The Central Bank of Sri Lanka notes that credit cards issued by commercial banks for personal use cannot be used for business purposes.
Deputy Governor of CBSL Mrs. T. M. J. Y. P. Fernando stated so when enquired about this issue at a media briefing held today (19) according to Ada Derana.
“This is something we’ve been asked during the past few days. CBSL has not imposed any new regulation with regard to paying via credit cards, nor have we asked consumers to stop making payments via credit cards. The current regulation is that you can use a credit card to buy things for personal usage. But you cannot use it to make payments for goods bought for business. But you can still pay in usual circumstances such as buying goods for your own use, paying for your education etc. We have not imposed any regulation against that.”
It has been reported that banks have imposed certain limitations when making foreign payments via credit cards. When enquired about this, Governor of CBSL Dr. W. D. Lakshman stated: “You can buy a laptop for your personal usage with your credit card. But if you’re buying 10-15 laptops for a commercial purpose, that is questionable.”
Commercial banks have started charging an additional fee when making foreign payments via credit cards, and when enquired about it, the Deputy Governor further stated that the Department of International Affairs Operations of the CBSL is looking into the matter. (NewsWire)
