Sri Lanka Development Bonds (SLDB)
Sri Lanka Development Bonds (SLDB) are debt instruments denominated in USD, issued by the Government of Sri Lanka through competitive bidding, as an when required. These dollar denominated Sri Lankan Government Bonds have tenures ranging from 3 months up to 5 years.
With interest paid semi-annually, they offer a good alternative investment to dollar deposits and are easily repatriable at maturity or prior if discounted and are government guaranteed.
The minimum investment starts with USD 10,000 & in multiples of USD 10,000 while interest will be calculated based on a fixed or floating margin. The floating benchmark is based on the London Inter-Bank Offered Rate (LIBOR).
SL Development Bonds are issued in scrip form.
FAQ
Can I get the interest paid in Rupees?
No. However, if the interest gets deposited to a local foreign currency account, you can borrow Rupees against it.
Is it possible to invest under joint names?
Yes. Joint accounts can be created for the investments.
What happens if I lose my citizenship midway?
Dual citizens can invest. If you lose your Sri Lankan citizenship you can continue to invest as a foreign national. In addition, non-resident Sri Lankans can invest as well.
