Margin deposit requirement against LCs opened with commercial banks for importation of vehicles

Margin deposit requirement against LCs opened with commercial banks for vehicles

Sept 20, 2018 (LBO) – The Monetary Board of the Central Bank of Sri Lanka imposed a 100 per cent margin deposit requirement against Letters of Credit opened with the commercial banks for the import of motor vehicles,which are generally used for non-commercial purposes,with immediateeffect.Accordingly, Letters of Credit for the importation of these vehicle categories […]