CB to freeze bank accounts that use unlawful money transmission methods

2 December 2021 09:41 am - 0 - {{hitsCtrl.values.hits}}

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Migrant workers will be able to fetch an additional Rs.10 for every US Dollar they convert into rupees this month

Bank accounts of those who distribute and receive money through unlawful money transmission methods will be frozen with immediate effect, Central Bank Governor Ajith Nivard Cabraal said yesterday.

The Governor also urged all migrant Sri Lankans to use only legal channels to repatriate their earnings. Earlier, CB 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.

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CB to freeze bank accounts that use unlawful money transmission methods

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