The Ministry of Finance issued Import Control Regulations on Payment Terms No.07 of 2022, dated 06 May 2022, and to be effective from 20 May 2022, by restricting the use of
Open Account Payment Terms or Consignment Account Terms, subject to conditions, when importing goods to Sri Lanka.

This measure complements the various other measures that are being implemented by the Central Bank of Sri Lanka (CBSL) and the Government in order to improve the foreign
exchange liquidity conditions in the domestic banking system.

FULL TEXT- https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20220530_cbsl_reassures_availability_of_foreign_exchange_through_banking_system_for_essential_items_e.pdf