The Central Bank of Sri Lanka (CBSL) has issued an Extraordinary Gazette Notification introducing the Repatriation of Export Proceeds into Sri Lanka Rules No. 2 of 2026 under the provisions of the Central Bank of Sri Lanka Act, No. 16 of 2023.
The new regulations, which will come into effect upon Parliamentary approval, further amend the existing rules governing the repatriation of export earnings introduced in 2024 and 2026.
Under the revised provisions, exporters are required to convert any remaining export proceeds into Sri Lankan Rupees by the 10th day of the month following the receipt of funds, after making payments permitted under the regulations.
The Gazette specifies that permitted payments include export-related current transactions, foreign loan repayments, dividend payments to non-resident investors, salaries and allowances of expatriate employees, travel-related expenses, and investments of up to 10 percent in government-issued foreign currency debt securities.
The new rules also apply to indirect exporters who receive foreign currency earnings.
Accordingly, indirect exporters must similarly convert any residual foreign currency balances into Sri Lankan Rupees within the prescribed timeframe after carrying out authorized payments.
The Central Bank stated that the revised regulations are intended to strengthen foreign exchange management, improve the timely repatriation of export earnings, and support the stability of the country’s external sector.
The latest amendments form part of broader efforts to enhance foreign exchange inflows and ensure greater compliance with export proceeds repatriation requirements.
