Government implements incentive scheme to pay Rs.2 per USD for worker remittances

Dec 21, 2020 (LBO) – The Government in recognition of the role of Sri Lankan’s employed overseas and their contribution to the economy amidst, the challenges arising from the COVID-19 pandemic, proposed in the Budget 2021 an incentive to pay Rs.2 per USD when such employees or their beneficiaries converts such remittances of earnings into Sri Lankan Rupees.

This scheme will be implemented through Licensed Banks with the government bearing the required cost of such incentives paid.

“The necessary instructions on the implementation process will be issued by the Central Bank of Sri Lanka,” the Finance Ministry said.

“All Sri Lankans working overseas are invited to make use of this opportunity to remit their funds through secure sources and earn more at the point of conversion to Sri Lankan Rupees.”