Press briefing of Cabinet Decision taken on 2021-06-28

Accommodating Companies incorporated in Sri Lanka to invest in the Sri Lanka International Sovereign Bonds

- Several Licensed Commercial Banks and few Companies registered in Sri Lanka have expressed their willingness to borrow from outside Sri Lanka in order to invest in the Sri Lanka International Sovereign Bonds. Having considered the overall benefit to the country, the Monetary Board of Central Bank of Sri Lanka (CBSL) has agreed to permit Licensed Commercial Banks, the National Savings Bank and non financial corporates registered under the Companies Act, No.7 of 2007 from time to time, to purchase Sri Lanka International Sovereign Bonds/Sri Lanka Development Bonds subject to certain conditions. As such, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance to promulgate regulations under section 7 (1) of the Foreign Exchange Act, No.12 of 2017 for facilitating the non financial corporates registered under the Companies Act, No.7 of 2007 to pursue action accordingly and to submit the said regulations in Parliament for approval, was approved by the Cabinet.