The SLASSCOM yesterday welcomed the move by the Central Bank to exempt the IT-BPM services export sector from the mandatory conversion of export earnings. 

A circular in this regard was issued by the Central Bank on August 12.

“This measure will help instil confidence especially amongst the foreign IT-BPM companies, having their captive delivery centres in the country,” the SLASSCOM said in a brief statement.   “Despite the stability issues facing Sri Lanka in the recent past, the IT-BPM sector continues to attract interest from foreign buyers and investors for its talent and innovation capabilities. This relaxation will be another plus to attract newer foreign direct investments into the sector,” it added.