Wednesday, January 14, 2009

Now OPEN: Treasury bill and Treasury bond Market for Sri Lankan Diaspora

Treasury bills and Treasury bonds are issued by the Government of Sri Lanka to Sri Lankan Diaspora and Migrant Workforce since January 6th, 2009.

Through this scheme, it is expected to widen the investor base, diversify the Government Securities market, make it more convenient for Sri Lankans living abroad to access Government Securities, and to create a more stable Government securities market.

This scheme will also provide a safe and highly liquid investment opportunity for Sri Lankans living abroad, while providing them with an attractive return on their investments.

To facilitate this endeavour, which is expected to cover almost the entire globe, six Joint Lead Managers, namely, Bank of Ceylon, Commercial Bank of Ceylon PLC, National Savings Bank, NatWealth Securities Ltd., People’s Bank and Sampath Bank have been appointed.

Investments in Treasury bills or Treasury bonds could be channelled through any one of the Joint Lead Managers, using the Treasury bill/bond Investment External Rupee Account-D (TIERA-D) to be opened by the investor for that purpose.Remittances into and out of TIERA-D accounts would be free from exchange controls.This scheme will benefit, Sri Lankans living abroad, including Sri Lankans who have made their permanent residence overseas (Non-residents), citizens of Sri Lanka who have taken up overseas employment or set up business abroad, citizens of Sri Lanka with dual citizenship living in Sri Lanka or abroad, and Sri Lankan professionals living in Sri Lanka or abroad who earn income in foreign currency.

Extract from an email from NatWealth Securities Ltd:

We forward herewith the Account Opening Forms for your Investment in Government Securities and also for Your FCY account (TIERA- D).

The Interest rates based on the Auction held today at Central Bank:

3 Months - 15.25%
6 Months - 16 00%
1 Year - 17.25%


We trust that the above rates quoted by us would be of interest to you and we attach herewith our Company Mandate for completion by you in the event of you deciding to invest funds with us.

Chandra J Dias
Chief Executive Officer
Email: chandrad@natwealth.com
NatWealth Securities Ltd.
17A, Barnes Place
Colombo – 7.
TEL: + 9411 4716274 / +94 712779867
Fax: +9411 4716275

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