CBSL announces new incentive for foreign remittances by migrant workers

Sri Lanka Central Bank
Sri Lanka Central Bank

The Central Bank of Sri Lanka (CBSL) has announced a new incentive scheme for forex remitted by Sri Lankan migrant workers.

Accordingly, Rs. 1,000 incentive will be given for remitted forex of migrant workers equivalent to Rs. 20,000 or more in a single transaction.

The Central Bank said the incentive is granted as reimbursement of transaction cost from licensed banks or remittance-receiving agents.

According to the Central Bank, this applies only to remittances received to Rupee Accounts maintained in licensed banks and over-the-counter cash receipts.

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