Banking Trend

PRODUCT CATEGORY OF PAN ASIA BANK Deposits Saving Accounts                                Normal savings                            Rs1000 Champion saver                            Rs1000 Salary accounts/salary saver       Rs200 Sammana saving                            Rs200 Minor saving account                      Initial deposit Daskam         1000 Mithuru         500 Target investment plan 2 year investment plan 3 year investment plan 4 year investment plan 5 year investment plan Blue chip money market saving Below 10 mn-   0% Above 10mn -   10.5% Currency Interest rate AUD 2.25% CAD 1.00% CHF 0.5% EUR 1.15% GBP 1.5% JPY 0.10% USD 2% Promotions Loans Sawbagya loan scheme                                8% Awakening north refinance                         9% Dairy development loan scheme                6% Niwasa home loan                                         17% Step up niwasa housing loan                       16.5%

The Bank's Begining To accommodate dynamic economic and financial system developments upon gaining independence in 1948, the post-independence Government of Ceylon (as Sri Lanka was then known) established the Central Bank of Ceylon to maintain an active monetary policy regime and a dynamic financial sector to support and promote economic growth. Prior to the establishment of the Central Bank, the Currency Board System set up under the Paper Currency Ordinance No.32 of 1884 functioned as the country’s Monetary Authority, though very narrow in its capacity. This system was deemed inadequate for a developing country upon gaining political independence.  Technical expertise to establish a central bank was sought from the United States of America (USA) in July 1948, with Mr. John Exter, an American economist from the Federal Reserve of USA being appointed to carry out this task. The Exter Report on the rationale and the legal framework for a central bank was presented to the