Money Transfer

Sri Lanka's Prime Minister Ranil Wickremesinghe arrives with flowers to receive blessings at the Gangaramaya Buddhist Temple, Colombo, Sri Lanka on Wednesday 4 April 2018. On wednesday (4), Wickremesinghe survived a no-confidence motion in the Sri Lankan parliament with a 46 vote majority after a 12-hour debate with 122 MPs voted in his support while 76 MPs voting to remove the prime minister. (Photo by Tharaka Basnayaka/NurPhoto via Getty Images)

Aug 09, 2012 (LBO) – Sri Lanka’s Central bank has relaxed exchange control regulations to allow the free transfer of funds from non-resident foreign currency (NRFC) accounts, the bank releasing a statement said. The bank said funds can be freely transferred between and among NRFC accounts including foreign currency investments abroad.

“Necessary direction to authorized dealers has already been issued, amending the directions dated 11.07.2012 in order to make it abundantly clear that any outward remittance by non-resident foreign currency account holders would be freely permitted,” the bank statement said.

“Therefore any concerns over free transferability of NRFC funds should no longer arise,” the statement further said.