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Sri Lanka receive US$450mn after ‘Swiss bank’ move: Finance Minister

ECONOMYNEXT – Sri Lanka’s banks have received 450 million US dollars from overseas after accountholders at Swiss banks were invited to come to Sri Lanka, Finance Minister Ravi Karunanayake said.

On October 02, Karunanayake invited Sri Lankans and other nationals who had deposited money in Swiss banks at low interest rates to bring the money to the island with no questions asked. (Sri Lanka offers blanket amnesty for cash repatriated from Swiss Bank accounts)

Already 450 million US dollars had flowed into the country, including from Saudi and Qatar, Karunanayake told the Foreign Correspondents Association in Colombo.

Karunanayake said in October that the money has to be come under normal banking laws.  He said some Swiss Banks were asking customers to move out and they could come to Sri Lanka where interest rates were higher.

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