BOC launches ‘Pancha Maha Thagi Nidhanaya’

Monday, 1 July 2013 00:00 - - {{hitsCtrl.values.hits}}

By Rashika Fazali Bank of Ceylon (BOC) launched a huge rewarding scheme, ‘Pancha Maha Thagi Nidhanaya,’ which will reward its Non-Resident Foreign Currency Accounts (NRFC), Ran-Kekulu Foreign Currency Accounts (RKFC) and Foreign Remittances customers, at the Galadari Hotel on Thursday (27). BOC is giving its account holders five opportunities to win millions in cash prizes and gifts. Under the ‘BOC NRFC Wasana’ account, account holders have a chance of winning the first prize of Rs. 1 million in cash with more prizes totalling to Rs. 2 million in cash from the first draw. The second draw will offer a first prize of Rs. 1.5 million in cash with other cash prizes totalling to Rs. 3 million.

Under the ‘BOC NRFC Wasana Special Draw,’ account holders can win a first prize of Rs. 500,000 in cash with more prizes totalling to Rs. 2 million. With the ‘RKFC account draw.’ account holders have a chance of winning 25 mountain bikes and 50 Leisure World family packages while the ‘Cash Remitts Raffle Draw’ will provide lucky winners a chance to win 10 LED TVs and 100 cash prizes of Rs. 25,000 each. The ‘Cash Remitts Air Ticket Draw’ will provide 15 return air-tickets. Speaking at the launch, BOC Chairman Razik Zarook said: “We want to encourage our foreign exchange earners to send their foreign currency through BOC. It is safe and sound and at the same time we also give a good return.” Currently, many people send money through informal channels and this is what BOC hopes to changes. He added: “This poses a great danger apart from the legality. We want to give publicity to build confidence and emphasis the safety in sending the remittances through the official banking channel partner, Bank of Ceylon which has over 1,000 touch points of service. We will give them a good return.” BOC International, Treasury and Investment Senior Deputy Manager P.A. Lionel also speaking at the launch stated that the two reasons for this rewarding scheme were to gain remittance deposits and for more customers to send money though the legal channels. He added: “30% of the remittances are sent through illegal channels.” The bank, which currently enjoys the lion’s share of foreign currency deposit base as well as inward remittances to Sri Lanka, hopes to further increase its share of this nationally significant segment with the launch of these five exciting rewards schemes. By having an NRFC account, customers can enjoy numerous benefits such as a life insurance cover of Rs. 1 million for which they need not pay any premium required, free baggage insurance cover of Rs. 50,000 when travelling abroad, pre-departure loans ranging from Rs. 50,000 to Rs. 1 million and low interest loan schemes for housing, self-employment, etc The RKFC account provides a life insurance cover, medical cover, scholarships for children, etc., for its customers.