Additional interest for NRFC holders for deposits

A Gazette notification is to be published today on the special financial arrangements made by the Government for Sri Lankans living overseas and foreign nationals willing to invest in Sri Lanka.

Co- Cabinet Spokesman Minister Bandula Gunawardena said the Government has decided to offer an additional 02% interest for Non Resident Foreign Currency (NRFC) account holders when depositing foreign currency.

Addressing the media, he said the arrangements have been made by the Central Bank of Sri Lanka (CBSL) and consists of various benefits, including tax – free concessions.

Foreign currency deposited into NRFC accounts must remain for a minimum period of 6 months, he added. 

Minister Gunawardena said the financial measures are being taken keeping in mind the recent depreciation of the Sri Lanka Rupee against the US Dollar. (Colombo Gazette)

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