Foreign employment increases by 7.6 per cent
Foreign employment industry in Sri Lanka ranks as the second largest
earner of foreign exchange in Sri Lankan Economy. According to
statistics pertaining to year 2006 the number of Sri Lankan expatriates
amounted to 2 million and the private remittances amounted to Rs.
240,000 million. The total number of departure for foreign employment
increases by 7.6% annually, said General Manager and CEO of National
Savings Bank S.H. Piyasiri.
It is a fact very well known that private remittances do not always
find their way to sri Lanka through legal means and that such
hard-earned money is not well-managed once they are in the hands of the
families of the expatriates.
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new account: NSB General Manager/CEO S.H. Piyasiri hands over
the first NRFC certificate to a customer at the NRFC promotional
campaign launched in front of the Fort Railway Station with the
assistance of NSB City Branch Manager U.L. Raffik. |
This is where National Savings Bank's Non Resident Foreign Currency (NRFC)
Accounts and Resident Foreign Currency (RFC) Accounts step as a
facilitator to both the expatriates and their families back home to
remit money and manage them well.
Therefore, National Savings Bank has decided to conduct an awareness
programme and NSB NRFC and RFC accounts and hence was the idea of
declaring the three month's period from Aug. 01 to Oct. 31 as 'NSB NRFC/RFC
"Ranmasu Themasa'. This is an islandwide awareness/promotional campaign
which was launched by the Head Office recently.
The campaign covered the area from Colombo to Panadura during the
first week of promotion and during the second week from August 13th-17th
it covers the Fort Railway Station, Maligawatta, Kotahena, Peliyagoda,
Mahabage, Wattala, Kandana and Ja-ela.
The objective of the campaign is to make the public aware of the
strengths and virtues of the accounts, to canvass for accounts and
mobilize deposits of US$ and Sterling Pounds at special interests up to
6%, to capture a considerable portion of the remittance market and to
promote a loan scheme for Sri Lankan expatriate workers on concessionary
terms.
During this promotional period, customers who open NRFC/RFC acco-
unts with US$ 500 or more or deposit USD 500 or more in an existing
account will get a pre-paid telephone card with IDD facility worth Rs.
1000/-.
In addition to these benefits, the bank has introduced a loan scheme
for account holders under which they will be entitled to obtain loans at
lower interest rates and many more concessions.
Funds deposited at NSB is fully guaranteed by the Govt. of Sri Lanka.
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