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Central Bank instructs banks to defer payment of cash dividends

The Monetary Board of the Central Bank having considered the possible adverse impact on liquidity and other key performance indicators of licensed commercial banks and licensed specialised banks have issued directions on restrictions on discretionary payments of licensed banks.
Accordingly, these directions shall be applicable to every licensed bank incorporated or established in Sri Lanka and every licensed bank, which is a branch of a bank incorporated or established outside Sri Lanka, on a standalone basis.
Restrictions on Discretionary Payments:
– Every licensed bank incorporated or established in Sri Lanka shall defer payment of cash dividends until the financial statements for the year 2020 are finalised and audited by its External Auditor. ....

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Sunday Times - Fast track Budget implementation of incentives for Lankan workers employed overseas

Sunday Times - Fast track Budget implementation of incentives for Lankan workers employed overseas
sundaytimes.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sundaytimes.lk Daily Mail and Mail on Sunday newspapers.

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Sri Lanka : Government offers incentives for Sri Lankan workers employed overseas to remit funds

Sri Lanka : Government offers incentives for Sri Lankan workers employed overseas to remit funds
colombopage.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from colombopage.com Daily Mail and Mail on Sunday newspapers.

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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.” ....

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