The Central Bank of Sri Lanka (CBSL) is currently taking steps to increase the inflows of foreign remittances to Sri Lanka as well as encourage the use of formal remittance channels when sending remittances to the country. Accordingly, the Central Bank of Sri Lanka initiated a National Remittance Mobile Application branded as “Lanka Remit”. It has been introduced and developed by LankaClear (Pvt) Ltd.

The National Remittance Mobile Application “Lanka Remit” was launched on 8th February by Minister Namal Rajapaksa, Minister of Youth and Sports, Minister of Development Coordination and Monitoring, and State Minister of Digital Technology and Enterprise Development of Sri Lanka.

The “Lanka Remit” National Remittance Mobile Application, provide Sri Lankans working abroad with direct access to the existing remittance channels, as well as facilitates their ability to choose more convenient and cost-effective remittance channels to send money to Sri Lanka.

Bank of Ceylon, People’s Bank, Sampath Bank PLC, Hatton National Bank PLC, National Savings Bank, Commercial Bank of Ceylon PLC, Nations Trust Bank, National Development Bank PLC, Cargills Bank Limited, Mobitel Private Limited, and Dialog Axiata PLC are already in connection with “Lanka Remit” while other remittance service providers are expected to join in the near future.

“Lanka Remit” also expects to offer a number of value-added services such as direct bill payment facility from overseas and to facilitate remittances to Sri Lanka using cards issued overseas.

The Central Bank of Sri Lanka is promoting “Lanka Remit” with the support of stakeholders including the Ministry of Finance, Ministry of Foreign Relations, Sri Lanka Bureau of Foreign Employment, and Bankers’ Association of Sri Lanka.

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