CBSL-SLBFE promote LankaRemit application

In an effort to improve the inflow of workers’ remittances into the national economy, the Central Bank of Sri Lanka (CBSL) yesterday joined hands with the Sri Lanka Bureau of Foreign Employment (SLBFE) to popularise the LankaRemit mobile application.

An event was held yesterday at the SLBFE to promote the features of the mobile application to the migrant workers preparing to commence work abroad.

LankaRemit was launched to provide Sri Lankan expatriates with access to a fast, secure and more convenient remittance channel to send money to 
Sri Lanka. 

The CBSL in collaboration with LankaClear (Private) Limited implemented the LankaRemit mobile application, with the launch of the first phase in February 2022. 

At present, the CBSL is in the process of creating awareness of LankaRemit locally and internationally, with the support of the stakeholders such as the Foreign Affairs Ministry, Labour and Foreign Employment Ministry and SLBFE. 

The application enables users to make fund transfers to beneficiaries in Sri Lanka and to make utility bill payments using Electronic Fund Transfer Cards issued overseas. LankaRemit also offers a number of value-added services to its users such as the ability to locate nearby money transfer operators and find relevant details of such locations.  Further, after the remittance is made via money transfer operators abroad, the user can track each remittance made to beneficiaries in Sri Lanka via the app, using a tracking number. 

Any future benefit schemes introduced for the remitters by the Sri Lankan government or respective authorities, such benefit schemes would also be available in the LankaRemit app, the CBSL said. 

Remittance service providers connected to LankaRemit are continuing to increase and it is expected that more service providers from the financial services industry, including global money transfer operators and global fintechs, will join the app in the near future to facilitate remittances to the country. The LankaRemit mobile application is available to download in Google Play Store, Apple App Store and Huawei AppGallery for any person remitting money to Sri Lanka from any country.