CB issues guidelines on accepting payments from tourists, non-SL residents

The Central Bank yesterday issued guidelines to tourism service providers when transacting with tourists and non-resident Sri Lankans.   

Accordingly, the tourism service providers registered with the Sri Lanka Tourism Development Authority (SLTDA) are required to adhere to three mandated guidelines. Under the rules published in Gazette Extraordinary No. 2263/41, dated January 21, 2022, the service providers are required to: (1) accept payments for services rendered to persons resident outside Sri Lanka only in foreign exchange, (2) deposit such foreign currency into a business foreign currency account of the hotel service provider or sell to a licensed bank within three business days and  (3) credit payments into a business foreign currency account of the hotel service provider, in the event such person resident outside Sri Lanka makes payments using an electronic fund transfer card (credit card, debit card, travel card, etc.).

The hotel service providers may also accept payments in Sri Lankan rupees, provided they submit the original documentary evidence to prove that such Sri Lankan rupees represent the foreign currency brought into Sri Lanka and converted through a licensed bank or an authorised money changer.