DFCC Bank launches new scheme for cinnamon exporters

DFCC Bank has implemented a programme to recognise key cinnamon exporters and the significant contributions made by the exporters and their value chain, and to commemorate their hard work in increasing foreign exchange flows into the country.

Through the recognition programme, DFCC Bank provides customised export financing solutions to cinnamon exporters after a period of engagement to best understand their requirements, the bank said in a media release.

The programme follows the on-boarding of several key players in the cinnamon production and export industry further to engagements carried out by selected branches. The solutions provided by DFCC Bank have thus far been well utilised enabling a significant increase in the sector’s business volume.

The release said export earnings from the spices sector have shown significant growth with cinnamon being the main spice where global demand for true Ceylon cinnamon is increasing due to a heavier global focus on health and safety, and consuming products that contribute to securing it.

Commenting on the importance of the recognition programme, VP – Offshore Banking, Trade & International Business Development, Anton Arumugam said: “We look forward to driving the growth the export market through our targeted financial solutions, thereby creating significant economic value for the nation. The recognition programme is part of DFCC Bank’s long-term journey of contributing to the growth and prosperity of our stakeholders.”