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DFCC Bank offers Special Deposit Accounts to aid Sri Lanka in a time of need

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The government in consultation with the Monetary Board of the Central Bank of Sri Lanka (CBSL) introduced the Special Deposit Accounts on the April 8, with the objective of increasing foreign currency inflows to the country and to aid in overcoming the effects of the COVID-19 pandemic. DFCC Bank was one of the first banks in the country to launch the DFCC Special Deposit Account in compliance with CBSL guidelines with the objective of making a significant contribution towards the national cause of aiding Sri Lanka in this hour of need.

With the country’s economy still struggling to recover from this global crisis, DFCC launched the product and gained traction on various platforms including online, digital, and social media in order to encourage Sri Lankans residing in international territories to invest their funds back into the country.

Customers were able to place their funds in a fixed deposit for 6-month and 12-month periods in multiple designated currencies covering LKR, USD, EUR, GBP, AUD, JPY, SGD, CAD and CHF. Promising unparalleled service to customers and the best interest rates possible, those who placed a fixed deposit for 6 months were entitled to received 1% above the normal interest rate and customers who placed fixed deposits for 12 months were entitled to receive 2% above the normal interest rate. The funds are also freely convertible and repatriable upon maturity with customers having the option of transferring the money back overseas through an outward remittance or withdrawing the funds in Sri Lanka at maturity.

Any Sri Lankan individual resident in or outside Sri Lanka including dual citizens, citizens of other states with Sri Lankan origin, and any person resident outside Sri Lanka including funds, corporate bodies, association and other well-wishers are permitted to open and maintain the Special Deposit Account. These accounts can be opened during a 6-month period from the 08th of April 2020 to the 08th of October 2020 with funds received from abroad to Sri Lanka via inward remittances through the banking system during the mentioned 6-month period. Foreign currency legitimately acquired and brought by the account holder to Sri Lanka with proper declaration after 01st January 2020 can also be placed in Special Deposit Accounts up to a predetermined limit. Ensuring that customers enjoy higher returns for their investments and simultaneously contribute towards aiding the Sri Lankan economy, the DFCC Special Deposit Account proves to be a valuable investment for both local and international customers.

DFCC Bank Vice President Liabilities & Trade Business Development, Mr. Anton Arumugam Stated, “The response has been very encouraging with many customers from different countries across the world opening SDA accounts with DFCC and investing their funds. As the first mover, we gained the advantage of generating more deposits from various countries due to the unparalleled customer service offered by DFCC Staff members. They have been working 24×7 to respond to customers who are living overseas by using digital communication modes and assisting them to open the accounts and remit the funds while complying with the relevant requirements.”

This is an excellent opportunity for customers to enjoy higher returns for their investment by opening DFCC Special Deposit Account and also contribute towards the national cause.

 



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New Seafarer Welfare Centre launched in Colombo to support maritime workforce

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NUSS President Boa Athu

A new welfare centre named “The Palace,” established by the International Transport Employees’ Federation (ITF) in collaboration with Sri Lanka’s National Union of Seafarers (NUSS), was recently inaugurated in Colombo. The facility aims to address the physical, mental, and legal needs of seafarers, with a focus on both local and international maritime workers transiting through Colombo’s port and airport.

NUSS President Boa Athu stated that the centre anticipates serving 800–1,000 seafarers in its first year, with plans to expand services as demand grows. While priority access is given to NUSS members and ITF-affiliated seafarers, the facility will also welcome foreign crew. Athu emphasized that non-members are encouraged to join NUSS for full benefits, calling it a “win-win” for affordability and accessibility.

The centre is funded entirely by NUSS and the ITF Seafarers Trust, with no direct government or private-sector partnerships. Athu expressed confidence in long-term sustainability, citing plans to enhance service quality and membership growth as key strategies to navigate economic challenges.

“The Palace” will provide family-friendly accommodations, mental health workshops, a gym, recreational spaces, and medical services. A dedicated ITF inspectorate, led by veteran official Ranjan Perera, will handle crisis support such as abandonment cases, wage theft recovery, and emergency repatriation. Perera’s team has already repatriated a seriously injured seafarer and reclaimed over $3 million in stolen wages.

Colombo was selected due to its status as a major transit hub for seafarers in South Asia. While the centre addresses gaps in regional welfare infrastructure, Athu revealed plans to launch similar facilities outside Colombo in the future.

English will serve as the primary language, though staff training and peer support among seafarers aim to bridge cultural and linguistic gaps. The centre also offers a mental health hotline (1331) and a mobile app, which will be upgraded to integrate “The Palace’s” services.

Key performance indicators include annual occupancy rates, the number of members served, and reductions in issues like abandonment. ITF and NUSS will jointly monitor outcomes to ensure effectiveness.

The centre pledges support for seafarers caught in conflicts or disasters, such as those navigating the Red Sea crisis. “Our doors will always be open in emergencies,” Athu affirmed.

The initiative aligns with ITF and NUSS goals to elevate seafarer welfare standards globally and support Sri Lanka’s ambition to add 50,000 new seafarers to its workforce. “We’re all singing from the same songbook,” said Athu, calling the project a “challenging but exciting” step forward for the industry.

The launch underscores Colombo’s growing role in maritime welfare, combining local expertise with international partnerships to safeguard seafarers in an increasingly complex global trade landscape.

By Sanath Nanayakkare

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Dialog Enterprise and Huawei drive digital innovation with Wi-Fi 7

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Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata, continues to lead the way in delivering enterprise-grade wireless connectivity, empowering businesses with high-performance networking solutions. As a pioneer in Business Connectivity, Dialog Enterprise has deployed advanced wireless connectivity solutions across corporate offices, industrial factory floors, and leading hospitality venues, ensuring seamless connectivity tailored to the unique demands of each sector.

Taking a significant step forward, Dialog Enterprise, in collaboration with the global technology innovator Huawei, has now deployed Sri Lanka’s first Wi-Fi 7 network at two key partner locations: the Sri Lanka Institute of Information Technology (SLIIT) and The Kingsbury Hotel. These deployments mark the beginning of a nationwide transformation, bringing next-generation wireless capabilities to organisations that demand high-speed, ultra-reliable, and secure connectivity.

Wi-Fi 7 is designed to cater to environments with high traffic, a vast number of connected devices, and extreme throughput requirements. Using the latest 6 GHz spectrum, 4K-QAM modulation, and Multi-Link Operation (MLO), Wi-Fi 7 delivers speeds up to four times faster than its predecessor, with significantly lower latency. This makes it ideal for industries requiring real-time collaboration, high-definition video streaming, large-scale cloud applications, and AI-driven operations.

At SLIIT, the Wi-Fi 7 deployment enhances virtual learning, collaborative research, and an enriched student experience, supporting the institution’s digital-first approach to education. At The Kingsbury Hotel, ultra-fast, high-capacity Wi-Fi ensures guests enjoy buffer-free streaming, seamless remote work, and smart room integrations for an enhanced hospitality experience. Beyond education and hospitality, Wi-Fi 7 has the potential to impact industries such as healthcare, manufacturing, and security. It could enable real-time telemedicine, rapid transfer of large medical files, and IoT-enabled smart medical devices in healthcare. In manufacturing, the ultra-fast network may support smart factory automation, seamless device communication, and predictive maintenance analytics. For security and defence, Wi-Fi 7’s low latency and advanced encryption capabilities could enhance real-time surveillance and rapid data processing for critical infrastructure.

“Wi-Fi 7 represents a major leap in connectivity, enabling industries to meet growing digital demands with greater speed, capacity, and security. Our partnership with Dialog Enterprise ensures businesses benefit from cutting-edge wireless solutions that drive innovation and efficiency,” said Hao Zhiqiang, Vice President, Sri Lanka Enterprise Business of Huawei.

“Wi-Fi 7 represents a transformative leap in connectivity, enabling organisations to meet the ever-growing demands of digital transformation. Whether in education, hospitality, or enterprise, our goal is to provide cutting-edge wireless solutions that deliver exceptional performance, reliability, and security,” said Navin Pieris, Group Chief Officer of Dialog Enterprise. “Our collaboration with leading global partners ensures we bring best-in-class innovations to our customers, helping them stay ahead in a hyper-connected world.”

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Aitken Spence Travels secures prestigious CPM Best Management Practices Award for second consecutive year

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Aitken Spence Travels receiving their awards

Aitken Spence Travels, Sri Lanka’s premier destination management company, has once again demonstrated its industry leadership by winning the prestigious CPM Best Management Practices Company Awards (BMPC) 2025 under the Hospitality and Tourism Services category. This marks the second consecutive year that Aitken Spence Travels has been honoured in this category, reaffirming its status as an unparalleled leader in the travel and tourism sector.

This successive win signifies Aitken Spence Travels’ unwavering commitment to raising the bar within the travel and tourism sector. By continuously implementing and recognising best management practices, the company embraces the importance of management practices that are practical and always offers a solution for the overall efficiency of the company and the industry as a whole, solidifying Aitken Spence Travels’ position as a leader in travel and tourism.

The “Best Management Practices Company Awards 2025,” is organised by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), as a commitment to championing the best management practices of the public and private sector organisations. The awards held in its third consecutive year due to its overwhelming success of the editions acknowledge outstanding leadership, commendable policies and strategies, effective people management, successful partnerships, resource utilisation, streamlined process and outstanding performance. The awards not only applaud excellence but also served as a valuable framework for management teams to reassess and challenge themselves within the context of their respective organisations. The applicants are subject to a rigorous evaluation process that include a comprehensive report submission followed by a presentation before an esteemed panel of judges. The awards endorse the best management practices of companies during the year.

Commenting on this remarkable achievement, Stasshani Jayawardena, Chairperson of Aitken Spence PLC and Head of the Tourism sector of Aitken Spence PLC inclusive of hotels, destination management and overseas travel, stated, “As the market leader, this recognition to Aitken Spence Travels further establishes that best management practices can be implemented and shared for the greater good of the industry and signifies the competence of our team to better serve our customers”.

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