Bankers to the nation Lights Up Maduwa Island With a New Era of Digital Banking

The Bank of Ceylon (BOC), Sri Lanka’s premier bank, extended its national mission of financial inclusion to the Southern Province with the opening of a new BOC Connect Agent Banking Centre at the Maduwa Sub Post Office. The Centre was declared open by the Governor of the Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe, marking a significant milestone for the island community.

Maduwa Island, home to nearly 300 families, a school, pre school, two temples and a sub post office which functions as the main community service hub, has long faced challenges in accessing formal banking services due to its remote and unique geography. The island connects to the mainland through a narrow, dilapidated six-foot-wide wooden bridge, making boat transport the primary means of travel. Today, around 400 boats operate in the area, supporting the livelihoods of families engaged in cinnamon cultivation, cinnamon-based cottage industries, fish therapy centers, eco-tourism ventures and river-based transport services. Although the island attracts both local and foreign visitors year-round, its residents have struggled to access banking services on the mainland, compelling them to cross the river for even basic transactions.

The newly established BOC Connect Agent Banking Centre brings much-needed convenience to the people of Maduwa by enabling them to carry out day-to-day financial transactions without leaving the island. The Centre offers essential banking services, including deposits, withdrawals, bill payments, loan facilities, remittances, mobile reloads and a range of digital services. It also supports the expansion of digital payment adoption among small and medium-scale businesses, while encouraging saving habits among school children. Through this initiative, BOC aims to strengthen digital financial literacy and create broader economic opportunities for rural communities.

During the ceremony, Dr. Weerasinghe carried out the first digital transaction using LankaQR, symbolically introducing secure cashless payment options to local enterprises. This initiative is expected to empower MSMEs and SMEs operating in cinnamon cultivation ( Hasindu Cinnamon Island), farming, traditional Kirala juice ( Sandya Juice Bar)  production, fish therapy, boat services and other tourism-related sectors by providing safe and convenient digital payment facilities. The digital payment option will also make transactions easier for tourists visiting the island, encouraging the flow of cashless tourism activities.

BOC further extended its support to the island’s education sector by donating essential school items, including books, stationery and learning materials, to the 131-year-old Maduwa Primary School and Singithi Pre School. The schools, which caters to the children of the island’s families, welcomed the Governor of the Central Bank and the Chairman of the Bank of Ceylon for the first time in its history.

Another significant moment of the event was the introduction of Sri Lanka’s first digital till (Pin Kataya) at the historic Sri Sudharmaarama Purana Viharaya, a temple with a history spanning over 200 years. Visitors were able to make donations electronically through a QR-based system, and the first digital contribution was made by Dr. Weerasinghe. BOC aims to introduce this system to religious institutions island-wide, providing a modern, safe and convenient method of offering donations.

The ceremony was attended by several distinguished guests, including the Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe, Chairman of Bank of Ceylon Kavinda De Zoysa, Acting General Manager and Chief Executive Officer Y. A. Jayathilake, Director of Payments and Settlements of the Central Bank K. V. K. Alwis, Deputy Postmaster General for Operations Premachandra Herath, Deputy Postmaster General for the Southern Province Raveendra Gunarathna, and Principal of Maduwa Primary School H. G. Chaminda Wickramarathna, BOC Deputy General Manager Branch Operations Priyal Silva, Cheif Marketing Officer Sameera Liyanage, Assistant General Manager (Product Development and Business Process Re-Engineering Project) Suresh Perera  together with members of the corporate and executive management of BOC.

This initiative in Maduwa Island marks another significant step forward in BOC’s national financial inclusion programme carried out in partnership with Sri Lanka Post. The Bank has now established 225 BOC Connect Agent Banking Centres across the country, including nearly 100 post offices and sub post offices, expanding access to banking facilities for rural and semi-urban communities and creating opportunities for savings, digital banking and sustainable livelihoods. The opening in Maduwa follows the successful introduction of the initiative in the Northern Province, including the recent inauguration in Analativu Island.

For more than 86 years, the Bank of Ceylon has been a driving force in shaping Sri Lanka’s financial landscape, connecting people and businesses to economic opportunities across the nation. With a network of over 2,300 service points including more than 660 branches, BOC provides efficient and accessible banking services across the island. The Bank continues to earn recognition for its performance, being ranked the top Sri Lankan bank among the Top 1000 World Banks 2025 by The Banker Magazine UK and was awarded the People’s Banking Services Brand of the Year at the SLIM KANTAR People’s Awards 2024. With international operations in London, the Maldives, Chennai and the Seychelles, the Bank continues to strengthen its global presence while remaining committed to uplifting local communities through financial empowerment.