The Central Bank’s move to securitise foreign currency receipts has received seven responses which are being reviewed for a final decision. 

Mid-November, the CBSL, on behalf of the Government, requested proposals from the international investor community for the arrangement of a medium-term foreign currency financing facility by securitising the foreign currency receipts under the mandatory sale of 10% of workers’ remittances converted by licensed banks. 

The deadline for submitting responses was 30 November 2021.

“Seven responses, among which there were five leading international banks and two established investment arrangers,” the CBSL said yesterday, adding: “These responses are being reviewed to determine the most suited modality to initiate the securitised financing arrangement.”

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