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  • 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

Permitted Credits

  • Inward remittances received from the overseas employers

Permitted Debits

  • 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.

*Condition apply