CB promotes government securities in rural areas

by Gamini WARUSHAMANA

Central Bank (CB)and First Capital Investments recently conducted awareness campaigns to promote investment in government securities in rural areas. The programs in Kurunegala and Arachchikattuwa and organised by the North Central Provincial office of the CB and First Capital.

The Manager of the CB North Central provincial office Ariyaratne Peramuna said that the objective of the program was to educate the public on secure and high-return investment opportunities.“We focused on government officers, officers of rural banks and Sanasa banks some of whom handle funds and consider them as opinion leaders who can disseminate this message to the public.”

“Continuous warnings by the CB regarding unregistered financial institutions and our recent experience show that people are uncertain as to where to invest their money. Our objective is to promote treasury bills and treasury bonds which are secure investments,” he said. Even after the unpleasant experience in 2008, people continue to invest in unauthorised financial institutions.

The CB regularly warns the public to beware of such institutions by publishing the names of registered financial institutions.

“In this program we educated the public on security and returns available by investing in Treasury Bills and Treasury Bonds, factors that should be taken into account in investments, unauthorised financial institutions and investment risk,” Peramuna said.

The programs were conducted by senior officials of the of the public debt department of the CB I.H.M.S. Herath, G.D.P.D. Jayatilake and Head of Sales and Business Development of First Capital, Chanaka Gamage.