- Permitted Credits/Debits
What is it ?
The Inward Remittance Distribution Account (IRDA) could be used as a clearing account to disburse earnings of individuals who are providing services abroad in seagoing vessels/ships, commercial aircraft as well as those who are providing construction, janitorial, health, security, accounting, legal and other services in foreign countries.
For whom ?
Companies incorporated in Sri Lanka which have made arrangements for disbursement of wages and/or earnings of Sri Lankans who are rendering services outside Sri Lanka
Types of Accounts
- Accounts opened in the form of Current Accounts in designated foreign currencies
- Inward remittances received from the overseas employers
- Transfers to credit of RFC/NRFC or Rupee accounts of non- resident employees
- Transfer of funds to a Foreign Exchange Earners’ Account (FEEA) or a Rupee account maintained by the account holder in respect of commission or service fees charged to the relevant overseas employer(s)
- Withdrawals in Sri Lankan Rupees provided that re-converting and crediting to the IRDA are disallowed.