Tuesday, 18 October 2011

BOC accounts for over 47% inward remittances

“Sri Lanka received inward remittances worth $ 4 billion last year and the country has the potential to double the value over the next few years. We now see a trend where the banking system is being used widely to remit money unlike in the past which is a positive sign towards enhancing the remittance volume,” Bank of Ceylon (BOC) Chairman Dr.Gamini Wickramasignhe said.

Dr. Gamini Wickramasignhe
The country will reach $ 4.8 billion foreign remittances by the end of this year. Bank of Ceylon has been able to account for over 47 percent of the entire inward remittances to the country, he said.

“Our target is a ten percent remittance growth from the current Rs 200 billion. If the country could harness its true potential the volume could even be higher,” he said at the launch of NRFC Wasana and Cash Remitts raffle draw 2011 and 2012 and the re-launching of the RKFC Account held on Friday in Colombo.

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