Colombo, Aug 1 (TIWN) The Central Bank of Sri Lanka (CBSL) has warned that companies and individuals that do not comply with all regulations on foreign exchange transactions will be punished sternly, local media reported on Monday.

To ensure adequate foreign exchange liquidity in the banking system, the central bank had to impose surrender requirements on export earnings.  The success of these regulatory measures and the ability to achieve the intended outcomes depend on the support and cooperation from the trading community and the banking system, the bank said.