SL NEWS EXPRESS (The Independent Media)
June 20, 2025 at 02:44 PM
*🔴 NEWS ALERT* ```(20.06.2025)```
*📌The Central Bank of Sri Lanka (CBSL) has warned the public against being misled by advertisements promoting overseas property investments and foreign financing options for such ventures.*
*In a statement issued today (20), the CBSL clarified that resident individuals are only allowed to invest in overseas properties using up to USD 20,000 from Personal Foreign Currency Accounts (PFCAs) and cannot use Business Foreign Currency Accounts (BFCAs) or foreign loans for such purposes.*
*The CBSL stressed that advertisements offering guidance on circumventing these rules are in violation of the Foreign Exchange Act, No. 12 of 2017, and that legal action will be taken against those facilitating or engaging in such unauthorized transactions.*
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