Foreign Direct Investment brought into Sri Lanka, including the oil refinery project in Hambantota, is channeled through the approved local banking system through Inward Investment Accounts (IIA) as per the Foreign Exchange Act and its Regulations in Sri Lanka, the Board of Investment (BOI) said on Thursday.
Responding to criticism of the project and also possible money laundering claims, the BOI said that in the case of the oil refinery project at the Mirijjiwila Export Processing Zone, Hambantota, all financial transactions by the investor are routed through a reputed commercial bank of Sri Lanka. All commercial banks have their own AML/CFT regulations, which are also carefully monitored by the Financial Intelligence Unit of the Central Bank of Sri Lanka, it said. - ENDS -
Customs have detected 228 mobile phones and tabs valued at over Rs 30 million left behind in the duty free shopping complex at the Banaranaike International Airport today, Customs officials said.
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