NDB supports coin collection initiative of Central Bank
The Central Bank of Sri Lanka (CBSL) launched a program recently to
collect idle coins from schoolchildren, religious places and the public,
to put them back into circulation.
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Central Bank Governor Ajith Nivard Cabraal accepts a coin box
from a student |
The islandwide program was launched at the NDB branch in Ja-ela, by
Central Bank Governor Ajith Nivard Cabraal.
The coin collection program, backed by a media campaign will be
extended to 225 institutions in seven districts within the next 25 days.
The CBSL mints over 100 million coins annually at an approximate cost
of between Rs. 800 million to Rs. 1 billion, involving a substantial
amount of foreign exchange. Having observed that a fair amount of such
currency coins are lying idle at various places such as households, in
charity boxes at religious places and savings tills, the CBSL initiated
this program to bring these idle coins back into circulation.
NDB branches in Ja-ela and Wattala served as collection points for
the area; where CBSL officers operated a coin collection desk last
Tuesday and Wednesday.
Chief Operating Officer of NDB, Indrajit Wickramasinghe said,
"Considering the significance of this effort to the national economy, we
are glad to support the Central Bank in this endeavour. Streamlining the
circulation of coins will result in substantial savings for the country
by reducing the amount of coins minted."
"As a bank dedicated to national development we believe it is our
duty and obligation to support this initiative," he said. |
