Interview: Futureproofing banking sector through digital-first mindset
There is a good reason why digitalisation is a top priority for banking. When done correctly, it enables paradigm shifting improvements in customer experience …
Banking and Finance
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Sri Lanka gets USD 110Mn for health systems enhancement project from ADB
The Government of Sri Lanka decided to borrow a loan amounting to USD 110 million from ADB and a grant of USD 03 million, provided by ADB-managed Japanese Fund …
ADB to promote SME sector in Sri Lanka
Asian Development Bank (ADB) Director General for South Asia Department Kenichi Yokoyama has assured President Gotabaya Rajapaksa that the ADB will support the …
Sri Lanka projected to grow by 3.3-pct : Shifting gears to services-led growth can help build back better
Sri Lanka’s economy is projected to grow by 3.3 percent in 2021, but the medium-term outlook is clouded by pre-existing macroeconomic weaknesses and the …
Technology critical to transform education sector – UNDP experts
With the onset of COVID-19, the world has seen disruptions to traditional forms of education. In Sri Lanka, since the first wave and the resulting lockdown in …
EU GSP+ monitoring mission concludes visit to Sri Lanka
A team of senior European Union (EU) officials began an official visit to Sri Lanka on 27th September 2021 to review Sri Lanka's progress in implementing the …
WB supports safe, climate-resilient transport connectivity to strengthen agricultural supply chains
The World Bank’s Board of Executive Directors today approved $500 million in financing for Sri Lanka to provide safe, climate-resilient roads to connect …
Sampath Bank payment gateway enhances eCommerce with acceptance of UnionPay
Sampath Bank today announced that the Sampath Bank Payment Gateway, the only online solution which provides the most cost-effective and secure payment …
Not a single instance of wrongdoing in forensic audits by Gov Cabraal
The Auditor General was not given the assignment to carry out the Forensic Audits, a recently released statement from the Central Bank said. "But instead, two …
Interview : A closer look at Bancassurance with Vindya Cooray
Bancassurance is a relatively novel concept in the financial services industry of Sri Lanka. It enables consumers to fulfill both financial needs and insurance …
UK removes Sri Lanka from the red list for entering England
Sri Lanka will move to the amber list for entering England from 22 September 2021, updating its foreign travel advice, the Government of the United Kingdom …
United States Delivers USD40 Mn to Support Small Businesses & Empower Sri Lankan Women
The United States has provided $40 million in financing to SDB Bank in order to bolster Sri Lanka's Small and Medium sized Enterprise (SME) sector and assist …
Weak Operating Environment Continues to Pressure Sri Lankan Banks’ Ratings: Fitch
Heightened risks from the challenging operating environment stemming from the Sri Lanka sovereign’s (CCC) weak credit profile and the ongoing Covid-19 …
Standard Chartered wins ‘Most Responsive Bank against COVID-19’ Award from ADB
Standard Chartered affirmed its position as one of the largest trade finance counter parties of the Asian Development Bank (ADB), winning the ‘Most …
Fitch Rates National Development Bank’s Basel III Sub Debt A-(lka)(EXP)
Fitch Ratings has assigned the proposed Basel III-compliant subordinated unsecured debentures of Sri Lanka's National Development Bank PLC (NDB, …
Sri Lankan import restrictions at odds with WTO rules hurt welfare of citizens: Economists
A panel of eminent economists urged that the Government take credible and decisive action to carry out immediate trade reforms. Advocata’s Academic Chair Dr. …
Fitch Rates Commercial Bank of Ceylon’s Basel III Sub Debt Final ‘A(lka)’
Fitch Ratings has assigned Commercial Bank of Ceylon PLC's (CB, AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated …
Nations Trust Bank Enables Growth of Small and Medium Enterprises
Employing over 70% of the working population in Sri Lanka, SMEs are responsible for nearly a third of the country’s industrial output with a sizeable …
Opinion: Avoiding IMF won’t help us avoid austerity
Naqiya Shiraz and Rehana Thowfeek Sri Lanka’s debt problems are a topic of national conversation. Foreign reserves, already low at USD 4bn in May 2021 …
Central Bank sets maximum interest rate on foreign currency deposit accounts of banks
Considering the anomalies in the interest rates offered and paid by licensed commercial banks on the rupee and foreign currency deposits, the Monetary Board of …