Exports’ Assn. confirms abiding with repatriation rules
04 Aug 2022
Exports’ Assn. confirms abiding with repatriation rules
04 Aug 2022
Says willing to support Central Bank in ‘any way possible’
The Exporters’ Association of Sri Lanka (EASL) has stated that they are committed to ensuring that its members abide by the requirements of the law in respect of the repatriation of export proceeds and the surrender of residual earnings. In this regard, EASL said: “We have communicated this to our membership and are willing to support the CBSL (Central Bank of Sri Lanka) in any way possible at this time. It’s important that exporters abiding by the regulations are recognised by the CBSL and agree that offending companies should be dealt with under the provisions of the law.” Issuing a statement, EASL Chairman Talal Shums said that the Exporters’ Association welcomes the measures taken by the CBSL, as outlined in its communication of 29July titled “Importance of fair play by all stakeholders of the economy in countering the current unprecedented economic crisis”.The EASL has stated that as a responsible association, it supports the CBSL in its measures to “strictly monitor and ensure compliance with all regulations on foreign exchange transactions, including repatriation requirements of export proceeds, conversions, and mandatory sales to the CBSL”.
