The government has issued a gazette notification introducing a new regulatory system to more efficiently monitor foreign currency payments during the import of goods.
According to the new regulations issued by the Minister of Finance, Planning and Economic Development, President Anura Kumara Dissanayake under the Import and Export (Control) Act, banks must provide a special transaction number for every payment made for import transactions.
It has also been made mandatory to inform Sri Lanka Customs of all information related to such transactions.
Accordingly, banks must provide information including the importer's Tax Identification Number (TIN), address, beneficiary information, bank and branch codes, payment amount, currency, payment and delivery terms, payment date, Proforma Invoice number and details of the goods being imported to Customs.
Also, it is mandatory for importers to register as qualified importers with Sri Lanka Customs before making advance payments for the import of goods, and commercial banks will not be allowed to pay advances to importers who are not registered. The government is said to be hoping to regulate the flow of foreign exchange properly through this.
These new regulations will come into effect from 19th June 2026 (today).