BANK OF CEYLON | LMD

Publicizes ‘Pita Pita Rata Thegi’ third version with a grand worth of Rs.30Mn Luxurious Villa

Incentivising Sri Lankan expatriates to remit their hard-earned international foreign money earnings securely again to their households and family members, Sri Lanka’s No.1 Financial institution, Financial institution of Ceylon (BOC) is asserting third season of its distinctive ‘Pita Pita Rata Thegi’ promotion in providing the expatriates to win back-to-back priceless items in each day, weekly and month-to-month attracts together with a grand worth a Luxurious Villa value Rs.30 million.

The third version of BOC’s ‘Pita Pita Rata Thegi’ promotion presents Sri Lankan expatriates with a number of alternatives to win priceless items in contrast to some other within the business. Each day, 365 fortunate winners will likely be awarded with Rs. 10,000 value Items vouchers from main supermarkets whereas 48 fortunate remitters stand to win Rs. 100,000 value of Present vouchers for house home equipment every week. In month-to-month draw, 75 fortunate individuals stand an opportunity to win gold cash and at last, Rs.30 million value Luxurious Villa is on the playing cards in Grand Draw.

Through the years, BOC has in a position to achieve vast recognition amongst 1000’s of Sri Lankan expatriates for its highest market alternate charges, unparalleled advantages and for its innovative digital merchandise in far exceeding the advantages and companies supplied. In supporting Sri Lankan expatriates to realize their life-goals with their hard-earned international foreign money earnings, the Financial institution can also be engaged in initiatives to reinforce monetary literacy of Sri Lankan expats whereas encouraging them to avoid wasting and handle their earnings effectively.

The BOC’s Sensible Remit facility stays as the most well-liked digital cash switch service amongst Sri Lankan expats since its inception in 2013. Through the years, this facility has enabled Sri Lankans dwelling overseas to cut back the transactional prices with its vary of amenities and advantages as BOC continues to replace and improve with newest technological developments. In 2021, BOC upgraded its Sensible Remit facility enabling Sri Lankan expats to conduct actual time remittance transfers extra securely.

As well as, BOC has additionally enabled web banking with its BOC B-App whereas providing a VISA worldwide debit card freed from cost to its prospects in permitting BOC’s abroad account holders to test their account balances on-line, conduct fund transfers, make utility invoice funds and to meet a variety of banking wants on-line from anyplace on this planet.

Because of these pioneering initiatives backed by its service excellence, BOC was in a position to enhance its remittance inflows by 29 % in 2021 over the earlier yr whereas concurrently rising its market management in remittance inflows to 41 %. This enabled the Financial institution to assist the nation with uninterrupted import of important items together with petroleum, gasoline, vaccinations for COVID-19 and meals objects throughout 2019 and 2021.

The financial institution supplies in depth monetary assist bundle to Sri Lankan expats in several levels of their international employment resembling pre-departure financing. BOC’s pre-departure mortgage schemes are supposed to cowl fundamental prices concerned within the migrating technique of migrant employment seekers. It has eased the monetary burden on them whereas permitting them to pursue their dream employment alternative.

As a way to in-calculate the behavior of saving amongst Sri Lankan expats, BOC pioneered in introducing Non-Resident Overseas Forex Accounts (NRFC) account which gained vast recognition amongst Sri Lankan migrant staff because it supplied the safety and one of the best market rates of interest together with an array of different advantages.

Following the choice of the Central Financial institution of Sri Lanka (CBSL) to transform NRFC, RFC, and NRNNFC as Private Overseas Forex (PFC) Account permitting Banks to supply enhanced advantages to account holders, BOC moved swiftly to supply wide-range of further advantages beneath PFC to its loyal prospects. With the brand new initiative Sri Lankan migrant staff and their shut relations are eligible to open a PFC Account with BOC that may be maintained as a present, saving or fixed-deposit account. As one other novel initiative to maximise advantages to its PFC account holders, BOC has additionally moved to increase the quilt of three insurance coverage schemes for them.

As well as, BOC was additionally fast to introduce the high-interest bearing SDAs to its prospects when the CBSL introduced the SDAs guaranteeing highest rates of interest and a hassle-free expertise when opening a SDA with BOC, with the minimal documentation requirement for each Resident and non-Resident Sri Lankans.

Taking step additional to assist Sri Lankan migrant staff abroad, BOC has deployed 24 Enterprise Promotion Officers (BPOs) in a number of international locations that are standard Sri Lankan international employment locations, together with key Center Jap international locations and South Korea.

Through the years, BOC has constructed a powerful community of over 1000 companions consisting of international banks, alternate homes and cash alternate service suppliers, changing into the highest Sri Lankan banking entity with the most important associate community for cash transactions. Because of this wide-spread community, BOC PFC account holders are in a position to ship and deposit their international foreign money to BOC from anyplace on this planet.