Chandra Jayaratne Invokes RTI To Obtain Details Of Inward-Outward Remittances
author: COLOMBO TELEGRAPH-December 4 2017
Exercising rights relevant to the Right to Information Act No 12 of 2016, Chandra Jayaratne has written to the Central Bankseeking details of those granted special permission or special exemptions to remit in to Sri Lanka foreign currency, outside of the then prevailing statutory and regulatory provisions and administered or regulated norms and processes of the Central Bank.
Jayaratne has also requested the number of such inward remittance approvals granted between January 2015 and October 2017 in terms of various categories of value, and the total sums actually remitted into Sri Lanka against approvals.
The full text of the request is given below:
Information Officer Appointed Under Right to Information Act,
Central Bank of Sri Lanka,
Central Bank Building,
Janadhipathi Mawatha,
Colombo 1.
Dear Sir / Madam,
Exercising Citizens Rights under Section 3 (1) of the Right to Information Act, No. 12 of 2016
I wish to exercise my rights to access information from Central Bank of Sri Lanka, (being a duly created Public Authority and in my status as a citizen of Sri Lanka), in terms of section 3 (1) of the Right to Information Act, No. 12 of 2016, which reads as “Subject to the provisions of section 5 of this Act, every citizen shall have a right of access to information which is in the possession, custody or control of a public authority”.
I wish to obtain the under noted information from the former Exchange Control Department (since restructured) or any other appropriate Department or Unit of the Central Bank of Sri Lanka:
1. Confirm whether any resident or non-resident Sri Lankan individuals, dual citizens of Sri Lanka and any other country, foreign nationals or foreign registered entities, whether resident or non-resident in Sri Lanka, were granted special permission or special exemptions, post January 2015 and until October 2017, by any Minister or Ministry (with due notice to the Central Bank or the Monetary Board), the Monetary Board of Sri Lanka, the Governor or the Central Bank of Sri Lanka or any Department or Unit of the Central Bank of Sri Lanka, permitting such persons or entities to remit in to Sri Lanka foreign currency, outside of the then prevailing statutory and regulatory provisions and administered or regulated norms and processes of the Central Bank(ie. in terms of the Exchange Control Act (Chapter 423) or any other statutory or regulatory provisions administered or regulated by the Central Bank of Sri Lanka)?
2. If so the number of such inward remittance approvals granted in terms of 1 above ?
3. The total approved transaction values of the of 1 above, specifying the number of transactions in each of the following ranges of value:
a) Below USD 10 million or equivalent
b) Above USD 10 million and up to 100 million USD or equivalent
c) Above USD 100 million and up to USD 500 million or equivalent
d) Above USD 500 million and up to USD 1000 million or equivalent
e) Above USD 1000 million or equivalent
4. The total sums actually remitted in to Sri Lanka against approvals referred to in 1 above?
5. The balance of funds so remitted to Sri Lanka against approvals referred to in 1 above, yet remaining invested in Sri Lanka as at the End of October 2017?
6. Whether any Suspicious Transaction Reports were received by the Financial Intelligence Unit, in connection with the inward or outward remittances of funds received in Sri Lanka in terms of 1 above and the total number and total transaction value of such reports received and the number of reports as at that date, yet pending review, with the total transaction value of such pending reports?
7. Whether any Suspicious Transaction Reports received by the Financial Intelligence Unit, in connection with the inward or outward remittances of funds received in Sri Lanka in terms of 1 above, relates to persons or entities classified as Politically Exposed Persons /Entities as per FATF Recommendations
