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 -
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
The Cabinet has approved a proposal for Sri Lankans overseas to apply for their passports through an online system via the Lankan diplomatic missions.
Ajith Gallage, the owner of a Bird Park in Nagarawawa, Hambantota, has been remanded over allegations of concealing illegally imported motorcycles, in a warehouse owned by him.
A passenger attempting to smuggle the largest quantity of gold of 35 kilo grams was arrested by the Customs at the Bandaranaike International Airport (BIA) today, a senior official said.
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