To attract more workers’ remittances and improve foreign liquidity, the Monetary Board of the Central Bank of Sri Lanka (CBSL) decided to pay an incentive of LKR 8 per every US Dollar converted to Sri Lankan rupees for workers remittance.
The move was announced through a press release on December 1st, 2021. The LKR 8 incentive comes in addition to the current incentive of LKR 2 under the Incentive Scheme on Inward Workers’ Remittance.
Therefore, for every US Dollar converted to Sri Lankan Rupees from the 1st – 31st December 2021 via licensed banks (LB’s) and other internationally accepted formal channels, a total remittance of LKR 10 will be provided.
To further encourage remittance through official channels, the Central Bank and other local authorities are taking steps to restrict informal fund transfers.
No.820, Mount Cresent,Malabe,Sri Lanka