The Central Bank of Sri Lanka (CBSL) having considered the requests by Sri Lankans working abroad, has decided to continue the payment of an additional Rs. 8 per US dollar for worker remittances, in addition to the incentive of Rs. 2.00 per US dollar under the “Incentive Scheme on Inward Workers’ Remittances”, for workers’ remittances channelled via Licensed Banks and other formal channels and converted into Sri Lankan rupees, until January 31.
The decision to continue this additional incentive of Rs. 10 per US dollar is in response to the favourable developments observed in workers’ remittances in December. The CBSL will also bear the transaction cost incurred by Sri Lankans working abroad up to a defined limit when remitting their money to Sri Lanka via exchange houses and or banks.
A large segment of Sri Lankans working abroad could now remit money to Sri Lanka without any charges. The operating instructions in this regard including the date of commencement will be issued by CBSL in due course.