There is a downward trend in the usage of cheques in Sri Lanka, says the Chief Executive Officer of Lanka Clear which handles the cheque clearance in the country.

While speaking to www.adaderanabiz.l, Lanka Clear CEO Sunimal Weerasuriya said around five years ago his institution handled some 200,000 cheque clearances per day and that now it clears only around 170,000 cheques.

“This trend has developed since the public has quickly turned towards electronic financial transactions. This is a common trend the world over. Lesser cheques are used in financial transactions in developed countries,” added Sunimal Weerasuriya.