Another Reversal: 100% Margin Deposit Requirement For Importation Of Non-Essential Items Reversed With Immediate Effect

Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal stated today (1) that the 100% margin deposit requirement for the importation of non-essential and non-emergency goods will be suspended with immediate effect.

The Governor said that many people had faced various difficulties due to the requirement of 100% marginal deposit and considering that the relevant order would be suspended immediately.

Cabral made this announcement while speaking at the unveiling of the Central Bank's six month roadmap earlier today.

The Central Bank of Sri Lanka on September 9 activated the requirement of 100% margin deposit with a view to restricting the import of 623 non-essential and non-essential items under 11 categories.

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