CBSL and SLBFE jointly promote LankaRemit mobile app

The Central Bank of Sri Lanka (CBSL) and the Sri Lanka Bureau of Foreign Employment (SLBFE) held a ceremony on August 26, 2022 at the SLBFE to showcase the features of the LankaRemit National Remittance mobile application, in the aim of popularizing it among migrant workers.

LankaRemit provides Sri Lankan expats 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 (LCPL) has set up the mobile application “LankaRemit” with the launch of the first phase in February 2022.

CBSL is promoting “LankaRemit” locally and internationally with the support of stakeholders such as Ministry of Foreign Affairs, Ministry of Labor and Overseas Employment and SLBFE.

LankaRemit allows users to make money transfers to recipients in Sri Lanka and make utility bill payments using electronic funds transfer cards issued abroad.

The mobile app 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 about those locations.

Additionally, once the payout is made through overseas money transfer operators, the user can track every payout made to recipients in Sri Lanka through the app using a tracking number.

If there are any future benefit schemes introduced for the senders by the Sri Lankan government or the respective authorities, these benefit schemes will also be available in the LankaRemit App.

The LankaRemit mobile app is available for download from Google Play Store, Apple App Store and Huawei AppGallery for anyone transferring money to Sri Lanka from any country.

Remittance service providers connected to LankaRemit continue to grow 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 Sri Lanka.

The features and benefits of LankaRemit were demonstrated to migrant workers who were preparing to start working abroad. The ceremony was honored by guest of honor Hon. Manusha Nanayakkara, Minister of Labor and Overseas Employment, Dr. P. Nandalal Weerasinghe, Governor of CBSL, and Mr. AAM Hilme, Vice President, SLBFE on behalf of Mr. Mahendra Kumarasinghe, President, SLBFE as well as heads of several institutional governments, financial institutions and payment service providers.

This event is expected to boost awareness and adoption of the LankaRemit app among Sri Lankan expats and encourage the use of formal remittance channels when sending funds to the country.

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