Amana Bank recently introduced an inward remittance based Special Deposit Account in line with the direction of the Government and the guidelines of Central Bank of Sri Lanka to manage the financial and economic challenges of the COVID-19 outbreak.
The Special Deposit Account is introduced to all Sri Lankans living in or outside the country, dual citizens, citizens of any other state with Sri Lankan origin, non-national residents in or outside Sri Lanka, corporate bodies, funds, associations incorporated/ registered outside of Sri Lanka and well-wishers to remit their foreign currency earnings, savings and investments thereby investing towards the prosperity and development of the country. The Special Deposit Account can be opened in either Sri Lanka Rupees or any designated major currency.
The Special Deposit Account which is available in 6 months and 12 months tenures offers a higher profit sharing ratio in line with the government’s direction. In May 2020, the Bank paid a profit of 9.15% p.a. and 6.97% p.a. (AER 7.09%) for LKR 1 year and 6 months maturity accounts respectively while paying out a profit of 5.75% p.a. and 4.10% p.a. (AER 4.14%) for USD 1 year and 6 months maturity accounts. At maturity, customers have the option of repatriating the funds to the country of fund origination.
Customers opening the Special Deposit Account at Amãna Bank will also benefit from the services of a dedicated relationship manager, especially for those customers living abroad. Amãna Bank offers a dedicated service platform for expat customers under the proposition ‘Expat Gold’, which provides a host of special privileges and benefits, making banking from abroad easy.
Commenting on the introduction of the Special Deposit Account, the Bank’s VP Retail Banking and Marketing Siddeeque Akbar said “In addition to providing a host of banking conveniences and reliefs to customers at this hour of need, we are happy to be a part of this national effort with the introduction of a Special Deposit Account.”
Customers willing to obtain this service may contact their relationship manager or call the Bank on +94 11 7 756 756
Amana Bank is the country’s first and only Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based people friendly banking model. With the mission of Enabling Growth and Enriching Lives, the Bank reaches out to its customers through a growing network of branches and Self Banking Centres spread across the country while having access to 4500+ ATMS for withdrawals and 700+ Pay&Go Kiosks for investments. Customer can also benefit from an array of customer conveniences such as Internet & Mobile Banking, Saturday Banking, Extended Banking Hours, 24×7 Cash Investment Machines and Banking Units Exclusively for Ladies.
Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Amãna Bank is a standalone entity which does not have any subsidiaries, associates or affiliated institutions, other than the ‘OrphanCare’ Trust.