Banks not ordered to force customers to convert account balances: Cabraal

Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal took to Twitter today to stress that no instructions have been given to banks to force customers to convert balances in their foreign currency accounts.

Attempting to set the record straight, Cabraal said some “mischievous elements” were spreading rumours that the financial sector regulator had ordered banks to forcibly convert balances in their customers' forex accounts, which he said was totally false.

While several banks have alerted their customers that they are authorised to convert balance in foreign current accounts to Sri Lankan rupee as stated in Gazette No. 2251/42 dated 28 October 2021,the Governor implied that it was not done by force.