CMI and KPMG present facts on ‘Changing horizons in the Exchange Control arena’

In an effort to shed light on the challenges and new developments in the Exchange Control arena, the Chartered Management Institute (CMI) – UK’s Sri Lanka branch, recently held a very successful knowledge sharing event, in association with its exclusive knowledge partner, KPMG in Sri Lanka, captioned ‘Changing Horizons of the Exchange Control Arena’ at the Ramada Hotel, Colombo

Central Bank of Sri Lanka Deputy Governor Dr. Nandalal Weerasinghe graced the occasion as the keynote speaker of the event which also featured two presentations on the topics ‘New Developments on Exchange Control’ by Central Bank of Sri Lanka Senior Assistant Director – Legal and Compliance Department Pavithri Vithanage and ‘Shift from Exchange Control Regime to Foreign Exchange Management Regime’ by KPMG Principal – Tax & Regulatory, Suresh R.I. Perera. 

Dr. Weerasinghe touched on the key aspects of the recent changes in Exchange Control formalities in his keynote address and Pavitri Liyanage presented a detailed account of these changes in her address, which she made very interesting with some simple presentation slides.

Suresh Perera’s presentation provided an interesting comparison of many features of exchange control formalities prevalent in India with that of our own regulations.

The two presentations were followed by an interactive panel discussion which was moderated by KPMG Sri Lanka Managing Partner Reyaz Mihular.

Dr. Nandalal Weerasinghe, Pavithri Vithanage and Suresh R.I. Perera, were joined by Central Bank of Sri Lanka Controller of Exchange Yevette Fernando, Urban Development Authority Chairman/NDB former CEO/United Motors Lanka former Chairman Ranjit Fernando and Union Bank of Colombo PLC Assistant Vice President Chaya Gunarathne at this panel discussion

The Q & A session that followed drew a lot of interesting questions from the large number of participants who made use of the expert knowledge of the eminent speakers and panel members to clarify certain issues with regard to the changes and their implications.

A past VP of CMI SL V Satyendran raising a querry

CMI Sri Lanka branch and KPMG Sri Lanka hopes to continue their partnership on similar knowledge sharing initiatives, bringing together industry professionals from various sectors, to share their expertise on topics that are of relevance to the Sri Lankan business environment.