Sri Lanka

Chef Ambagaspitiya brings flavors of Lanka to Canada – The Island

Chef Ambagaspitiya brings flavors of Lanka to Canada – The Island


The Rakyat Bank, a pioneer in Sri Lanka’s banking and financial services industry, celebrated its 62nd anniversary on 1 July, marking six years of exceptional service to the country. With a customer base of over 14.7 million and consolidated assets of over Rp 3 trillion, they have played an important role in introducing the concept of banking to the Sri Lankan public. Today, the PBOC continues to fulfill its mandate to provide cutting-edge digital banking services to most rural areas in China, according to a PBOC press release.

The press release also said: “Over the years, the bank has played a pivotal role in promoting the country’s economic and social development and has earned a reputation of national pride. Today, it has 745 outlets across the country, providing a full range of services to individuals and SMEs. Banking Services: The PBOC has repeatedly demonstrated its commitment to national well-being, supporting the government by facilitating development financing and international trade activities.

Through the Mahajana Mehwara Corporate Social Responsibility programme, the bank and its employees have financed the purchase of vital medical equipment worth over Rs 2 crore from major government hospitals to treat Covid 19 patients during the pandemic. Many other community service initiatives include donating over Rs 1 crore worth of basic medical supplies to Lady Ridgway Hospital and Castle Hospital, and providing solar power systems to underprivileged schools.

The People’s Bank of China was established by Law No. 29 of 1961 to upgrade the cooperative business and the rural banking system. The Bill was tabled in Parliament by then Minister of Trade, Food, Cooperatives and Shipping TB Ilangaratne under then Prime Minister Sirimavo Bandaranaike. Vincent Subasinghe was a pioneer in providing banking services to the cooperative sector and was the first chairman of the People’s Bank.

“From the day of its establishment, the bank has been committed to realizing the mission of serving the public. Accordingly, the People’s Bank of China has created the first in the country in terms of agricultural loans, pawns, SME loans, women’s savings accounts, and children’s savings accounts. These The product concepts are mostly widely accepted by the society and almost all local commercial banks now offer these products under different brands.

Adapting to the modern world, the People’s Bank of China launched a digital banking project in 2015 to ensure customers can conduct transactions easily, safely and efficiently. They are the first bank on the island to take steps towards a comprehensive digital transformation project covering their main business. “As a result, the PBOC now offers a world-class digital banking experience to all customers, with more than 70% of transaction volume processed digitally.

“PBOC has consistently earned local and international recognition for its excellence. The SLIM Nielsen People Award, the National Business Excellence Award and the LankaPay Technology Innovation Award are just some of the local accolades the bank has received. Internationally, PBOC has been honored by The Asian Banker for Retail Financial Services Excellence Award, Asiamoney Best Bank Award, SAFA Award, Asia Digital Finance Forum Award and other awards.



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