Sri Lanka Interbank US Dollar On-line Payment System / Guidelines And Specifications
Eligibility to participate in the System
All licensed commercial banks operating in Sri Lanka are eligible to participate in this system as a participant. The Participant must be able to provide data in the Sri Lanka Interbank US Dollar On-line Payment System file format as specified by LankaClear under its technical specifications.
 
Participants
End customer can enjoys the Sri Lanka Interbank US Dollar On-line Payment System service from following Banks.

1.   Amana Bank PLC
2.   Cargills Bank Limited
3.   Habib Bank Limited
4.   Hatton National Bank PLC
5.   ICICI Bank Limited
6.   Sampath Bank PLC
7.   Seylan Bank PLC
8.   Bank of Ceylon 
9.   Commercial Bank of Ceylon PLC
10. Public Bank Berhad


Sri Lanka Interbank US Dollar Payment System clearing process in brief

 
 

Net Settlement Process
The only one net settlement cycle is available per business day. The sessions are defined as session 2 which starts in the morning and the session 1 which starts at latter part of the day. Each participating bank has an account with the settlement bank. The movement of funds in and out of the respective settlement accounts maintained by the participating banks takes place through the NOSTRO account arrangements in settlement of the participating banks.

Cutoff times for Participating Banks
The Cut-Off time for Outward submission & Inward download are listed below.

Clearing Leg Window Open Window Close Activity From To
Session – 2 Outward 9:00 a.m. 12:00 p.m. Submit Outward via BCM Presenting  Bank LCPL
Session – 2 Inward 12:45p.m. 6.00 p.m. Download Inward &  Reports via BCM LCPL Paying Bank
Session – 1 Outward 3.00 p.m. 6.00 p.m. Submit Outward via BCM Presenting  Bank LCPL
Session – 1 Inward 6.45 p.m Next Business day 12.00 p.m Download Inward &  Reports via BCM LCPL Paying Bank
 
 
Business Continuity of Sri Lanka Interbank US Dollar Payment System
LankaClearhas a fully-fledged Disaster Recovery Site to cater to any emergency situation in order to minimize any adverse impact on Sri Lanka Interbank US Dollar On-line Payment System participants.