactions.

Order Number 05 related to the opening and maintaining of account to engage in foreign exchange transactions. (Colombo/Jan29/2021)

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