Sri Lanka to introduce freelancer registration system for banking and financial benefits

Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, announced today (March 11) in Parliament of Sri Lanka that the government is working on a registration system to officially recognize freelancers in Sri Lanka.

This initiative aims to integrate them into the banking system, allowing them to access financial benefits, including personal loans.

“Sri Lanka has many freelancers, but they have no career recognition in this country. To address this, we are developing a registration system that connects freelancers with the banking sector. By doing so, as they continue working and generating foreign income in dollars, they will be eligible for financial benefits, particularly personal loans,” the Deputy Minister stated.

He further mentioned that discussions are ongoing with banks to facilitate this process and ensure freelancers receive the recognition they deserve.

Boosting Freelancing Through Digital Infrastructure

In addition to financial support, the government aims to strengthen the freelancing sector by improving internet infrastructure and digital services.

Addressing concerns regarding the digital services tax, Abeysinghe clarified that sufficient explanations have been provided, and industry experts understand that it will bring advantages rather than disadvantages.

Fast-Tracking Digitalization with International Collaboration

Highlighting the rapid progress of digitalization in countries like India and Singapore, the Deputy Minister emphasized that Sri Lanka must adopt global best practices rather than reinvent technology.

“Our Digital Minister, Deputy Minister, and their team, along with the technical team led by Dr. Hans Wijayasuriya, are working to collaborate with nations that have made significant progress in digital transformation. We need to adopt suitable global practices and move forward swiftly,” he said.

The government’s strategy focuses on integrating digitalization into both the public and private sectors to drive economic growth and technological advancement in Sri Lanka.

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