Deposits by displaced in banks reach Rs. 1 bn

by Shirajiv Sirimane

Deposits made by the Internally Displaced Persons (IDPs) in the IDP centre banks have now reached the Rs. one billion mark. These deposits were made by way of currency and jewellery mainly to the two State banks and two private banks, which have been set up in six IDP camps.

The IDP's banked Rs. 390 m in two days after the banks were opened and deposits are still being made.

Former President of the Federation of Chamber of Commerce and industry, Nawaz Rajabdeen said that the IDP's banking with banks is a clear indication of the faith they have in the administration. "There were LTTE banks that were operated and the fact that Rs. one billion was not deposited with them also proves that the public did not have faith in them," he said.

"These people would also have been forced to deposit their money but have withstood the pressure and kept their money without entering the LTTE banking system," he said.

One of the leading Tamil businessman said that this Rs. one billion went through the checkpoints of the Sri Lankan Army and the fact that it was not confiscated or held up shows the honesty of the Sri Lankan forces. "The soldiers could have easily taken this money but it was not so and the Sri Lankan Forces may be considered the only force to have been so honest in the world," he said.

Bank of Ceylon, Deputy General Manager, Product Development and Branches, Sam Samarasinghe said that they have now collected Rs. 523 million. "Due to the high demand for banking facilities the bank has set up six branches in the IDP camps," he said. He also said that there was one businessman who deposited Rs. 40 million in cash, which shows the saving power of the Northerners who are now in the IDP camps.

In addition gold has been deposited into bank accounts and safety deposit boxes at the newly opened banking facilities while there are also people who pawned their jewellery. Some money has also come in from abroad to inmates at the camp, and he said that there is a demand for Automatic Teller Cards (ATM) and they have issued over 5,000 so far. "The weekly demand is over 5,000 and we are taking steps to print additional ATM cards," he said.

When contacted an official from the People's Bank said that they too have collected nearly Rs. 500 million from the IDP camps. "We have five mobile banking units with two of them having ATM facilities," he said.