BOC invites Sri Lankan expatriates and international investors to join “BOC My Sri Lanka”

Bank of Ceylon, bringing forth its innate commitment towards Sri Lanka, introduces “BOC My Sri Lanka” Foreign Currency Fixed Deposit account that offers attractive incentives to the account holder while encouraging them to enhance the country’s foreign currency position. The immediate purpose of this initiative is to facilitate the collaborative effort of enhancing the country’s economic profile together with Sri Lankan expatriates and interested international investors by opening up a new channel to draw more foreign currency into the country, a BOC press release said.

The release adds: ‘The account was officially launched at the Bank of Ceylon Head office auditorium by the Bank’s General Manager Russel Fonseka and DGM International Treasury and Investments R M N Jeewantha, DGM Development Banking, Branch Credit Operations Range II Y. A. Jayathilaka with other members of the bank’s corporate and executive management who were also present on the occasion. The same will be launched at Sri Lankan embassies with the representation of BOC’s Business Promotion Officers at their Independence Day celebrations organized today.

‘In order to enhance the opportunity to attract more avenues of foreign currency inflow to the country, the Bank has also opened up this account to non-national residents or non-national non-residents of Sri Lanka, Sri Lankans with dual citizenship and companies incorporated outside Sri Lanka apart from the regular Sri Lankan expatriate community. This Foreign Currency Fixed Deposit account can be opened for either two years or five years with a minimum opening balance of USD 5000/- or equivalent in designated currencies of US-dollars-USD, Sterling Pounds- GBP, Euro-EUR or Australian dollars- AUD. The Bank offers an attractive interest rate according to the selected investment plan whether the interest is drawn either monthly or at maturity. Account holders can also capitalize the interest to the opening account. Ensuring customers are given the maximum flexibility to invest, the bank offers a top-up facility in 1000/- or in multiples of 1000/- in the designated currency. The account can also be renewed at the prevailing interest rate at the time of the maturity (conditions apply).

‘A resilient banking giant in Sri Lanka, Bank of Ceylon maintains a strong network of over 850 correspondent banks and exchange companies with its own banking subsidiary in London and branches in Chennai, Male, Hulu-Male and Seychelles. With the trust and integrity that is built over 83 years Bank of Ceylon is always committed to empower the country towards a sustainable wellbeing for its community.’