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CBSL imposes 100% cash margin deposit on selected goods including mobiles, TVs

9 September 2021 04:45 pm - 13     - {{hitsCtrl.values.hits}}


The Monetary Board of the Central Bank of Sri Lanka, has decided to impose a 100 percent cash margin deposit requirement against the importation of selected goods of non-essential or non-urgent nature made goods including on mobile phones, televisions, watches, refrigerators, fruits, air conditioners, wine and beer. 

The CBSL in a statement said the Monetary Board of the Central Bank of Sri Lanka, at its meeting held on Sept. 8, decided to impose a 100 percent cash margin deposit requirement against the importation of these goods made under Letters of Credit and Documents against Acceptance terms with Licensed Commercial Banks and National Savings Bank, with immediate effect.

The decision to impose the cash margin deposit requirement is expected to support the ongoing efforts to preserve the stability of the exchange rate and foreign currency market liquidity, particularly by discouraging excessive imports of speculative nature. 






  Comments - 13

  • Mizaru Thursday, 09 September 2021 05:29 PM

    One the brink of that precipice called "Bankruptcy" ?

    Sandy Thursday, 09 September 2021 05:50 PM

    Good move , also need to reduce imports of non fuel efficient vehicles

    Suranga Thursday, 09 September 2021 05:57 PM

    Towards to a banana republic!

    Gb Thursday, 09 September 2021 06:09 PM

    U can help maintain exchange rate by stopping rhe printing of money, rupee depreciating is also due to the billions printed this year

    Kosappu Thursday, 09 September 2021 06:13 PM

    God save SL

    Consequences of your actions Friday, 10 September 2021 08:11 AM

    I would be nice to hear from all the 69L if it all feels good now... like the famous slogen

    Seb Friday, 10 September 2021 08:14 AM

    Gb is right. SL is following the disaster path of the USA where inflation is now the highest in the past 13 years with 5.4%

    Sunil Friday, 10 September 2021 08:23 AM

    Slowly but surely we are moving closer and closer to total disaster.

    Concerned Friday, 10 September 2021 09:07 AM

    Back to Stone Age

    Jehan Friday, 10 September 2021 10:32 AM

    6.9 million are the dud experts and the racist junkies-

    Lafran Thursday, 16 September 2021 11:02 AM

    God Help Sri Lanka..

    Roshnaly Monday, 27 September 2021 11:12 AM

    Is there enough dollar in the Bank to open L/C even at 100% margin.?

    appuhami Wednesday, 13 October 2021 12:33 PM

    so government can play around, take family members go on shopping spree when ministers go on foreign trips (official), import parts for their luxurious vehicles and play around with money, then trap us in this messed up Chinese island and suffocate us the public with countries debts for things we never asked for, get more loans and mess up some more. Already foreigners are running back from this weird joke of a country

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