CSE signs MoU with Seylan Bank to streamline foreign investment

The Central Depository Systems (Pvt.) Limited (CDS), a wholly-owned subsidiary of the Colombo Stock Exchange (CSE), signed a memorandum of understanding (MoU) with Seylan Bank PLC to enhance the facilitation of Inward Investment Accounts (IIAs) for non-resident Sri Lankans and foreign individuals who wish to open CDS accounts through the CSE mobile app. The collaboration between Seylan Bank and CDS, which serves as the depository and custodian for securities traded on the CSE, is the latest initiative of ongoing efforts to strengthen market infrastructure and improve investor accessibility. 

This partnership enables non-resident Sri Lankans and foreign investors to request IIAs when opening CDS accounts via the CSE mobile application, with essential applicant information exchanged between CDS and Seylan Bank, to ensure efficient and compliant account setup.  This milestone is the latest amongst several CDS initiatives to streamline investment and engagement in the Sri Lankan capital market, as Seylan Bank joins several major financial service providers in providing the streamlined IIA application process.