Sri Lanka, June 10 -- The Central Bank of Sri Lanka (CBSL) has issued an updated regulatory framework governing the repatriation and mandatory conversion of export proceeds, according to an Extraordinary Gazette notification.

The new directive, issued under the Central Bank of Sri Lanka Act No. 16 of 2023, is titled the "Repatriation of Export Proceeds into Sri Lanka Rules No. 2 of 2026".

The regulations further amend earlier frameworks introduced in 2024 and early 2026, tightening administrative controls on the handling of foreign currency earnings within the banking system.

Under the revised Rule 4, direct exporters receiving foreign currency earnings in Sri Lanka are required to convert any residual balances into Sri Lanka Rupees ...