Sri Lankan students in overseas facing financial difficulties amidst ever increasing threat of Covid19 outbreak are being relieved with the permission granted by the Central Bank to their parents to emit money for the from the motherland.
The Central Bank said that family members residing in Sri Lanka are permitted to send money from Sri Lanka to persons who have gone abroad for studies or for medical purposes, being university/tuition/training/ course fees, living expenses, medical charges or as any related fees, etc.
This could be done, through an Authorized Dealer (AD) in foreign exchange (any Licensed Commercial Bank or a permitted Licensed Specialized Bank) upon submitting relevant documentary evidence as usually required by ADs.
This facility is also being given to family members residing in Sri Lanka to send moneyto Sri Lankans who have gone abroad, for short visits for leisure and holidays, meet relatives and friends, pilgrimage, business purposes, training, seminars and conferences, medical treatments, sports, recreational and cultural activities, etc
Such persons can also use their credit, debit (ATM) and foreign travel cards issued to them by ADs for payments or cash withdrawals/obtain cash advances in foreign currency during their stay abroad in respect of transactions of personal nature.
As already informed, the recent measures introduced by CB to ease the pressure on the exchange rate, such as reducing the maximum limit of foreign currency notes issued for travel purpose, restrictions on outward remittances on capital transactions, do not impose any restrictions on remittances/payments for current transactions including overseas educational, medical and family living expenses.
However, the bank requested all concerned parties to make use of this opportunity in a responsible manner.
(LI)