Kapruka Pty Ltd was established in 1999. From one office in Clayton, we have expanded our operations and we now have agents in Sydney, Canberra, Adelaide and Hobart. We have also expanded to New Zealand from 2008.
Initially the objective was to remit monies to Sri Lanka via the People's Bank, the Bank with the largest network of branches in Sri Lanka. Within a year Kapruka Pty Ltd expanded our services to include countries in the Sub Continent.
Gradually we have expanded further and now remit monies to many countries in the world.
We also expanded our services to our Sri Lankan customers by increasing our portfolio to include most of the major banks in Sri Lanka, including the Hatton National Bank, Seylan Bank, Sampath Bank, Commercial Bank, Bank of Ceylon and NSB.
Though we have increased our services to you, since inception, we have not increased our remittance charges despite increases in costs.
Mr. Kosala Jayasinghe (M.Sc, MBA, MEng, MIE Aust CPEng), formed Kapruka Pty Ltd in 1999 when working as a Sales Consultant to promote investment properties. In 2000, Remittance services commenced following the signing of an agreement with People's Bank of Sri Lanka.
With a background in Engineering and Banking, Mr. Jayasinghe worked for 10 years at the Ceylon Steel Corporation as an engineer and for 5 years at DFCC as the Head of Business promotions. He has a Master of Science in Mechanical Engineering from the Friendship University in Moscow obtained in 1973 and also a Master in Business Management from the University of Sri Jayawardenapura obtained in 1986. He also has a Master of Engineering in Project Management from the RMIT obtained in 1994.
From 1991 to 1996 Mr Jayasinghe established and managed a branch office, Grid Australia , for the Grid Group of Companies with its head office in the Netherlands trading mainly with Russia. In 1996 Mr Jayasinghe moved to Moscow as a Project Manger to set up a trading unit with Sri Lanka for the company. In 1997 he joined Eswaran Brothers International setting up a tea distribution network for the company in Moscow. On his return to Australia in 1999, Mr. Jayasinghe worked briefly as a Sales Consultant for an Investment property company.
Having commenced the remittance service Mr. Jayasinghe was constantly looking to improve it. In order to provide the best possible service to Kapruka customers Mr. Jayasinghe successfully negotiated with the other major banks in Sri Lanka and agreements were signed with the Hatton National Bank (HNB), Seylan bank, Sampath Bank and Commercial Bank and in 2008 Bank of Ceylon.
Raising the bar once again by moving over to the eBanking service introduced by most of the Sri Lankan banks, it has been possible to provide Kapruka customers with a reliable service that enables the funds to be received the same day.
Chairman Kosala Jayasinghe personal number Mobile 0418 556407
Kapruka Pty Ltd came into being because of remarkable officers of the People's Bank. One is Mr. Waidyanatha, a Research Officer of the People's Bank, who gave us the idea of starting a remittance service through the People's Bank. With its extensive branch network, it was possible to reach people living in even the more remote areas of the country, including the war torn areas of the North and the East of Sri Lanka.
Mr. Waidyanatha himself put forward this idea to People's Bank management and it was enthusiastically taken up by Mr. Dayaratne (AGM) and Mr. Karunasena (DGM), who saw the potential to serve people and the country. The proposal was submitted to the Board of Directors and these two gentlemen persevered in their efforts to ensure a successful outcome. Once Board approval was received, Kapruka Pty Ltd was accredited as the Agent in Australia, the first and only such agency of the People's Bank anywhere in the world.
To streamline our processing and reporting a database was developed by Sarath Kumara Kapuduwage. Kapruka was one of the very first companies to submit reports to AUSTRAC using their EDDSWEB reporting system thanks to Sarath's ability. AUSTRAC has recommended other companies to contact us for assistance in developing the reporting system for their purposes as well.
In an effort to better service our customers who held accounts in banks other than PB, we added major banks like Hatton National, Seylan, Commercial and Sampath banks, who also had branch networks and efficient services to our portfolio. Kapruka Pty Ltd also expanded to countries other than Sri Lanka when we were invited to become the Agents for Xpress Money, an overseas remittance company. Today our customer base includes people from Sri Lanka, the Sub-Continent, Africa, Asia-Pacific region and Europe.