Laugfs Sunup Supermarkets private Limited, a subsidiary of LAUGFS Holdings Limited breaking yet another milestone in modern trade introduced foreign money changing facilities at its Wellawatte outlet on Friday, offering the general public, a yet another ground breaking service where the public will be in a position to change their foreign currency while shopping at the LAUGFS Sunup supermarket Wellawatta.
Governor of the Central Bank Ajith N. Cabraal who was the chief guest at the opening ceremony of the LAUGFS Sunup Foreign Exchange counter at its Wellawatta outlet commended LAUGFS for coming forward in joining hands to expand the money changing facility in the country.
“In terms of the country’s development there is a change taking place in Sri Lanka if you look at the indictors i.e. what we had five years ago and what we have today. Today we are talking about remittances coming to the country to a value of Rs.5 billion and it is increasing. As the remittances increase we have to make sure that our infrastructure is improved to meet the demand and offer more easy access for the people to change their money without any hindrance. Earlier we had very few money changers and we extended that to finance companies. Now we are hoping to increase the remittances beyond $5 billion mark and for that we need more and more facilities to meet the demand. What you have done today is that —offering additional service in your existing premises which will not only increase your service but also the productivity of the company,” Governor of the Central Bank Ajith N. Cabraal said.
He also said that LAUGFS was a truly Sri Lankan company and by offering money changing facilities at all its outlets will facilitate the people to change their money without any hindrance. In that sense LAUGFS has shown its capacity to the rest of the world that it has the capacity to move forward.
Chairman of LAUGS Holdings W.K.H. Wegapitiya said that LAUGFS being a truly Sri Lankan company which always supported the national cause and in that sense offering new money changing facilities at the Sunup Supermarket chain would indeed help the country to move forward.
“By offering foreign money changing facilities at LAUGFS Sunup Super Markets, we are now in a better position to serve the people. Most of the time people who depend on remittances coming from aboard had to travel to at least two places one to change their foreign currency and then buy their provisions. Now at LAUGFS Sunup Supermarkets, they can change foreign currency, and also buy their groceries at one place. We consider this service as great achievement for LAUGFS.
“For Laugfs Sunup, receiving a licence from Central Bank to act as an authorised money changer is an important event as we can now offer value added services through our supermarkets. Currently, we are providing banking, the facility of paying telephone bills, and pharmaceutical services at our Laugfs Sunup. By acting as an authorised money changer we will be in a better position to offer our customers an enhanced super marketing experience,” said Chief Executive Officer of LAUGFS Sunup Super Markets Limited Ravi Dahanayake.
Commenting on why Laugfs selected the Wellawatta outlet to launch the money changing facility, CEO Ravi Dahanayake said that it was an area where all communities live and most of them engage in money changing on daily basis.
“We see Wellawatta as an important area because a good number of people or their loved ones live abroad. Therefore by opening our outlet, we can offer them yet another service under one roof whilst they are supermarketing at our outlet. This will enable them to save time. Otherwise, they would have had gone elsewhere, may be a bank or some other money changer”.
The CEO also said that LAUGFS Sunup would be offering the new money changing facility at all its outlets soon.