People’s Bank extended its premier “People Elegance” exclusive banking concept to Ratnapura by opening a “People’s Elegance” banking centre on October 2, to cater to leading high net worth customers in the world renowned gem city.
The new banking centre, located at the People’s Bank Regional Head Office in New Town Ratnapura, was opened by the Chief Guest, Governor of Sabaragamuwa Province Tikiri Kobbekaduwa. Chief Executive Officer and General Manager Ranjith Kodituwakku, Deputy General Manager (Channel Management) Lionel Galagedara, Deputy General Manager (Enterprise Banking) Krishani Narangoda, Ratnapura Regional Manager Nalin Perera and other bank officials were also in attendance.
A large number Sri Lanka’s leading gem exporters, also participated in the opening ceremony.
“People’s Elegance” Banking centre will provide an array of exclusive personalized banking services to meet unique banking requirements of discerning high net worth customers of the area and investors of the “International Gem City” mega project in Ratnapura. People’s Bank is the official investment banker to the mega integrated development project that is expected to be completed over the next 4-5 years.
Although Sri Lanka is renowned the world over as an island blessed with precious gems, there is no international hub for gems for the island to market on the global stage. With the aim of rectifying this shortcoming, the Urban Development Authority (UDA) has envisioned a plan to commence a mega integrated development project that will create the “International Gem City” in the city of Ratnapura within the next five years.
The UDA has already allocated 50 acres of land in Ratnapura for this project and the proposed “International Gem City” will consist of large areas solely dedicated for all gem-related activities and services including gem auctions, exhibitions, laboratories and lecture rooms. A 5-star hotel is also part of the project bringing added convenience to international gem traders and tourists. In order to further enhance the knowledge levels of Sri Lanka’s youth on gems, an undergraduate degree in Gemmology in collaboration with the University of Sabaragamuwa is also in the pipeline.
The UDA has already allocated 15 acres of land in Ratnapura for the project. This project along with two other key pillars, the Ruwanpura Expressway and tourism in the Sabaragamuwa Province are expected to play a key role in developing the province in the next 4-5 years. Additionally, the Sabaragamuwa Provincial Council has earmarked 69 tourism destinations in the Sabaragamuwa Province for further development to prepare them to accommodate a large number of international tourists.
The International Gem City will be driven by a company established by the UDA with funds being acquired through shares issued to the public as well as from international investors by the National Gem and Jewellery Authority.
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