Bank accounts of those who distribute and receive money through unlawful money transmission methods will be freezed with immediate effect, Central Bank Governor Ajith Nivard Cabraal announced today.
“Central Bank urges all migrant Sri Lankans to use only legal channels to repatriate their earnings.” he said.
Last week, Central Bank Governor said that the authorities are collecting information on remittances coming through unofficial channels and action will be take to curb the practices.
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Stating that there are legal channels through which foreign monetary transactions could be made, Cabraal urged the public to use the formal systems for this purpose.
Earlier today, The Central Bank of Sri Lanka (CBSL) announced that Sri Lankan migrant workers will receive an additional Rs. 10 for each US Dollar they convert into Rupees in December this year, through the Sri Lankan Banking System and other formal channels.
courtesy NewsWire
