A A A
A A A

Foreign
Currency A/C

CTRA

Capital Transactions Rupee Accounts

ERIA

Emigrant’s Remittable Income Accounts

NRRA

Non Resident Rupee Accounts

Capital Transactions Rupee Accounts

Eligibility

  • An emigrant, resident in or outside Sri Lanka.
  • A Non- National resident in or outside Sri Lanka including minors of such person.
  • An individual Sri Lankan resident in or outside Sri Lanka who has obtained Temporary Resident visa in another country, aged 18 years or above.
  • An individual Sri Lankan resident in Sri Lanka who is a prospective migrant under the parent migration scheme.
  • An administrator or executor of the estate of a deceased person who was an emigrant.

Special Benefits

  • 100% protection on your investments

Opening and Maintaining the Accounts

  • The CTRA may be opened and maintained in the form of Savings or Current (without overdrawing facility) account, in Sri Lanka Rupees.
  • Eligible persons shall open only one CTRA in the banking system and shall be held as sole account.
  • Both CTRA and ERIA shall be opened and maintained with the same Bank.

Required documents and information

  • Duly completed Account opening Application (Annexure 1)
  • Address verification doc.
  • Sl passport/s (all pages of the sl pp after obtaining pr)
  • Foreign pp (if available-identification page, alternative and observation pages of current pp)
  • Permanent residency (endorsement or other documentary evidence to prove pr date & country
  • Certificate of citizenship or dual citizenship
  • Identity document (nic/dl etc.)
  • Request to open ctra/eria (Annexure 2)
  • Affidavit confirming migration (Annexure 3)
  • Power of attorney (if available)
  • If the emigrant has been born outside sri lanka, a copy of the birth certificate
  • Source of funds confirmation document
  • Any other document stipulated by the bank

  • Where the account holder is an emigrant, resident in or outside Sri Lanka;
    • Remittances in foreign exchange received from outside Sri Lanka in favour of the account holder through the banking system, for the purpose of local disbursements in Sri Lanka.
    • Any proceeds realized from any asset in Sri Lanka (including movable, immovable, tangible and intangible assets), owned by the emigrant while being a resident in Sri Lanka or acquired by utilizing funds through such emigrant’s Sri Lanka rupee accounts prior to the regulations coming into effect.
    • Any proceeds derived from any assets in Sri Lanka (including movable, immovable, tangible and intangible assets) that are inherited by an emigrant, from a person resident in Sri Lanka.
    • Any proceeds derived from any asset in Sri Lanka (including movable, immovable, tangible and intangible assets) that are received as a gift by the emigrant, from an immediate family member who is a person resident in Sri Lanka.
    • Any proceeds realized from any asset in Srilanka [including movable, immovable, tangible and intangible assets, excluding funds held in the Personal Foreign Currency Accounts (PFCA) or Inward Investment Accounts (IIA)] that are inherited or received by way of a gift to or by the emigrant from another emigrant who is an immediate family member (i.e. transferor) out of the investments, made while being a resident in Sri Lanka or made through his or her Sri Lanka Rupee Accounts prior to the regulations coming into effect to inherited by the transferor or received as a gift by the transferor or made through a Non Resident Rupee Account (NRRA) of the transferor as permitted in the Foreign Exchange (Classes of Capital Transactions Undertaken in Sri Lanka by a Person Resident Outside Sri Lanka) Regulations No.02 of 2021.
    • Monetary gifts received by the emigrant from an immediate family member, being funds realized from any asset in Sri Lanka (including movable, immovable, tangible and intangible assets)
    • Any income derived from the investments owned or acquired or inherited or received by way of a gift by the emigrant as mentioned under 2 (a) (ii) to 2 (a) (v) above.
    • Superannuation benefits of the account holder [including Employees Provident Fund (EPF), Employees Trust Fund (ETF), gratuity and pensions or any other retirement benefits].
    • Transfers from NRRA of the account holder.
  • Where the account holder is a Non- National resident in or outside Sri Lanka including a minor;
    • Any income and any capital proceeds of the investments as permitted under subparagraph 4 (5) (c), 4 (5) (d) and 4 (7) under heading A of Schedule I of the Foreign Exchange (Classes of Capital Transactions Undertaken in Sri Lanka by a Person Resident Outside Sri Lanka) Regulations No. 02 of 2021 in Extra ordinary Gazette No. 2213/35 of 2021.02.03
    • Superannuation benefits of the account holder [including Employees Provident Fund (EPF), Employees Trust Fund (ETF), gratuity and pensions or any other retirement benefits].
  • Where the account holder is an individual Sri Lankan who has obtained Temporary Resident visa in another country, aged 18 or above; funds equivalent to maximum of USD 30,000, to obtain foreign exchange, as permitted under the regulations.
  • Where the account holder is an individual Sri Lankan who is a prospective migrant under the parent migration scheme; funds equivalent to the amount of the payment to be made to overseas authorities for obtaining visa under the parent migration scheme, as permitted under the regulations.
  • Where the account holder is an administrator/executor of the estate of a deceased person who was an emigrant;
    i. Transfers from CTRA or NRRA or Emigrant’s Remittable Income Account (ERIA) of such deceased person
    ii. Any income or capital proceeds receivable to such deceased person as referred under paragraph 2 (a) excluding 2 (a) (vi) above.
  • Income received for the services provided by the accountholder.
  • Interest earned in Sri Lanka Rupees on the funds held in the account.

Note

  • Migration Allowance
    • Limits applicable on Migration Allowance are stipulated in subparagraph 3 (1) and 3 (2) in Schedule I of Regulation No. 03 of 2021 (Extra ordinary Gazette No. 2213/36 of 2021.02.03)
    • However, these limits have been further curtailed by Order made under section 22 of the FEA No. 12 of 2017 under Gazette Extraordinary No. 2182/37 dated 2020.07.02 and by Gazette Extraordinary No. 2234/49 dated 2021.07.02
  • If further clarification is required in this regard, please contact Manager - Travel Department (OCS) - Tel. No. 011-2433140 or Chief Manager (OCS) – Tel 011-2433146

Contact Us

  • Manager - Foreign Currency Department , People’s Bank, Overseas Customer Services
  • +94 112332745
  • 0112332746 / 2334278 / 2437621 / 2446409
  • nrfc@peoplesbank.lk
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Director

Mr. A M P M B Atapattu

Mr. A M P M B Atapattu currently serves as a Secretary to the Ministry of Trade, Commerce and Food Security and he has over 28 years of work experience in Banking, Finance and Business Administration.

He graduated from the University of Sri Jayawardenapura with a BSc in Management (Public Administration) Second Class Upper Division Degree. He also holds a Master’s Degree in International Development from Flinders University, Australia, and has completed two postgraduate diplomas: Economic Development from the University of Colombo and Development Economy from the Institute of Development Economies, Japan. His research topic for his Master’s Degree in International Development awarded by Flinders University in 2004 was “Rationalisation for Industrial Development in Sri Lanka”. In addition, holds a Licentiate Certificate from the ICASL, Sri Lanka.

Before assuming the current position he worked as a Senior Additional Secretary to the President of Sri Lanka and was assigned the duties of economic reforms in the section of Stabilisation Recovery and Growth of the economy. As the Director General, (Planning) of the Ministry of Education he was in charge of preparing the Capital Budget of the Ministry and monitoring the development projects of the Ministry. Further, as a Deputy Secretary to the Treasury, he was in charge of donor funding projects, implementation of trade and tariff policies of the Government, and monitoring of the national budget. Also, he has initiated the ‘Enterprise Sri Lanka Subsidiary Loan & Development Programme’ as a national budget proposal of the Government.

Mr. Atapattu has also functioned as Director General of the Department of Development. In that capacity, he has initiated warehouse receipts financing system for grain farmers and fertiliser cash subsidy scheme for farmers. Further, he has implemented Refinance Loan Schemes called “Small and Medium Enterprise Regional Development Project” (SMERDP) funded by the Asian Development Bank, “Small and Medium Enterprise Development Facility Project” (SMEDeF) funded by the World Bank, and “Small and Medium Enterprises Line of Credit (SMELoC) funded by the Asian Development Bank. In addition, he has executed the SME Development Programme funded by the German International Cooperation (GIZ) as well as the “Rooftop Solar Power Generation Line of Credit Project” (RSPGLoC) funded by the Asian Development Bank.

Mr Atapattu has also performed his duties as the Treasury Representative on the Board of Investments, People’s Bank, Sri Lankan Airline Limited, Sri Lanka Tea Board, National Lotteries Board, Sri Lanka Savings Bank, Lankaputhra Development Bank, Cooperative Wholesale Establishments, University of Vocational Technology and the Insurance Regulatory Commission of Sri Lanka.

Chairman

Mr. Sujeewa Rajapakse

Mr Sujeewa Rajapakse is a Managing Partner of BDO Partners, a firm of Chartered Accountants. A Fellow of The Institute of Chartered Accountants of Sri Lanka (FCA) and a Fellow of the Institute of Chartered Management Accountants of Sri Lanka (FCMA) and a Member of the Association of Chartered Certified Accountants (ACCA). Mr Rajapakse holds a Master of Business Administration (MBA) from Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura. During his professional career that spanned nearly four decades, he held the honorary positions of President, Vice President and Council Member (elect) of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), Former Chairman of Auditing Standards Committee of CA Sri Lanka, President of Practicing Accountants Forum of Sri Lanka, Treasurer of Sri Lanka Cricket, Treasurer for Cricket World Cup 2011, Board Member and Technical Advisor to South Asian Federation of Accountants (SAFA), Technical Advisor to Confederation of Asia Pacific Accountants (CAPA). Currently he is serving as the Board Member at Haycarb PLC, Dipped Products PLC, Hayleys Agriculture Holdings Ltd. and Lanka Holdings (Pvt) Ltd. Also, he is a Council Member of the University of Sri Jayewardenepura.

He was the Chairman of People’s Leasing & Finance PLC. He has served in the directorates of National Development Bank PLC, NDB Capital Holdings Ltd. – Bangladesh, The Finance Company PLC (appointed by the CBSL under the restructuring programme) Unidil Packaging Ltd. & Unidil Packaging and Solutions Ltd., and Deputy Chairman of Softlogic Life Insurance PLC.

His expertise includes all accounting and auditing standards and practices, Government regulations related to financial disciplines and ethics, human resource management and overall management practices and principles in both private and public sectors.

Corporate Credit Card




People’s Corporate Credit Card provides a robust business related expenses management tool for companies. The Corporate Credit Card enables companies to easily track and control expenses while providing real-time expense management. It is not just a Card, it is an all-access permit to the premier level of living, enhancing your corporate life to the next level.
With People’s Corporate Credit Card, you enjoy convenience, efficiency and control in the palm of your hand. This Card is tailor made to put you in complete control of your company’s financial necessities.
Benefits & Features
  • Free SMS alerts to every POS / ATM and Online transactions
  • Free e-statement facility for a company designated email accounts
  • Enjoy complete control over your Corporate expenses.

Director

Mr. Kumar Gunawardana

Kumar Gunawardana was appointed to the Board of Directors of People’s Bank on 26.12.2019 as a non-executive director. He commands over 40 years of experience in diverse areas of banking. Having started his career with Commercial Bank PLC in 1979, he has moved on to Amsterdam Rotterdam Bank (Amro Bank), ABN Amro Bank and finally to National Development Bank PLC (NDB). He has served in Senior Management positions for over 20 Years having first appointed as an Assistant Vice President of ABN AMRO Bank in the year 2000. His areas of expertise is wide and varied and include Branch network management, Institutional banking, Trade finance, Operations, Administration and services. He has also served as a Member of the Board of Directors of Development Holdings (Pvt.) Ltd. which is an entity jointly owned by National Development Bank PLC (NDB) and Export Development Board (EDB) and Treasurer of Sri Lanka Tennis Association.

Director

Mr. Dushan Soza

Dushan Soza is a highly accomplished professional with a diverse background in the BPO industry, banking sector, and community service. He served as the Managing Director of WNS Global Services Sri Lanka for 15 years, successfully building the business from scratch to over Rs 1 billion in revenue, serving marquee global customers. As a founding member of SLASSCOM, he played a vital role in shaping the IT/BPO industry in Sri Lanka.

Dushan has also served on the board of Softlogic Finance, chairing the IT and Risk committees. Currently, he runs BPMOne, a company specializing in transformation and process reengineering. His key skills in banking include core banking, workflows, FinTechs, and digital technologies. He has also made contributions in consumer affairs, serving on the Consumer Affairs Board.

Additionally, Dushan holds board positions in Phoenix Pvt Ltd and PrintCare Digital, and he advises the Port City Economic Commission. He is a dedicated member of the Rotary community, serving as the District Governor for Sri Lanka and Maldives and as a member of the Strategic Committee at Rotary International.

Director

Mr. Udeni Samararatne

Udeni. K. Samarararatne is an experienced senior finance professional with a career spanning over 35 years. He has worked in senior finance positions in quoted companies such as Sri Lanka Telecom PLC. which is one of Sri Lanka’s largest companies where he worked as the Chief Financial Officer. He has also worked at leading local companies such as Lanka Ashok Leyland PLC., Kelani Tyres PLC. , ACME PLC., Richard Pieris PLC. and multinational companies such as Noritake of Japan one of the world’s largest porcelain ware manufacturers, Ferrero of Luxembourg one of the world’s largest chocolate manufacturers, CEAT of India which is in a joint venture agreement for producing tyres with Kelani Tyres PLC of Sri Lanka.

He is qualified in ACCA U.K and CIMA U.K. He also holds an MBA from the Swiss Business School in Zurich Switzerland, a Higher Diploma in International Relations from the Bandaranaike Centre for International Studies and a Diploma in Professional Diplomacy and World Affairs from the Bandaranaike International Diplomatic Training Institute. He also holds a Master’s qualification from the Colombo University in Financial Economics.

Director

Mr. Dushmantha Thotawatte

Mr Dushmantha Thotawatte was appointed to the Board of Directors with effect from 8 July 2022. Mr Thotawatte is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka with a Bachelor of Commerce (Special Degree) from the University of Sri Jayawardenepura & a Master in Financial Economics from the University of Colombo. He is an accomplished leader who has extensive experience in the field of Financial Management, Corporate Governance, Strategic Management, and Public Relations. He counts over 40 years of experience and possesses a successful track of holding positions such as Chief Executive Officer, Chief Financial Officer, and Chief Internal Auditor in many state-owned enterprises and private organisations.