A 36-year-old man has been arrested by the STF for possessing US$ 50,000 during a raid in Welikada in Rajagiriya yesterday.
Police said that STF officials are continuing operations to arrest individuals who are involved in illegal Undiyal & Hawala money transfer systems.
Last week, The Central Bank of Sri Lanka (CBSL) announced that provisions will be introduced shortly on the legal limit of foreign currency permitted to be held by a Sri Lankan resident.
Governor of the CBSL Dr. Nandalal Weerasinghe said provisions may be introduced to reduce the legal limit of foreign currency a Sri Lankan resident can hold in their possession to USD 10,000 from USD 15,000. (NewsWire)