Finance Minister vows to further ease conditions imposed on foreign money

Finance Minister vows to further ease conditions imposed on foreign money

Finance Minister vows to further ease conditions imposed on foreign money

Written by Tharushan Fernando

21 Oct, 2015 | 9:16 pm

Speaking in Parliament, Minister of Finance Ravi Karunanayake stated that measures will be taken to further ease the conditions imposed on foreign money.

The Minister of Finance added:

Starting today NRFC depositors will be able to provide instruction via a telephone call or an email or by writing and we will recommend the Central Bank to facilitate this process.

He went on to stated:

Earlier, when the bond system was in place, around 50 to 60 million rupees was lost by the country over the past two to three months and therefore there was an issue with the stability of the rupee. So, we held discussions and we need to move ahead in this modern world. But the only threat to us is that the regulations that are in effect have been an obstacle to the rapid development and if there are any negative impacts – present it to us because we will remain flexible on this matter and will keep you appraised.

 

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