PB to foray into Islamic Banking
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P. V. Pathirana
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The Central Bank has given the approval to the People’s Bank to
commence Islamic banking in the near future, said CEO/GM People’s Bank
P. V. Pathirana and plans are under way to start it as soon as possible.
In addition the bank will launch phone banking in the near future to
ensure convenience of transactions, said Pathirana. He also said that
everything is in place to launch phone banking and at present testing is
going on. This will help the customers to save time and energy and do
their transactions at the place and time they wish.
In addition the bank has taken several steps to support the “Api
Wawamu Rata Nagamu “ to achieve self sufficiency in food so that Sri
Lanka is more resilient to the world food crisis. This will help develop
the village as well as the agricultural sector and the economy of the
country.
He said that during the harvesting season of potatoes and onions the
bank will provide storage facilities while the customers who come to the
bank for Ganu denu during the Sinhala and Tamil New Year will also be
given a plant.
The bank has already placed orders to purchase plants and every order
will be delivered to the branches on April 10 on time for distribution.
The bank will also support the paddy farmers, during the next season, to
ensure that they get a good harvest.
In addition the bank will introduce a housing loan scheme, increase
the number of group loans, support to develop infrastructure facilities
in the North and the East, support small industries and businesses so
that people will have employment and support develop cottage industries.
He said, if a person is interested in obtaining a loan to start a
cottage industry. The managers will guide the entrepreneurs in the
field.
He said, according to the unaudited accounts the bank has earned an
income of Rs. 400 bln in 2008 while it was Rs 398 bln in 2007.
The savings portfolio of the bank is Rs. 325 bln. Fitch ratings have
given a rating of a minus, said Pathirana.
(SG)
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