The Central Bank of Sri Lanka (CBSL) has issued a new directive to all Licensed Commercial Banks pertaining to cash margin deposit requirements against Letters of Credit.
The Licensed Commercial Banks have been informed that cash margin deposit requirements against Letters of Credit, dated 19 May 2022 and 16 February 2023, have been withdrawn.
The CBSL further stated that the orders made by the Monetary Board of the Central Bank in this regard have been withdrawn with immediate effect. (NewsWire)