Under Act No. 12 of 2017, the Minister of Finance, Economic Stabilization and National Policies has periodically announced orders for the temporary suspension/restriction of outward remittances related to certain capital transactions and mobile transfers, effective from April 2020, on the recommendation of the Central Bank of Sri Lanka.
The final order published in this regard on Dec. 22, 2022 is scheduled to expire on June 30, 2023.
Accordingly the Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Minister of Finance, Economic Stabilization and National Policies to issue an order under the section 22 of the Foreign Exchange Act No.12 of 2017, for the implementation of the said order for another 06 months and then to submit this order to the Parliament for approval.
