CSE Expands Footprint with New Gampaha Branch
The Colombo Stock Exchange (CSE) officially opened its Gampaha Branch to the public this Tuesday (23rd June), further strengthening its countrywide presence. The inauguration of the branch was officiated by the Chairman of the Securities and Exchange Commission (SEC) Senior Professor D.B.P.H Dissabandara, Director of the CSE Mr. Sujeewa Peiris, and CEO Mr. Rajeeva Bandaranaike, in the presence of senior corporate and public officials.
The opening of the newest Gampaha branch brings the total number of branches to thirteen, as CSE enjoys a presence in every province with a presence in Matara, Kandy, Kurunegala, Negombo, Jaffna, Batticaloa, Anuradhapura, Ratnapura, Panadura, Bandarawela, Kegalle, Galle and now Gampaha. With the completion of the first phase of expansion –a branch in every province – the opening of Gampaha branch, which would be CSE’s third branch in the Western Province – comes as part of the second phase to establish a branch in all twenty-five districts.
The newest branch in Gampaha will facilitate a range of services including CDS account openings, access to a range of stockbroker services from eight (8) stockbroker firms, educational investor workshops and seminars for prospective investors and a service for entrepreneurs and businesses to access the stock market for capital through the different listing options available at the CSE.
Remarking in his opening address, Mr. Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange commented “As one of the country’s key hubs, Gampaha businesses have strong potential to leverage the capital market for expansion. Through the Empower Board platform the CSE offers and its presence in Gampaha, businesses can unlock the value of their business and create wealth in the economy. So, in Gampaha we are opening the doors for broad basing the stock market for both entrepreneurs and investors.”
Senior Prof. D.B.P.H. Dissabandara, Chairman of the Securities and Exchange Commission of Sri Lanka, remarked that Section 3 of the SEC Act No. 19 of 2021 sets out the objectives of the Act, which are to facilitate the creation of a securities market, maintain the market so created, and regulate the market in a fair, efficient, and transparent manner.
He further stated that while stockbrokers actively promote investment opportunities, it is equally important to safeguard the interests of investors once they enter the market. Protecting the interest of investors, he emphasized, is a fundamental responsibility of the SEC. Accordingly, the SEC’s role extends beyond regulation to fostering investor confidence and ensuring the protection of investors’ interests.
The Chairman also noted that capital raising is essential not only for the growth and expansion of companies but also for advancing the country’s economic development.
He also observed that, despite Sri Lanka’s population of approximately 22 million, the number of individuals actively participating in the capital market remains below one million. He noted that broadening the investor base requires reaching communities across the country and creating greater awareness of investment opportunities. In this context, he commended the Colombo Stock Exchange’s initiative to open its 13th branch in Gampaha, describing it as an important step towards expanding access to the capital market and encouraging wider public participation.