Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
SRI LANKA NATION BUILDING BONDS Tenure: The tenure of SLNBBs is five years. The Sri Lanka Nation Building Bond (SLNBB) is a debt instrument of the Government of Sri Lanka (GOSL) issued in terms of the Foreign Loans Act No. 29 of 1957. The Public Debt Department of the Central Bank of Sri Lanka (CBSL), on behalf of the GOSL, will issue SLNBBs. Interest Rates: Interest is computed on a variable rate based on five year tenure of US Government Securities, UK Government Securities or German Government Securities, (as applicable). Interest will be paid at the end of every six months to bank accounts designated by the investor. Investors can get their interest and principal payments either in Sri Lanka Rupees or in foreign currency in which the investment has been made to their accounts. Both the principal and interest on SLNBBs are repatriable. Eligibility The following categories of persons are eligible to purchase SLNBBs. a) b) c) d) e) Sri Lankans who have their permanent residence overseas (non residents). Citizens of Sri Lanka who have taken up overseas employment or set up business in abroad. Citizens of Sri Lanka with dual citizenship. Sri Lankan professionals living in Sri Lanka or abroad who earn income in foreign currency. Banks acting in fiduciary capacity on behalf of the above categories. Salient Features of SLNBBs Issuing currency: SLNBBs denominated in US Dollars, Sterling Pounds, and Euros. Investment: The minimum amount to be invested is as follows. Currency US Dollars Sterling Pounds Euros Amount 500 250 500 Transferability: SLNBBs can be transferred among eligible investors by registration at the Public Debt Department. Custodian Bank The Deutsche Bank AG, No 86, Galle Road, Colombo 3, Sri Lanka, as the custodian bank for SLNBBs will maintain records of investments in scripless form and will make all payments to investors on due dates. The Custodian Bank will issue statements confirming the balances of investors. Lead Manager The Bank of Ceylon, No 4, Bank of Ceylon Mawatha, Colombo 1, Sri Lanka, as the Lead Manager, will assist the CBSL to raise money from the targeted group by deploying a marketing programme. Form of Issue: SLNBBs will be issued in scripless form Tax Treatment: Interest earnings on SLNBBs are exempted from income tax/withholding tax/stamp duty. Investors are entitled to import a vehicle of their choice with a payment of 25% of CIF value in lieu of CD, VAT & import duty. The CIF value of the vehicle cannot exceed 20% of the face value of the bond acquired by the investor subject to a maximum value of US $ 35,000 and the importation is subject to guidelines. Joint Holders SLNBBs can be held individually or jointly by the investors. Repayment of principal and the payment of interest are made to the person whose name appears first on the respective record or to the surviving holder whose name appears next on the record in the event of death of the first or subsequent holder. How to Apply for SLNBBs Application Forms: Applications for investments and transfer of SLNBBs can be obtained from the ALM unit, Treasury Division, Bank of Ceylon directly or downloaded from the websites of Central Bank of Sri Lanka - www.cbsl.lk or Bank of Ceylon www.boc.lk or Deutsche Bank - www.ap.db.com/srilanka. Application can be sent electronically via e-mail, facsimile or by post. Application should be supported by documentary evidence regarding the eligibility eg. Photocopies or scanned copies of pages of passport containing the photograph and the details of the investor and proof of earning foreign currency and proof of living /employment aboard etc. as may be relevant. How to Transfer Funds? Eligible investors can transmit funds to CBSL account through the branch network of the Deutsche Bank AG directly or through their correspondent banks or any commercial bank by remitting the funds to the following bank accounts indicating the purpose as “subscription to the Government of Sri Lanka SLNBBs” 1. Further Information: Further information on SLNBBs can be obtained from 1. ALM Unit, Treasury Division, Bank of Ceylon, 4, Bank of Ceylon Mawatha, Colombo 1 US Dollar investments Tel : 94 -11-2395804 94-11-2471605 Fax : 94-11-2386860 Email : [email protected] Website : www.boc.lk Name of the Bank: Deutsche Bank Trust Co., (SWIFT: BKTRUS33) Americas, New York Postal Address: P.O. Box 318, Church Street Station, N.Y., New York 10008-0318 2. A/c No. 04-422-614-DB Colombo 2. Sterling Pound investments Name of the Bank: Deutsche Bank , London (SWIFT: DEUTGB2L) Postal Address: 6, Bishopsgate, P.O. Box 441, London EC 2P 2AT, England A/c No.0341743-0000-GBP-000-LDN -DB Colombo 3. Euro investments Name of the Bank: Deutsche Bank , Frankfurt (SWIFT: DEUTDEFF) Postal Address: TZE – Bankenabteilung, Postfach 5223, D-6236 Eschborn, Germany A/c No. 9572900-DB Colombo Foreign Currency Investment Division, Central Bank of Sri Lanka No 30, Janadhipathy Mawatha, Colombo 1 Sri Lanka Tel : 94 -11-2477270 94-11-2477291 Fax : 94-11-2477718 / 9 Email : [email protected] Website : www.cbsl.lk Democratic Socialist Republic of Sri Lanka Sri Lanka Nation Building Bonds