Repatriation of Export Proceeds into Sri Lanka
February, 22, 2021
The Monetary Board has issued Rules as published in the Gazette Extraordinary No. 2215/39 dated 18.02.2021 in respect of receipt of export proceeds into Sri Lanka and conversion of such export proceeds into Sri Lanka Rupees.
Accordingly, following Rules are imposed with effect from 18 February 2021 until further notice.
1. Every exporter of goods shall:
(i) receive the export proceeds in Sri Lanka in respect of all goods exported within hundred and eighty (180) days from the date of shipment, and
(ii) forthwith submit all related documentary evidence on each and every receipt of export proceeds in respect of every export of goods made, to the respective Licensed Commercial Bank or the Licensed Specialized Bank (hereinafter referred to as “Licensed bank”) that receives such proceeds in Sri Lanka.
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