USAID’s Private Sector Development project signs MOU with HNB to expand financing to MSMEs
The U.S. Agency for International Development’s (USAID) Private Sector Development project signed a Memorandum of Understanding (MOU) with Hatton National …
Banking and Finance
Swarnamahal Financial Services to resume business for 6 months for limited purpose
The Monetary Board of the Central Bank has made an order permitting Swarnamahal Financial Services PLC (SFSP) to resume business for a limited period of six …
Sri Lanka 2022 budget appropriation bill initial observations: ICRA
Key takeaways § Decline in total expenditure is achieved at the expense of the capital spending § Capital heavy ministries take capex …
Video Interview: Women in leadership – Sonali Dharmawardene
Continuing with our women in leadership interview series, this month LBO is featuring Sonali Dharmawardene, a very sucessful fashion designer and entrepreuner …
Legal validity of digital signatures highlighted
Digital Signatures have been in use in Sri Lanka since 2009, however, due to the outbreak of the pandemic and travel restrictions, signing documents physically …
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 …
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 …
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 …
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 …
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, …