CBSL Issues New Gazette: Exporters Mandated to Convert Residual Proceeds by 10th of Following Month

COLOMBO (News 1st);The Central Bank of Sri Lanka has issued an Extraordinary Gazette Notification introducing the “Repatriation of Export Proceeds into Sri Lanka Rules No. 2 of 2026” under the Central Bank of Sri Lanka Act, No. 16 of 2023.

The rules, effective upon Parliamentary approval, further amend the 2024 and 2026 regulations on export earnings repatriation.

Under the revised provisions, exporters must convert remaining export proceeds into Sri Lankan Rupees by the 10th day of the following month, after making permitted payments.

Permitted payments include export-related current transactions, loan repayments, dividends to non-resident investors, salaries of expatriate employees, travel-related expenses, and investments up to 10 percent in government foreign currency debt securities.

Indirect exporters with foreign currency earnings are also required to convert residual balances into Sri Lankan Rupees after authorised payments within the same deadline.