COLOMBO (NewsRadio); Two directives issued by the Monetary Board of the Central Bank pertaining to cash margin deposit requirements for Letters of Credit have been withdrawn.
The Central Bank of Sri Lanka has informed all Licensed Commercial banks regarding the new decision.
The Central Bank said the cash margin deposit requirements against Letters of Credit, dated 19th of May 2022 and the 16th of February 2023, have accordingly been withdrawn with immediate effect.
