A Working Committee appointed by the Central Bank of Sri Lanka (CB) to study and suggest new remittance channels for Sri Lanka has made recommendations on reducing the cost of remitting money, having identified the need to introduce new and low cost remittance channels with the objective of increasing the inflows of foreign remittances while discouraging the use of informal channels.
The Working Committee comprised experienced professionals from Bank of Ceylon, People’s Bank, Sampath Bank PLC, Commercial Bank of Ceylon PLC, Hatton National Bank PLC, The Hongkong and Shanghai Banking Corporation Limited, Cargills Bank Ltd, Dialog Axiata PLC, Mobitel (Pvt) Ltd and CB, the monetary regulator said in a media release
The Working Committee has proposed the implementation of a National Remittance Mobile Application titled “SL-Remit” to attract more remittances to Sri Lanka with features such as self-registration of users, the ability to link to global money transfer operators and global FinTechs to facilitate remittances from any country, instant fund transfer to any bank account/mobile wallet in Sri Lanka. In addition, the application would include value-added services such as direct bill payments, attractive foreign exchange rates and low transaction fees.
The CB will now implement the “SL-Remit” mobile application with the assistance of stakeholders, including the Ministry of Finance, Ministry of Foreign Affairs, Sri Lanka Banks’ Association, Sri Lanka Bureau of Foreign Employment and LankaClear (Pvt) Ltd.
You can share this post!
Content
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.
Gazette on new speed limit regulations to be issued within two weeks
Cabinet has approved a proposed amendment to the Constitution that a referendum would be required to extend the Presidential and Parliamentary term beyond five years.
Leave Comments