Governor in Jaffna :

CB approves 134 banking centres in NE

Sanjeevi Jayasuriya

The banking sector needs to play a major role in the economic activities in the Northern and the Eastern provinces. We need to ensure that the financial infusion takes place in these provinces. As the Central Bank (CB) we monitor and follow up the banking activities closely for the smooth functioning of the banking system, said Governor Central Bank Ajith Nivard Cabraal.

We need to provide assistance for the Northern and the Eastern provinces to revive economic activities and for the development. The banking sector is an essential component in the economic development in the area, he said.

The Governor will visit Jaffna today to open branches of NDB and Bank of Ceylon.

There are 53 bank branches in the North and 89 bank branches in the East at present. With 19 extension offices and 187 student and postal units, a total of 259 banking centres are in operation in the North. In the East, there are 44 extension offices and 253 student and postal units - a total of 386 banking centres, said Assistant Governor Ananda Silva.

The Central Bank has given approval for 26 branches and nine extension offices in the Eastern province whereas for the Northern province approval was given for 41 branches and 43 extension offices since April. There are also 15 mobile units in IDP camps, he said.

The banking industry in these provinces would face the problem of the lack of skilled manpower. Though, there will be employment opportunities in the areas, finding suitable employees will be a difficult task, he said.

It will be important to have a mechanism to provide job oriented training and Governmental support is necessary in this regard.

Many people have left the area due to war and it is important to set up a training facility, he said.

There are opportunities for the banking sector in the areas of agriculture, fisheries, livestock, tourism and services such as boat bunkering, he said.