A new incentive scheme has been introduced for foreign exchange sent by Sri Lankan expatriate workers using official channels.
The Central Bank of Sri Lanka (CBSL) has announced that an incentive of Rs.1,000 will be granted for every remittance of Rs. 20,000 or more in a single transaction by expatriate workers.
According to the Central Bank, the incentive is granted to reimburse the transaction cost which is levied from expatriate workers by licensed banks or remittance-receiving agents.
The Central Bank noted that the incentive scheme is applicable only to remittances received to Rupee Accounts maintained at licensed banks and over-the-counter cash receipts.
