News
BOC enhances benefits for expatriate Lankans to support country’s foreign remittances inflows
by R.M.N. Jeewantha
DGM International, Treasury and Investment – Bank of Ceylon
Enhancing convenience for Sri Lankan expatriates with the assurance of highest possible benefit for the hard earned money from overseas assignments they are engaged with, the Bank of Ceylon offers an array of services and products seamlessly through its multi-faceted service channels.
Apart from its specially formulated accounts that offers best possible benefits to the account holder, the Bank has established a service channel that adds value o throughout the transaction process. Enabling expatriates to access the remitting facility seamlessly the bank has placed its representative network across the globe ensuring a secured, reliable, convenient and fast fund remittances service. BOC has deployed 26 Business Promotion Officers (BPO) in seven key foreign employment destinations for Sri Lankans, while providing the services in three countries, offsite.
With the help of the bank’s representative network customers can avail themselves to remit their funds through BOC Smart Remit facility which has been recognized as one of the fastest and most secured remittance transfer services and with the recent system upgrades, it provides real- time fund transfers for BOC customers across the world.
To assure customers that they receive the best attention they require at all times with regard to all their inquiries BOC has formed the “BOC Foreign Circle”, the international support service unit dedicated to response queries related to foreign remittances transactions and other services available for them. which includes instant account opening, obtaining ATM and other cards, loans and online banking services. BOC encourages the Sri Lankan expatriate community to avail themselves of these products and services by simply contacting the BOC Foreign Circle through WhatsApp, Viber or IMO through the following numbers for more information and assistance: 0707 203 203, 0707 204 204, 0707 205 205.
The BOC Personal Foreign Currency Account (PFCA) which is embedded with unique features remains a key product in the portfolio of BOC’s foreign exchange products. Any expatriate Sri Lankan and their family members living in Sri Lanka is eligible to open a PFCA with BOC. BOC Special Deposit Account (SDA) which offers attractive interest rates is another popular product among the expatriate community. While offering the best market interest rates, BOC foreign currency accounts come with a 100% guarantee on the deposit holders’ funds.
Encouraging inward remittance to come through proper channels that would enable the country to benefit largely, the bank introduced “BOC’s Pita Pita Rata Thegi” promotion which has become a successful initiative that rewards and incentivize expatriate Sri Lankans for their patriotism. The expatriates stand the opportunity to win back-to-back valuable gifts in daily, weekly and monthly draws including a grand price, a luxury villa worth Rs. 30 million in the latest Pita Pita Rata Thegi promotion.
Promoting the awareness of risks associated with such unofficial cross-border fund transfer channels and to convince to use secure banking channels, BOC initiated number of awareness programs and campaigns including hosting an exclusive TV programme ‘Ethera Methara’ on Rupvahaini and a radio programme titled ‘Ran Kahvanu’ on SLBC and has built a closer relationship with many respective customers.
Aligned with the Government’s recently announced special incentive scheme for the migrant workers a concession to import electric vehicles based on their level of foreign currency remittances through official banking channels, BOC is already underway to implement this scheme by initiating discussions with the Ministry of Labour and Foreign Employment to partner with the Government.
BOC also plays a major role in pre-departure loan facilities for foreign employment seekers who have registered with Sri Lanka Bureau of Foreign Employment (SLBFE). Recently the bank decided to extend pre-departure loan facilities for foreign employment candidates irrelevant of their destination. Further, to granting financial relief to foreign employment seekers amidst rising travel expenses, the Bank has decided to further reduce interest rates on pre-departure loans.
Bank of Ceylon overseas presence consists of foreign branches in Chennai, Male, Hulhu-Male, Seychelles and a banking subsidiary in London along with a strong affiliation with the international banking network developed over the years.
Over the past 83 years, Bank of Ceylon continues to cement its position as the No.01 Bank in the country while serving the national interest, as reflected by numerous global and local accolades. Bank of Ceylon was yet again recognized among the world’s top 1,000 banks by ‘’The Banker Magazine UK”. BOC operates 648 branches connected online and maintains 1,415 ATMs, CDMs, and CRMs altogether with more than 2,000 touch points spreaded across the nation.
News
New Chairperson and Members appointed to the Finance Commission
President Anura Kumara Dissanayake has appointed Ms N. R. Anees as the new Chairperson and a member of the Finance Commission.
J. M. C. J. Wijetunga and K. Karunaharan have been appointed as the other members of the Commission.
The letters of appointment were presented to the appointees by the Secretary to the President, Dr Nandika Sanath Kumanayake, at the Presidential Secretariat ton Monday (20) afternoon
The appointments were made to fill the vacancies createdy following the expiry of the terms of office of the previous members of the Finance Commission.
(PMD)
News
True leadership is not about titles or power, but about acting responsibly for the well-being of others – Prime Minister
Prime Minister Dr. Harini Amarasuriya stated that true leadership is not about titles or power, but about acting responsibly, with compassion, and working for the well being of the others.
The Prime Minister made these remarks while attending the President’s Guide Award and Prime Minister’s Award Ceremony, organized by the Sri Lanka Girl Guides Association, one of the country’s leading voluntary organizations dedicated to empowering girls and young women. The ceremony was held on Sunday (19th July )at Temple Trees in Colombo.
During the event, the Prime Minister presented medals and certificates to the award recipients.
A total of 350 awards were presented at this year’s ceremony, comprising 338 President’s Guide Awards and 12 Prime Minister’s Awards, in recognition of the recipients’ discipline, resilience, integrity, and commitment to serving others.
Addressing the occasion, Prime Minister Dr. Harini Amarasuriya stated that one of the greatest strengths of the Girl Guides association is its commitment to providing equal opportunities to every child, regardless of their background or abilities. The Prime Minister also emphasized that true leadership is not defined by titles or power, but by acting responsibly, listening with compassion, and working for the well-being of others.
The Prime Minister further noted that while women had limited opportunities in the past, today increasing opportunities are being created for girls and women across all sectors, and young women are making remarkable progress in every field. The Prime Minister further stressed that every girl and young woman deserves equal opportunities to improve themselves, noting that the country needs young women leaders who are ready to step forward to build a better future for Sri Lanka.
The Prime Minister also highlighted that, particularly at a time when Sri Lanka is undertaking significant economic and democratic reforms, achieving sustainable national progress requires not only economic growth but also the development of citizens who uphold strong ethical values and social responsibility. In this regard, she commended the invaluable contribution made by the Sri Lanka Girl Guides Association.
Guided by its motto, “Be Prepared,” the Girl Guiding Movement in Sri Lanka was first established on 21 March 1917 at Kandy High School by Miss Jenny Calverley Green. Today, the movement operates through seven branches; Butterflies, the Little Friends, the Guides, the Rangers, the Youth, the Differently Abled Guides, and the Community Guiding Units, catering to different age groups and abilities. The President’s Guide Award is the highest honour that can be achieved by a Girl Guide and is awarded only to those who successfully complete the required challenges, written and oral examinations, and the BP Challenge. The Prime Minister’s Award is presented as the highest recognition within the Ranger Guide section.
The event was attended by at the President of the Sri Lanka Girl Guides Association Swarnika Pitigala, Chief Commissioner Dr. Kushantha Herath, President’s Guide Commissioner Pushpa Perera, Prime Minister’s Guide Commissioner Aruni Karunaratne, other senior officials of the Sri Lanka Girl Guides Association, President’s Guides and Prime Minister’s Guides, as well as a large number of their parents.



(Prime Minister’s Media Division)
News
Customs asked to resume probe or face legal action
Rs. 16 bn BMW revenue fraud:
Public interest litigation activist Nagananda Kodituwakku has said he will initiate appropriate proceedings against Director General of Customs, Wimal S.K. Liyanagama, in terms of the Anti-Corruption Act No 9 of 2023, unless the Customs carries out a revenue fraud inquiry to recover approximately Rs 16 bn in lost government revenue.
General Secretary of Vinivida Foundation, and former Customs officer, Kodituwakku said that though the Department, in response to his request for a meeting to discuss the issue, in writing, assured them that the investigation was underway, they found that the actual situation was not so.
Kodituwakku alleged that the Customs Chief had neglected what he called statutory duties under the Customs Ordinance, by disregarding his request for a meeting.
Kodituwakku said the investigation into the importation of 1,728 brand new BMW vehicles, under the concessionary duty permits issued by the government for the public servants, between 2011 and 2014, had been stalled.
The civil society activist said that investigations had revealed the vehicles hadn’t been imported by the permit holders themselves but others. It also transpired that the value of the imported vehicles, mentioned in the commercial invoices, proforma invoices and the CusDecs, tendered to Customs in the names of the permit holders, were not the actual values for the vehicles in question.
The high-profile case has been handled by the Central Investigation Directorate, at that time headed by Murugesu Thayabaran, a batchmate of Kodituwakku.
The ex-Customs officer said that he had appeared as counsel for Thayabaran in Court of Appeal and was determined to bring the case to a successful conclusion. According to him, the importer, over the years, had been represented by nine President’s Counsel as the case dragged on from the time of P.S.M. Charles, Director General, Customs.
Kodituwakku made available letters he wrote to the Customs and other parties on this issue, to The Island. Pointing out that the Court of Appeal on 7 May, 2024, dismissed the importer’s final appeal regarding the case pertaining to the revenue loss of Rs. 16 bn, Kodituwakku said that although the court had cleared the way for the Customs probe, no action had been taken.
However, the Court of Appeal ruling was given before Liyanagama succeeded Seevali Arukgoda as DG Customs on 6 May, 2026. Liyanagama served as Director General of the Department of Management Services at the Treasury before the new appointment.
Kodituwakku said that he had also brought the Customs case to the attention of the Commission to Investigate Bribery or Corruption (CIABOC).
Emphasising the failure on the part of the Opposition to raise this issue, both in and outside Parliament, Kodituwakku said that since the exposure of the BMW scam, during Mahinda Rajapaksa’s presidency, there had been four presidents, namely Maithripala Sirisena, Gotabaya Rajapaksa, Ranil Wickremesinghe and incumbent Anura Kumara Dissanayake. Unfortunately, successive administrations had allowed the interested parties to drag the case. The lack of interest shown by political parties revealed that they not only protected those responsible but encouraged corrupt practices of allowing third parties to import vehicles in terms of permits issued to legitimate recipients of such permits.
Having campaigned on an anti-corruption platform, during the presidential and parliamentary polls in 2024, the NPP couldn’t, under any circumstances, turn a blind eye to this situation, Kodituwakku said, adding that even the IMF should be concerned of the failure on the part of successive governments to recover the money.
By Shamindra Ferdinando
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