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  • Overview
  • Permitted Credits/Debits

What is it ?

‘Foreign Exchange Earners’ Accounts (FEEA)’ assist residents who earn foreign exchange to conduct transactions in foreign exchange.

For whom ?

  • Individuals
  • Companies incorporated in Sri Lanka
  • Sole proprietorships and partnerships registered in Sri Lanka
  • Companies incorporated outside Sri Lanka which are registered as overseas companies under the Companies Act No 7 of 2007

Types of Accounts

  • Accounts in the form of Current, Savings or Term Deposits in any foreign currencies

Permitted Credits

  • Inward remittances received from abroad through the banking system in respect of export of goods and services, entrepot trade and overseas projects undertaken by the account holder
  • Foreign currency notes brought into the country by the account holder
  • Proceeds from foreign currency loans received from authorized dealers
  • Proceeds from foreign currency loans obtained from foreign lenders with the prior permission of the Controller of Exchange
  • Interest accrued on funds held in the account

Permitted Debits

  • Outward remittances with respect to entrepot trade
  • Outward remittances in respect of claims, refunds and commissions related to export of goods and services
  • Payment of freight charges to accounts maintained by shipping and airline agents on behalf of their principals
  • Outward remittances in respect of repayment of foreign currency loans obtained from foreign lenders with the prior permission of the Controller of Exchange
  • Repayment of foreign currency loans obtained from authorized dealers
  • Withdrawals in Sri Lankan Rupees provided that such withdrawals are not converted into foreign currency and re-credited to the account

*Condition apply