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Message: <blockquote data-quote="eranga_rama" data-source="post: 15057134" data-attributes="member: 85571">Sri Lanka looking at freeing inward Paypal payments: CB Governor                                            30 May, 2013             06:38:35                                   May 30, 2013 (LBO) - Sri Lanka is  looking to give the freedom of getting inward payments through Paypal, a  cost-effective global remittance and payments system that has helped  boost e-commerce in many countries, Central Bank Governor Nivard Cabraal  said.                                                                                   "We are looking at it seriously," Central Bank Governor Nivard Cabraal told LBO.  "We have to move with the times." Cabraal had progressively removed several odd exchange controls imposed  on Sri Lankan citizens in the past, expanding their economic freedoms.  Critics say many exchange controls are violated by the rich and powerful  but only held back the activities of honest citizens.  Exchange controls were slapped on citizens in many countries after 1950  after they joined the failed Bretton Woods system which tried to defy  laws of nature by printing money and trying to maintain an exchange rate  peg at the same time. Sri Lankan's can currently make use of the Paypal system to make  payments via their credit cards which results in an outflow of cash but  cannot receive cash because the system's accounts are not allowed to be  linked to banks accounts in this country. Paypal has expanded worldwide helping make small payments to internet based businesses.  People from USA to Vietnam are using Paypal to run a variety of  businesses ranging from selling goods online through ebay.com an auction  site running flower delivery businesses and small time outsourcing  activities. Lack of Paypal inward remittance had  been a key problem for expanding internet based business in Sri Lanka  especially small time outsourcing work done through the internet by  independent workers.  To receive money through conventional means such as mailed cheques or  cash transfer companies results in high fees charged to Sri Lankan  receivers, each time a remittance is made.<a href="http://www.lankabusinessonline.com/news/sri-lanka-looking-at-freeing-inward-paypal-payments:-cb-governor/1101398516" target="_blank">http://www.lankabusinessonline.com/news/sri-lanka-looking-at-freeing-inward-paypal-payments:-cb-governor/1101398516</a>Good news guys<img src="/styles/default/xenforo/smilies/default/cool.gif"  class="smilie" loading="lazy" alt=":cool:" title="Cool    :cool:" data-shortname=":cool:" /></blockquote>

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