Prime Minister issued an Extraordinary Gazette suspending payments through Outward Investment Accounts for overseas investments by Sri Lankans for 3 months.
Outward Investment Account (OIA) is a special account designated for persons resident in Sri Lanka to channel funds abroad for eligible overseas investments such as investment in Shares, Units, Debt Securities, Sovereign Bonds and establishing of overseas company of a company incorporated in Sri Lanka.
Licensed Commercial Banks are permitted to open and maintain OIA in the name of resident investors in the Domestic Banking Unit of a Licensed Commercial Bank in any designated foreign currency subject to the terms and conditions stipulated in the Government Gazette bearing no. 2045/56 dated 17.11.2017 and the Direction issued on the same.
No Restrictions : Sri Lankans abroad urged to deposit Foreign Currency earnings to local banks