The Central Bank on Thursday said announced an additional interest of 2 percent to Special Deposit Accounts (SDAs) encouraging its holders to roll over these deposits for a further 24 months, in another move to secure much-needed foreign exchange.
“…to attract a substantial amount of foreign exchange into the country and the resultant positive impact on the foreign currency reserve position of the country and the overall economy, the Minister of Finance with the recommendation of the Monetary Board of the Central Bank of Sri Lanka (CB) has decided to grant permission to rollover SDAs up to an accumulated period of 24 months from the initial date of placing such deposits. SDAs so rolled over will be eligible for additional interest up to 2% per annum offered by the Government,” the Bank said in a statement.
The Government of Sri Lanka introduced the SDAs on 08 April 2020 to seek assistance for the national effort to overcome the effects of COVID-19 pandemic in the country. Accordingly, as at 02 July 2021, total deposits received into SDAs amounted to approximately US$458 million.
Former Chairman of SriLankan Airlines, Nishantha Wickramasinghe, arrested on allegation of corruption by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has been remanded until July 1 by the Colombo Magistrate court.
Deputy Minister of Finance and Economic Stabilization and NPP National List MP Harshana Suriyapperuma who is tipped to be named the next Finance Ministry Secretary resigned from Parliament today.
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