Both the Undial and Hawala systems are legal in Sri Lanka, according to Dr. Harsha de Silva, the chairman of the Committee on Public Finance.

While presenting several of proposals in Parliament today, he made statement. Speaking further, he stated, “The Hawala and Undial systems are not illegal in our country, but they are not regulated to any regulations. As therefore, it has been proposed anyone using these systems to perform international transactions register within the 12-month period from June 2024 to May 2025. Dr. Harsha stated that the proposal had been approved and submitted to Parliament, and that the committee had requested the Central Bank to carry out a comprehensive review and produce a report on the matter.