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Sri Lanka officially gets expanded PayPal access - Hiru News
An expansion of PayPal services in Sri Lanka became official this morning (16) in Colombo, marking a major milestone for the country's digital economy. Prime Minister Dr. Harini Amarasuriya led the event.Sri Lankan PayPal accounts previously faced a "Send Only" restriction, which permitted users to make foreign payments but prevented them from receiving funds from overseas clients.This expanded service allows online freelancers and small-to-medium enterprises (SMEs) to receive earnings directly into local bank accounts, a move expected to increase official foreign exchange inflows into the country.The Presidential Media Division announced that this breakthrough follows twelve years of negotiations, delays, and continuous efforts. The statement described the development as a transformative step for Sri Lanka's digital economy, freelancing community, IT sector, startups, SMEs, exporters, and e-commerce industries.Bank of Ceylon, Commercial Bank, and Sampath Bank will initiate the service locally, with other banks expected to join later.Established in California in 1998, PayPal operates as one of the largest digital payment platforms globally, serving over 430 million users across 200 countries and processing more than 1.5 trillion US dollars in transactions annually.The platform sees widespread use across global freelancing and e-commerce networks.This partnership aligns with key goals on the national digital economy agenda, including building an inclusive economy, encouraging digital entrepreneurship, and strengthening connections with international markets.The expansion of cross-border payment options gives small businesses and entrepreneurs a better opportunity to participate actively in global trade.The Presidential Media Division noted that participating banks will provide further instructions on how to access these services, and interested individuals or businesses can contact their financial institutions directly for details.The current government's economic growth blueprint centers on equity, transparency, and accountability, with digital transformation serving as a vital component, Prime Minister Dr. Harini Amarasuriya pointed out during the event.The Prime Minister expressed confidence that the partnership will deliver expected benefits, adding that it aims to build economic stability, enhance resilience, and position Sri Lanka regionally and globally as a strong, self-reliant nation rather than a mere follower.Sri Lanka's role in the digital econo...
Wrong bank transfer costs SriLankan Airlines millions - Hiru News
A financial irregularity exceeding Rs. 85 million occurred during a payment process at SriLankan Airlines, according to Member of Parliament Dayasiri Jayasekara.The Chennai branch mistakenly routed a monthly payment, due in February 2026 to a Dubai sales agency, to the wrong bank, the MP stated. While the legitimate account sits with Emirates NBD PJSC Bank, the Chennai branch of SriLankan Airlines accidentally credited the funds to an account at the Abu Dhabi Islamic Bank.The mishap involved a sum of 974,050 Dirhams, which equates to over Rs. 85 million. The inability to recover these funds created a major crisis for the airline, the MP added.
IMF raises concerns over fuel subsidies ahead of Sri Lanka ...
10 hours ago ... hitcounter · Hiru News. Home · Local · World · Entertainment · Business · Sports ... Sri Lanka officially gets ...
Sampath Bank unveils 'Mastercard Business Credit Card' to power ...
8 hours ago ... Sampath Bank unveils 'Mastercard Business Credit Card' to power SME growth Hiru News Most visited website in Sri Lanka,Sri Lanka Latest news updates from ...
