Issues facing small importers
We are fully aware of the current situation of the outflow of foreign exchange prevailing today. But small importers who are in the construction field are facing immense problems to sustain and survive with the stringent restrictions.
In my opinion the banks should be more flexible and cooperative with these customers. It’s a saddening fact to witness some senior managers in some banks almost working like robots, adhering to stipulated and often rigid rules.
I know of one glaring example of a customer who established the business for well over 20 years with an extremely healthy bank account, and has never overdrawn the account, never enjoyed any O/D facility or any other facility. He is in a difficult situation. A request for TT (telegraphic transfer) for about 600,000 JY (yen) is denied the remittance and the request is lying in the bank from early September. Isn’t this ridiculous? Many urgent LCs are pending.
Ms. Mangalika Wijetunge Mattegoda