Business Studies - A/L Bs

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18/05/2026

14/05/2026

PayPal is set to launch in Sri Lanka on 15 May, in a move expected to expand formal digital payment channels, initially starting with business-to-business (B2B) payments to exporters.

According to sources, the initial rollout will focus on enabling inward payments to exporters, with several local banks already appointed as agents for the service.

While an official announcement is yet to be made, sources said the launch is currently scheduled for 15 May, with the Presidential Secretariat likely to host the event.

Banking sector officials have already participated in familiarisation sessions relating to PayPal’s entry into Sri Lanka, while PayPal representatives are understood to have visited the country last month for discussions with local stakeholders and financial institutions regarding the rollout framework.

The move follows months of engagement between the Government, the Central Bank of Sri Lanka (CBSL), and the private sector, aimed at enabling regulated inward remittance functionality through the global online payments platform.

In February, Digital Economy Ministry Secretary Waruna Sri Dhanapala said Sri Lanka had entered the final stage of enabling inward remittances through PayPal, describing it as a key milestone in modernising the country’s digital payments ecosystem.

14/05/2026

The number of tourists who have arrived in the country so far this year has exceeded the 900,000 mark.

The Sri Lanka Tourism Development Authority (SLTDA) stated that 904,855 tourists arrived in the island during the period from January 1st to May 6th.

The largest segment of these tourists are Indian nationals, totaling 200,796.

The Sri Lanka Tourism Development Authority further noted that a significant number of tourists have also arrived from countries including the United Kingdom, Russia, Germany, and China.