There have been no new regulations introduced in the banking of foreign remittances in local banks, said Finance Minister Ravi Karunanayake.

The news reports in certain weekend media that when over Rs. 200,000 is remitted and banked locally its source has to be revealed is incorrect and there has been no such changed introduced, added the Finance Minister.

The Central Bank’s Monetary Intelligence Division Director H. Amaratunga said there has been no other regulation introduced to the existing rules and regulations currently in place when banking foreign remittances in Sri Lanka. Also, there has been no such Gazette notifications as well.