Seminar on new Foreign Exchange Act

A seminar on the new Foreign Exchange Act will be held on December 12th at Ramada Hotel from 2 p.m. to 5 p.m. The Act  came into effect from 20th November 2017, replacing the existing Exchange Control Act and liberalizing the existing Exchange Control regulations. 

The key note address will be delivered by Dr. KanagIsvaran PC and the presentations on the new Act by KPMG Tax Principal Attorney at Law Suresh R.I. Perera and Director of Foreign Exchange, Central Bank of Sri Lanka Udeni P. Alawattage will elaborate on the regulations which include capital transactions in foreign exchange carried on by authorized dealers, opening and maintenance of accounts for the purpose of engaging capital transactions, opening and maintenance of foreign exchange accounts, import and export of foreign currency or Sri Lankan currency, holding of foreign exchange in possession, identification of a ‘resident’ for the purposes of the said Act et al. 

The presentation will be followed by a panel discussion with prominent personalities including Udeni P. Alawattage, Director of Foreign Exchange, Central Bank of Sri Lanka, Dr. KanagIsvaran PC, Suresh R.I. Perera, Attorney at Law and Principal Tax & Regulatory KPMG, Chaya Gunarathne Head of Compliance of Union Bank and the President of ACOB and Kelum Amarasinghe Head of Foreign Operations of Commercial Bank of Ceylon.  The panel discussion will be moderated by Rifka Ziyard, Associate Director at KPMG.  

This Seminar organised by UTO EduConsult will cover the major differences between the new and the old Acts such as the new types of accounts, designation of accounts, dealers in foreign exchange, administrative provisions and penal provisions among others. 

For registration and further details, contact 0775-837575 or email [email protected] and visit 
www.utoeduconsult.com