Lankapage Logo CP 21 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Cabinet decides to extend deadline to open Special Deposit Accounts
Tue, Apr 6, 2021, 09:05 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 06, Colombo: The Cabinet of Ministers has decided to further extend the validity period for opening Special Deposit Accounts (SDAs) under the Foreign Exchange Act.

The relevant orders have been issued under the Foreign Exchange Act No.12 of 2017 to allow the provisions to open a special deposit account which effect from April 2020 with a view to attract the remittance of foreign currency into the country, a statement on cabinet decisions said.

Cabinet of Ministers have also approved to pay an additional interest with a view retain the prevailing deposits of the said accounts further.

Accordingly, as at March, 2021, total deposits in the said accounts amounted to US$ 360.3 Million.

The validity period for opening the SDAs will expire this month. The government earlier extended the validity period of opening SDAs up to 07 April 2021 on recommendation of the Monetary Board of the Central Bank of Sri Lanka.

The Cabinet of Ministers approved the proposal tabled by Prime Minister Mahinda Rajapaksa as the Minister of Finance to extend the validity period and to issue orders in accordance with the provisions of the Foreign Exchange Act to encourage the parties who wish to deposit money further.

 

ColomboPage - Recent 10 Stories ::
Coronavirus update: 284 new COVID-19 cases identified Saturday, total rises to 94,848
-- [8 hours ago]
FM apprises EU envoys on political and economic developments in Sri Lanka
-- [8 hours ago]
Rs. 5000 allowance to low income and Samurdhi recipient families for the New Year
-- [9 hours ago]
India- Sri Lanka Police Chiefs’ Dialogue aims to enhance existing cooperation between the police forces
-- [9 hours ago]
109 samples of coconut oil certified to be free of toxic chemicals
-- [9 hours ago]
Sri Lanka reports one COVID-19 death Saturday, toll rises to 596
-- [9 hours ago]
Sri Lanka Air Force swimmer Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back
India finalizes an air bubble agreement with Sri Lanka
As Sri Lankan economy recovers, focus on competitiveness and debt sustainability will ensure a resilient rebound - World Bank
Post-harvest losses of fruits and vegetables cost Sri Lankan economy Rs. 20 billion annually

Copyright © 2000, 2020 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.