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| Sunday, 31 October 2004 |
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Business |  |
| News Business Features Editorial
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'People's e-Remit' by People's Bank People's Bank, will launch 'People's e-Remit' a real time e-remittance service offering non-resident Sri Lankans living in the US, a fast, secure, convenient and cost effective method of transferring funds to their beneficiaries in Sri Lanka. The People's Bank online remittance service 'People's e-remit' will be provided in collaboration with TOML India and Deutsche Bank. An agreement for the proposed service was signed between the two banks early this week, with the Acting. CEO/General Manager T. Karunasena and the Asst. General Manager of the People's Bank OCS unit, Vasantha de Silva signing on behalf of the People's Bank and Ravi Perera - Country Head of the Global Banking Department of Deutsche Bank signing on behalf of the Deutsche Bank. A Sri Lankan who require this service will have to register online providing details of his bank account in the US and the relevant information regarding the beneficiary. "Currently there are over 150,000 Sri Lankan expatriates living in the US and they have to pay extremely high bank charges which are between US$ 35-US$ 50 to send money to their families in Sri Lanka. Through 'People's e-remit' they can now remit these monies at their convenience, paying a mere US$10 per transaction said T. Karunasena Acting CEO/General Manager of People's Bank. "At a time when the government is taking every effort to ensure that foreign exchange is brought in through legal channels, we are confident that 'People's e-remit' will support this initiative and encourage Sri Lankans to remit funds through the proper channels which will be beneficial to both the individual and the country as well" he said. |
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