CIMA to shed light on the new Foreign Exchange Act

CIMA Sri Lanka is conducting a seminar and panel discussion on the new Foreign Exchange Act on the February 23, 2018 at BMICH. The key presentations will be delivered Udeni P Alawattage, Director of Department Foreign Exchange and Suresh R.I. Perera, Principal – Tax & Regulatory, KPMG.

The new Foreign Exchange Act, effective from 20th November 2017, replaces the existing Exchange Control Act and liberalizes the existing Exchange Control regulations. The regulations were issued on the 17th of November 2017. The presentations will cover New Accounts, Capital and current transactions, import and export of foreign currency and Sri Lankan currency, holding of foreign exchange in possession, identification of a ‘resident’ as well as the administrative and penal provisions of the Act.

The presentation will be followed by a panel discussion with eminent personalities including Mrs. Renuka Weerakoon Executive Director Board of Investment, Ms. Shanaz Kamileen Assistant Controller of Exchange, and Ms. Pavithri Vithanage Senior Assistant Director Legal and Compliance Department, CBSL. The panel will also include Ms. Manique Kiriella Bandara, Compliance Officer at National Development Bank PLC as well as the speakers and will be moderated by Ms. Rifka Ziyard, Associate Director at KPMG.

More information could be obtained from mastercourses.srilanka@aicpa-cima.com.