Bank accounts of those who distribute & receive money through unlawful money transfer methods will be frozen with immediate effect, Central Bank Governor Ajith Nivard Cabraal said.
The Governor also urged all migrant Sri Lankans to use only legal channels to repatriate their earnings.
Earlier, the Central Bank announced that migrant workers will be able to fetch an additional Rs. 10 for every US Dollar they convert into rupees this month. The offer is for US Dollar conversions done via the Sri Lankan banking system and other formal channels.
In a classic case of human smuggling, a man attempting to transport an unknown woman…
Sri Lanka has been voted the Most Desirable Island in the World at the Wanderlust…
Two newly-appointed Ambassadors to Sri Lanka presented their credentials to President Anura Kumara Dissanayake at…
Former Minister Lohan Ratwatte and his wife have been ordered to be remanded further until…
Another contingent of the aviation unit, consisting of 20 officers and 88 airmen of the…
The election campaigning activities for the 2024 General Election are scheduled to end at midnight…
View Comments
In the predicament we are in, this is a step in the right direction. However sad to note that the Hawala informal money transfer system was allowed for decades though it was used for various unlawful activity.