The Central Bank of Sri Lanka (CB) has teamed up with the Foreign Employment Bureau to promote the LankaRemit mobile application to promote it among migrant workers.
The CB and the Sri Lanka Bureau of Foreign Employment (SLBFE) held a ceremony at the SLBFE recently to demonstrate its features. LankaRemit provides Sri Lankan expatriates with access to a fast, secure and more convenient remittance channel to send money to Sri Lanka. The CB in collaboration with LankaClear (Private) Limited (LCPL) implemented the ‘LankaRemit’ mobile application with the launching of the first phase in February 2022. The CB is in the process of creating awareness of ‘LankaRemit’ locally and internationally with the support of stakeholders such as the Ministry of Foreign Affairs, Ministry of Labour and Foreign Employment and the SLBFE. The app enables users to make fund transfers to beneficiaries in Sri Lanka and to make utility bill payments using Electronic Fund Transfer Cards issued overseas. LankaRemit also offers a number of value-added services to its users such as the ability to locate nearby money transfer operators and find relevant details of such locations.