Monday, October 2, 2023

DFCC Bank Empowers Migrant Workers with Launch of Financial Literacy Guide

DFCC Bank, the Bank for Everyone, committed to social responsibility and innovation, took a significant step towards empowering migrant workers recently by launching its new Financial Literacy guide titled, “Is this Every Sri Lankan Migrant Worker’s Story?” (Rata Yana Api Hamogema Kathawada Meh?). The launch, spearheaded by DFCC Bank PLC’s Remittances Department, aims to create awareness about financial literacy and educate migrant workers on the advantages of remitting their hard-earned money through legitimate channels while contributing to increased foreign currency inflows to the country.

Commenting on the initiative, CEO- Thimal Perera highlighted DFCC Bank’s dedication to uplifting the migrant worker community, “As the Bank for Everyone, we believe in empowering all our customers, including our global community of migrant workers, with the knowledge and tools they need to make informed financial decisions. This Financial Literacy Guide is our way of supporting the migrant workforce, helping them to secure their financial futures better, and take advantage of the opportunities available to them as earners of foreign currency for Sri Lanka.”

As DFCC Bank’s Financial Literacy Guide equips migrant workers with essential financial knowledge, it is set to become a trusted guide for their financial planning and investment decisions. By improving their financial literacy, these Sri Lankans will be better equipped to secure their financial future and support their loved ones back home.

Senior Vice President of Offshore Banking, Remittances and Business Development, Anton Arumugam, also discussed the importance of this initiative saying, “Migrant workers play a vital role in supporting our economy and are a crucial part of our society. This guide answers important questions and clarifies their options whilst educating them on the importance of using legitimate banking channels to make inward remittances and the risks of relying on informal methods. In addition, we will be organising activities targeting migrant workers at the regional level, facilitated by the regional offices of the Sri Lanka Bureau of Foreign Employment (SLBFE).

The guide was launched at a special ceremony held at the DFCC Bank Head Office, with the patronage of the Sri Lanka Bureau of Foreign Employment and its Assistant General Manager for Corporate Affairs, Mr L. A. P. K. Liyanwala. During the event, he expressed his support for the timely initiative and discussed its importance, “We greatly appreciate DFCC Bank’s commitment to promoting financial literacy among migrant workers. This endeavour aligns with our shared goal of ensuring the welfare and safety of our migrant workforce. We believe that informed and financially savvy migrant workers can positively impact their families, communities, and ultimately the nation.”

DFCC Bank’s dedication to promoting financial literacy among migrant workers reflects its vision of building a financially inclusive society. Through the guide, DFCC Bank enables better financial decision-making and encourages responsible and secure remittance practices. The initiative also aligns with DFCC Bank’s sustainability strategy, aiming to build stronger communities through sustainable finance and an inclusive approach.

Cover Page – Financial Literacy Guide

Thimal Perera – Director/CEO (DFCC Bank PLC) presenting a ceremonial copy of the guide to L. A. P. K. Liyanwala, AGM Corporate Affairs, Sri Lanka Bureau of Foreign Employment

From Left to Right – Ishani Kudagamage, DFCC Bank PLC, W. A. K Kumari, DGM Finance, Sri Lanka Bureau of Foreign Employment, Anton Arumugam – Senior Vice President, Offshore Banking, Remittances and Business Development, DFCC Bank PLC, Thimal Perera, Director/Chief Executive Officer, DFCC Bank PLC, L. A. P. K. Liyanwala, AGM Corporate Affairs, Sri Lanka Bureau of Foreign Employment, Nilmini Gunaratne, Vice President/Head of Marketing and Sustainability, DFCC Bank PLC, Iranga Amilana, Assistant Vice President – Offshore Banking, Remittances and Business Development, DFCC Bank PLC

About DFCC Bank

DFCC Bank is a full-service commercial bank with a rich history of 68 years and offers a diverse range of commercial and development banking services. As part of its Sustainability Strategy 2020-2030, the Bank aims to become a leading institution contributing to greater resilience by creating resilient businesses and supporting green financing and sustainable, socially responsible entrepreneurship. Attesting to its commitment to sustainability, DFCC Bank is also the first, and presently only, entity in Sri Lanka to have received accreditation from the Green Climate Fund (GCF), granting it access to concessionary funding to support climate mitigation and adaptation projects in Sri Lanka. The Bank has received numerous accolades, including’Market Leader in Cash Management 2021 and 2022′ by Euromoney and is ranked among Business Today’s Top 40 Corporates in Sri Lanka. Additionally, DFCC Bank is rated A- (lka) by Fitch Ratings Lanka Limited and is regulated by the Central Bank of Sri Lanka. 

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