Some licensed commercial banks and registered companies in Sri Lanka have expressed their consent in obtaining loans from outside Sri Lanka to invest in Sri Lankan Government International Sovereign Bonds.
Taking into account the overall benefits available to the country the Monetary Board of the Central Bank of Sri Lanka has agreed to allow licensed Commercial Banks, National Savings Banks and appropriately non-finance companies registered under the Companies Act No. 7 of 2007 to purchase international sovereign bonds of the Government of Sri Lanka/ Sri Lanka Development Bonds, subject to certain conditions.
Accordingly, the Cabinet of Ministers approved the proposal presented by Prime Minister in his capacity as the Minister of finance to issue orders under Section 7 (1) of the Foreign Exchange Act No. 12 of 2017 to facilitate non-financial companies registered under the Companies Act No. 7 of 2007 to act accordingly, and to submit such orders to parliament for approval.
