Banks watchful...

“Cyber threats and other factors are also being considered at the moment but it depends on the extent of the transaction,” he added.

Silva asserted that although banks are exercising caution, no limitations would be imposed on transactions made by education, hospital, airline, insurance, and hotel merchants.

Silva also pointed out that as several media reports highlighted that banks were charging an additional fee for foreign currency transactions, banks have held active discussions in that regard and are exploring avenues to best manage the situation.