Sri Lanka allows transfers from NRFC accounts

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.
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The bank said funds can be freely transferred between and among NRFC accounts including foreign currency investments abroad.
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"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.

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

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