Permitted Credits

• Remittances in foreign exchange received from outside Sri Lanka in favour of the account Holder through the banking system.
• Unutilized foreign currency obtained by the account holder by debiting the Personal Foreign Currency Account for travel purpose as permitted by directions issued by the Central Bank.
• Foreign currency brought into Sri Lanka by the account holder upon declaration [i.e., where Such foreign currency notes exceed or equals to USD 15,000 or its equivalent in other foreign currency on a declaration to Customs Department or where such foreign currency notes are less than USD 15,000 or its equivalent in other foreign currency, on an appropriate declaration to the authorized dealer or restricted dealer].
• Transfers from Personal Foreign Currency Accounts, Business Foreign Currency Accounts or Accounts maintained in the Offshore Banking Unit, irrespective of the account holder.
• Where the account holder is a resident outside Sri Lanka or a non-national resident in Sri Lanka, transfers from an Inward Investment Account of the same account holder.
• Transfers from Capital Transactions Rupee Account of the same account holder as permitted By directions issued by the Central Bank.
• Transfers from Diplomatic Foreign Currency Accounts of any other person.
• Capital, capital gains and other receipts arising from investments made in Sri Lanka in foreign currency, if the original transfer had been made by debiting the Personal Foreign Currency Account [or from the Non-Resident Foreign Currency Account, Resident Foreign Currency Account or Resident Non-National Foreign Currency Account of the account holder prior to this order come into effect].
• Capital and capital gains received from foreign investments into an Outward Investment Account, if the original investment had been made by debiting the Non-Resident Foreign Currency Account, Resident Foreign Currency Account or Resident Non-National Foreign Currency Account of the account holder, prior to this order come into effect.
• Unutilized balance remaining in the Foreign Travel Card of the same account holder, up to the Amount the Foreign Travel Card had been loaded from the Personal Foreign Currency Account.
• Where the account holder is a non-national employee resident in Sri Lanka, transfers from employers’ Sri Lanka Rupee account as monthly salary, employment benefits and other related benefits.
• Where the account holder is a non-national employee resident in Sri Lanka, amounts in Sri Lanka Rupees authorized by the Central Bank for remittance abroad, converted at the rate of exchange obtained on the day of credit.
• Transactions or transfers from any other category of accounts that may be permitted to maintain by the Central Bank from time to time, to the extent such transactions or transfers have been permitted by directions issued by the Central Bank
• Remittances originating outside Sri Lanka from the account holder in terms of section 8(3) of the Act.
• Interest earned in foreign currency on the funds held in the account.

Permitted Debits

• Any outward remittances made outside Sri Lanka.
• Disbursements in Sri Lanka in Sri Lanka Rupees.
• Transfers to Personal Foreign Currency Accounts or accounts maintained in the Offshore Banking Units, irrespective of the account holder.
• Where the account holder is a resident outside Sri Lanka or a non-national resident in Sri Lanka transfers to an Inward Investment Account of the same account holder.
• Transfer of funds for uploading a Foreign Travel Card.
• Transfers in respect of any investment permitted to be made in Sri Lanka in foreign currency Utilizing funds in the Personal Foreign Currency Account.
• Withdrawal in foreign currency notes up to USD 10,000 (or equivalent in any other foreign currency) for travel purpose as permitted by directions issued by the Central Bank.
• Where the account holder is a non-national resident outside Sri Lanka who is on temporary visit to Sri Lanka, withdrawals in foreign currency.
• Where the account holder is a non-national employee resident in Sri Lanka, transfers to Business Foreign Currency Accounts of the employer in respect of overpayment of salaries and any other payment due to such employer.
• Transfers to employers’ Sri Lanka Rupee accounts in the event of an overpayment to a non-National employee resident in Sri Lanka, as per the sub paragraph (2) (k) of paragraph 1 of this Schedule.
• Payments to residents in foreign exchange in respect of transactions or categories of transactions, to the extent such transactions have been permitted by directions issued by the Central Bank.
• Transactions or transfers to any other category of accounts that may be permitted to maintain by the Central Bank from time to time, to the extent such transactions or transfers have been permitted by directions issued by the Central Bank.

Personal Foreign Currency Accounts (PFCAs)

​may be opened and maintained as Current (without cheque drawing facility), Savings or Term Deposit accounts in any designated foreign currency.

Out of such accounts, Personal Foreign Currency Accounts, maintained by individuals may be held as sole or joint accounts with another eligible person.