What is it?
Resident Foreign Currency Accounts scheme is for Sri Lankans who are residing in Sri Lanka. It gives an opportunity for them to keep their foreign currency in Sri Lanka. Credits to these accounts are restricted to proceeds of foreign currency remittances received in the name of the account holder. Debits to these accounts are freely permitted. However they cannot send advance payments for imports unless the CIF Colombo value of the import is not more than USD 7,500. Funds can be remitted only for purposes authorized by Exchange Control and therefore no Capital account transactions are permitted.

Who is eligible to open an account?
- Sri Lankan citizens residing in Sri Lanka.
- Initial deposit requirement is USD 100 or an equivalent of any other foreign currency
   accepted by the Bank.

What are the benefits?
- Accounts maintained in foreign currency.
- Available in the form of Savings or Fixed Deposit accounts.
- Interest earned in foreign exchange.
- Funds can be remitted for authorized purposes without any Exchange Control approval.
- Interest income exempted from income tax.
- SET -FAMILY CARD facility.