Bank of Ceylon Ltd. plans soon to begin issuing a credit card designed for state employees in the country as part of the government's e-governance program, a spokesperson for the Sri Lankan bank tells PaymentsSource.
“The program is designed to encourage the public servants to do e-transactions and thus serve as role models to further deepen the use of electronic money in the country,” he says.
The bank will launch the card on Jan. 15. It will be available to all public employees with healthy credit scores, the spokesperson says. The card will come with no annual fee and will charge annual interest rates ranging from 24% to 36%.
Approved cardholders will receive credit limits equal to three times their monthly salary, he adds, noting they may use the cards to pay their utility bills and other payments.
Bank of Ceylon issues cobranded MasterCards. Sri Lanka employs 1.1 million state workers.
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