Central Bank Is Planning To Curb Unofficial Remittance Sources 
Posted 27,November

By Chaveendra Dunuwille

In Local News

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The Governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal, informed reporters on Thursday that the government is collecting information on remittance coming through unofficial sources to curb the practice. 

Sri Lanka’s remittance fell from $702.7 million to $353.2 million in September 2021. The CB Governor stated that the reduced expatriate workers going out and higher rates in unofficial sources have led to this situation. 

The government has plans to give extra benefits such as pensions to encourage remittance through official channels and limit unofficial sources and mirror image transactions.