BASL seeks Court against CBSL’s directive on USD-to-LKR conversion






The Bar Association of Sri Lanka (BASL) has lodged a petition with the Court of Appeal against the directive by the Central Bank of Sri Lanka (CBSL) on converting foreign currency, including United States Dollars, held by Sri Lankans into Sri Lankan Rupees.

The writ was filed by BASL President Saliya Peiris PC and Vice President Anura Meddegoda PC, pointing out that service charges have so far been levied in foreign currency for providing services to clients abroad, but the CBSL’s new directive drives the conversion of these currencies to Sri Lankan Rupees, thereby violating their right to service.

The Governor of the CBSL, the Finance Minister and members of the Monetary Board of Sri Lanka have been cited as respondents to the petition.

MIAP






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