The following measures will be implemented with effect from 11th March 2010, in relation to foreign exchange transactions:

• The following categories of resident Sri Lankans will be permitted to open and maintain bank accounts abroad:



• Persons earning foreign exchange from investments abroad as approved by the Central Bank,
• Persons engaged in providing international professional services in Sri Lanka or abroad,
• Persons engaged in any occupation abroad,
• Persons who have proceeded outside Sri Lanka for education and/or for medical treatment, and
• Exporters of goods.
  
  
• Forward contracts in foreign currency to cover foreign exchange transactions related to trade in goods and services, remittances and approved foreign lending and borrowings, will be permitted.
  
  
• The present 100% margin deposit requirement against advance payments on the invoice value of selected items to be imported, will be removed.
  
  
• The suspension on the pre-payment of import bills will be lifted.
  
  
• The existing different investment accounts, namely Share Investment External Rupee Accounts (SIERA), Treasury Bond Investment External Rupee Accounts (TIERA), Treasury Bill Investment External Rupee Accounts (TIERA-2), and Treasury Bill/Bond Investment External Rupee Accounts – Deshabhimani (TIERA -D) maintained by non-residents in commercial banks will be permitted to be unified. The unified account will be renamed as Securities Investment Account (SIA).