Securities Investment Accounts (SIA)

With the relaxation of foreign exchange transactions in Sri Lanka, the Central Bank has introduced SIA accounts for eligible investors for investments in Government securities, equity capital of companies incorporated in Sri Lanka and units of unit trusts in Sri Lanka. In line with these new Central bank guidelines, ICICI Bank Securities Investments Accounts (SIA) has been designed to offer you a reliable and secure platform towards making investments in Sri Lanka and maximize returns on your investment.

Benefits

Eligible Investors:

  • Foreign Institutional investors such as Country funds, regional funds and mutual funds.
  • Corporate bodies incorporated outside Sri Lanka
  • Citizens of foreign states whether resident in Sri Lanka or outside Sri Lanka
  • Non- Resident Sri Lankans
  • Sri Lankan professionals living in Sri Lanka who receive inward remittances in foreign currency.

 

Permitted Credits:

  • Inward remittances received from abroad
  • Transfer of funds from NRFC/RNNFC/FCBU accounts of the same account holder
  • Sale proceeds realized out of sale or transfer/ maturity of T bonds/ T bills or any income realized by way of capital gain thereof.
  • Sale proceeds of shares and dividends earned.
  • Dividend income on units of unit trusts
  • Proceeds on redemption of units
  • Commissions relating to share transactions
  • Liquidation proceeds of companies
  • Interest received on T-bonds

 

Permitted Debits:

  • Payments for investment in shares/units of unit trusts/ T- Bonds/ T-bills
  • Outward remittances of sale/redemption/maturity or liquidation proceeds of shares/units/ T-bonds/ T-bills and dividends of shares or units
  • Payments to brokers, primary dealers, Lead managers, management company of a unit trust and bank charges
  • Payments for local expenses of the account holder.
  • Transfer of funds to the accounts maintained by the account holder at FCBU