CORRECTED-Restrictions on Sri Lankan RFC and NRFC accounts to be lifted

Business

(Corrected from earlier report which said decision is effective immediately - from Monday)
Restrictions on Sri Lankan RFC and NRFC (foreign currency accounts) will be lifted with the decision to take effect later this week, Central Bank Governor Arjuna Mahendran told reporters on Monday. He said a circular will be issued to commercial banks this week to give effect to the move. He said this would pave the way for an easier inflow and outflow of foreign currency from these accounts where these accounts would be similar to local currency accounts where inflows and outflows are freely made. - ENDS-

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