Rules on forex accounts relaxed
Sri Lankan bank customers holding foreign currency accounts would be able to transfer money among each others’ account with greater freedom in the future.
The Central Bank said holders of non-resident foreign currency accounts would be allowed to transfer money to other NRFC account holders and to Resident Foreign Currency accounts.
Resident foreign currency account holders would also be allowed to transfer money to other RFC accounts.
Several types of accounts opened by exporters, foreign employment agencies, gem dealers and suppliers of inputs will be consolidated under a new foreign exchange earners account.