Incentive for worker remittances | Sunday Observer

Incentive for worker remittances

5 December, 2021

The Monetary Board of the Central Bank will pay an incentive of Rs. 8 per US dollar for workers’ remittances, in addition to the existing incentive of Rs. 2 under the “Incentive Scheme on Inward Workers’ Remittances”, when such funds are remitted through Licensed Banks (LBs) and other internationally accepted formal channels and converted into Sri Lankan rupees up to December 31.

The total incentive for inward workers’ remittances converted into Sri Lankan rupees during December will be Rs. 10 per US dollar. The additional incentive provided by the CBSL is expected to attract more workers’ remittances to the country through the formal banking channels.