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SLBFE to set up bank

by Ananda Kannangara

A fully fledged commercial bank will be set up in the city of Colombo by the Sri Lanka Bureau of Foreign Employment (SLBFE) for the benefit of 1.2 million Sri Lankan workers employed abroad. The construction work of the bank will be carried out under the purview of Employment and Labour Minister Mahinda Samarasinghe by early next year.

"The main purpose of setting up the new Bank which has been a long felt need is to help our workers remit of their monthly earnings to an institution, managed by the Bureau since it handles all official matters pertaining to migrant workers." SLBFE, Chairman Susantha Fernnado said.

He said once the new bank is set up, action will be taken to grant workers and their dependents more benefits including housing loans, insurance and health schemes, educational loans for the benefit of the children of workers and various other loans currently not paid by the Bank of Ceylon and People's Bank.

He also thanked the two State Banks for the excellent service being provided towards the welfare of our workers and said that the Bureau is expected to encourage the workers to remit their earnings to any of these banks since each bank provides different benefits to their customers.

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