In keeping with this announcement, a new legislative and policy framework for foreign exchange operations has been introduced by the Foreign Exchange Act, No. 12 of 2017 with effect from November 20, 2017, repealing the Exchange Control Act, No. 24 of 1953. Provisions of the new Act are being implemented through the newly established Department of Foreign Exchange in the Central Bank of Sri Lanka.

Relevant Regulations and Orders made under the new Act by the Minister of National Policies and Economic Affairs have been published in the Gazette Notification No. 2045/56 dated November 17, 2017, while Directions have been issued to Authorized Dealers (Licensed Commercial Banks) by the Director of Department of Foreign Exchange on November 20, 2017.

For more information refer www.dfe.lk or contact the Department of Foreign Exchange through, 011-2477433 – Additional Director, 011-2477207/248/375 – Deputy Directors, 011-2398641 – Policy and Research Division, and 011-2477358/651 – Capital Transactions Division.