People's Bank launches online ETF services

People's Bank and the Employees' Trust Fund launched 'People's ETF Net' which enables organisations to pay their employees' ETF entitlements online through a e-payments system.

The system, which provides companies with tools to manage their compliance with Employees' Trust Fund obligations, is an e- commerce product which spans over People's Bank's network of 730 branches and savings centres.

Additional General Manager, Employees' Trust Fund Board, M.C.H Gunerathne and Deputy General Manager (Operations) Bonifus Silva signed the agreement.

Consultant (IT), Dr. R.B. Ekanayake, Deputy General Manager (MS), W.S. Dissanayake, Deputy General Manager (C and ER), J.M.S.B. Udugama, Manager (System Administration), Ms. M.D. Costa, Deputy General Manager (Risk Management) People's Bank, Sabry Ibrahim, Head of Marketing and Public Affairs, Deepal Abeysekara, Deputy General Manager (Operations), Bonifus Silva, Deputy General Manager (Retail Banking), Renuka Jayasinghe, Chief Law Officer, G. Ekanayake, , Acting Head of IT, Sobitha Weerasekara, Assistant General Manager (Marketing and Product Development), Chandrasiri Fernando, Assistant General Manager (Western Zonal 1), R. Ranathunga, Regional General Manager (Colombo South), N.U.L.A Ansar and Narahenpita Branch Manager, E.R.H.N. Edirisinghe were present. Chairman and CEO, Employees' Trust Fund Board, K. M. A. Godawatta said, "We initiated this program in 2008 with commercial banks to reduce the administrative cost and improve accuracy and efficiency."

Chief Executive Officer and General Manager, People's Bank, N. Vasantha Kumar said, "We are happy to achieve yet another important milestone for the bank with the launch of our online ETF facilities, which will add more conveniences to the customer base of 13 million."