Banks not directed to convert balances in Forex accounts

The Central Bank of Sri Lanka has insisted that banks have not been directed to convert balances in their customers Forex accounts.

Central Bank Governor Ajith Nivard Cabraal said that rumors spread by some mischievous elements that Sri Lankan banks have been ordered by the Central Bank of Sri Lanka to forcibly convert balances in their customers’ Forex accounts, are totally false.

Earlier, one journalist had tweeted saying she was informed by her bank that all her USD will be converted to LKR as per a Government gazette.

“They asked me to sign a form of consent, to which I refused. They also mentioned that many local banks have already begun converting without consent,” journalist Dasuni Athauda tweeted.

She said that when she asked the bank what would happen if she did give them the consent to convert they had said they cannot convert without her consent but the account might be subjected for further restrictions.

Others also took to social media saying they had also been told their USD balances will be converted.? (Colombo Gazette)

I was just informed by @HSBC that all my USD will be converted to LKR as per a Govt gazette.

They asked me to sign a form of consent, to which I refused.

They also mentioned that many local banks have already begun converting WITHOUT consent.

Interesting times?. #lka

? Dasuni Athauda (@AthaudaDasuni) January 4, 2022

So @ComBank_LK is lying to me? https://t.co/pm2wzcIFMg pic.twitter.com/VtHD1ZSByy

? Super Deluxe (@sachp) January 5, 2022