SeaLead Shipping, a rapidly growing global shipping line, officially inaugurated its new direct liner service in collaboration with the Sri Lanka Ports Authority (SLPA) Wednesday, October 2, 2024, at the Port of Colombo. This significant development enhances maritime connectivity between the Far East, India, and East Africa through the launch of the Far East India Djibouti (FID) service. The inauguration ceremony at the Port of Colombo saw participation from distinguished representatives of both SeaLead and SLPA. Mr Bongso Basheer, General Manager Liner Management of SeaLead Shipping in Singapore, along with Mr Harsha De Silva, Managing Director of Specialised Shipping Services, and several other senior executives from SeaLead, were in attendance. Representing SLPA were Mr Lal Weerasinghe, Additional Managing Director of Operations; Harbour Master Captain Nirmal Silva; Mr. U. Kumara, Director of Operations and CEO of Colombo East Container Terminal (CECT); and Ms. G. Zavia Miskin, Director of Marketing and Business Development, alongside senior operational managers. The FID service, which commenced operations on September 5, 2024, provides weekly liner services, connecting vital ports in China, India, and Djibouti. The westbound route starts in Shanghai and includes key stops at Ningbo, Nansha, Port Klang, Colombo, Nhava Sheva, and Mundra, culminating in Djibouti. The return eastbound journey links Djibouti directly back to Shanghai, streamlining trade across these critical regions. In a statement from SeaLead, the company outlined the strategic advantages of the FID service. By providing direct connections between China, India, and Djibouti, the service is set to reduce transit times and boost trade efficiency across major global trade routes, especially with the inclusion of Colombo as a key hub port. Mr. Prabath Malavige, Managing Director of the Sri Lanka Ports Authority, commented on the mutual benefits of the collaboration, emphasizing the vital role of the Port of Colombo in the global supply chain. “This partnership with SeaLead aligns with our ongoing commitment to strengthen Colombo’s status as a premier maritime hub in the region. The FID service will not only enhance trade connectivity but also solidify the Port of Colombo’s strategic importance in facilitating efficient global shipping operations.” The introduction of the FID service reinforces SeaLead’s commitment to expanding its network, while also positioning Colombo as a critical player in the shipping and maritime industry for years to come.

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Sri Lanka Tourism with its continuous promotional efforts with clearly defined strategy and objectives, achieved the previous full year arrivals within the 1^st nine months of this year. In 2023 the total arrivals were 1,487,303. During the month of September 2024, a total number of 112,140 tourist arrivals were recorded which showed a 9% growth compared to last year. The key source markets which contributed for this achievement were India, China, UK, Germany, Australia, Maldives, Russia, Bangladesh, Spain and France. The success was achieved through many strategic initiatives. With the tourism industry at a cross road, “Seen is believing” influencer campaign created a huge impact to take the reality to the globe. Under this initiative, Sri Lanka Tourism Promotion Bureau (SLTPB) hosted nearly 180 media influencers from all over the world to take the positive message and to showcase the truth which supported   the industry to come back gradually to its normalcy. Some of the renowned travel influencers such as Luke Martin, (popular culinary vlogger) Nusier Yassin (also known as Nas Daily) and Ashish Vidyarthi(popular Bollywood actor)  brought in an immediate connect with this beautiful island which is known for its great hospitality. The recommencement of all major airlines with increased frequency and seat capacity was an indication to the industry that there is a hope for revival. With this positive vibe, the campaign “Check in …. Sri Lanka is ready” short term digital media campaign was launched. Facilitating stakeholder participation at key Travel & Tourism fairs and exhibitions along with B to B and B to C networking sessions, a positive message was taken to the prospective travelers globally. Some events participated are ITB Berlin, IFTM Paris, ATM Dubai, WTM UK, and SATTE India. The global recognitions achieved during the year were around 17, including the Pekoe Trail in Sri Lanka being recognized as one of the best in the world by the National Geographic, Sri Lanka being recognized by the Forbes magazine as the fourth most popular travel destination for 2024, and the most recent being ranked as one of the best countries to visit in your lifetime by the CEO World magazine. This is a testimony as to why someone’s choice should be “Sri Lanka” as their next holiday destination. Sri Lanka getting in to some of the top travel indexes has made the destination a desired choice. Building the destination brand positioning on three key pillars “Compact”, “Diverse” and “Authentic” will differentiate Sri Lanka from the other destinations and give the travelers compelling reasons to visit and revisit our beautiful island.

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The Central Bank of Sri Lanka (CBSL) wishes to announce the issuance of the Banking Act Directions No. 05 of 2024 on Corporate Governance for Licensed Banks on 30.09.2024. These Directions were issued with a view to strengthening the corporate governance processes and practices of the licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks), thus facilitating the conduct of banking business in a responsible and accountable manner in order to promote safety and soundness of the banking sector and the financial system as a whole. The new Directions will come into effect from 01.01.2025 with certain extended effective dates, upon which the prevailing Directions on Corporate Governance issued in 2007 will be revoked. The banking sector of Sri Lanka is mainly funded by deposits accounting for nearly 81.5% of the funding structure of banks as at end 2023. The board of directors (BOD) and senior management, i.e., chief executive officers and key management personnel of licensed banks play a pivotal role in safeguarding the interest of depositors. The banking sector is dynamic, fast evolving and becoming increasingly complex, while being exposed to emerging risks, frauds and failures. Accordingly, a robust corporate governance framework that encompasses sound corporate culture and values, healthy composition of BOD, strengthened process of assessment of fitness and propriety and strong risk management and control functions is of paramount importance for the banking sector. Accordingly, with the enactment of the Banking (Amendment) Act, No. 24 of 2024, which came into effect on 15.06.2024, inter alia CBSL focused on strengthening the legal and regulatory framework relating to corporate governance in the banking sector. The international standard setters such as the Basel Committee on Banking Supervision (BCBS) and regulators across the world have recently implemented several measures to strengthen corporate governance in banks in view of the recent governance failures and latest market developments. Accordingly, the Banking Act Directions on Corporate Governance for Licensed Banks issued in 2007, were further strengthened considering the provisions of the Banking (Amendment) Act, the present market and regulatory developments, international best practices, Basel core principles for effective banking supervision and the evolving requirements in the corporate governance regime. The key areas included in the revised Banking Act Directions on Corporate Governance inter alia are:

• BOD to inculcate a sound corporate culture which reinforces appropriate norms for professional, ethical, and prudent behaviour throughout the bank;
• strengthened responsibilities and the collective suitability and diversity among members of BOD;
• improved independence of BOD, where at least half of BOD shall comprise independent directors and the existing criteria for ascertaining independence criteria for directors was further strengthened;
• enhanced suitability of the Chairperson, requiring the Chairperson to be an independent non-executive director;
• improved composition and functions of Board sub-committees, including further strengthening the independence of sub-committees; where the chairperson of the bank shall not chair any of the sub-committees.
• improved oversight of related party transactions, requiring BOD to form a Board Related Party Transactions Review Committee to ensure that related party transactions are undertaken at arm’s length, with approved securities and within required limits.
• enhanced requirements on managing conflicts of interest;
• requirements in relation to the Board’s oversight of senior management and the key responsibilities of the risk management, compliance and internal audit functions of banks; and,
• strengthened requirements in relation to branches of foreign banks operating in Sri Lanka.

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The International Monetary Fund (IMF) confirmed ongoing discussions with Sri Lanka’s newly elected government as part of the nation’s ongoing economic recovery efforts. During a press briefing held on October 3, 2024, IMF Spokesperson Julie Kozack outlined the organization’s latest interactions with Sri Lanka, emphasizing the need for continued reforms to maintain economic progress. Following the election of President Dissanayake and the upcoming parliamentary elections on November 14, questions have arisen about the future of Sri Lanka’s current economic program under the IMF’s Extended Fund Facility (EFF). While one political faction supports sticking with the current program, another faction is calling for changes. Kozack noted that the IMF’s high-level delegation, led by Asia Pacific Department Director Krishna Srinivasan, is currently in Colombo to meet with the President and his economic team to discuss these developments. “Program performance is strong, and reform efforts are bearing fruit in terms of reviving economic growth, lowering inflation, boosting reserves, and improving revenue mobilization,” Kozack stated. However, she acknowledged ongoing vulnerabilities and uncertainties, stressing the importance of maintaining reform momentum. The delegation is expected to announce dates for the third review of the EFF program in due course. The second review, concluded in June 2024, provided Sri Lanka with immediate access to $336 million to support its reform agenda. On the debt restructuring front, Kozack confirmed significant progress in negotiations with international bondholders. On September 18, 2024, Sri Lanka reached an agreement in principle with bondholder representatives, pending the confirmation of comparability of treatment by Sri Lanka’s Official Creditor Committee (OCC). The IMF remains closely engaged with Sri Lanka’s government, aiming to guide the country through its recovery while balancing the demands of economic reform and political developments.

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DFCC Bank has proudly partnered with the Courage Compassion Commitment (CCC) Foundation as the official Banking Partner and Gold Sponsor of the 1333Bikeathon “Ride to Save Lives” campaign 2024. This powerful initiative, targeted at suicide awareness and prevention, commenced on August 29th from Independence Square in Colombo. Riders completed a 13-day, 1,333-kilometre journey across Sri Lanka to raise awareness about the 1333 toll-free crisis support hotline and generate crucial funds to sustain and expand its life-saving operations. In a strong display of support for its communities, DFCC Bank staff from its extensive branch network joined the campaign by participating in the ride, walk, and awareness sessions at various locations, embodying the Bank’s dedication to the cause. This initiative aligns seamlessly with DFCC Bank’s commitment to encouraging people to prioritise mental and physical health. It also aligns with the Bank’s broader Sustainability Strategy, which promotes healthier lifestyles among its stakeholders while furthering meaningful causes. By generously supporting the 1333Bikeathon, DFCC Bank is demonstrating its commitment to championing mental health and well-being while promoting sustainable practices. Thimal Perera, Director/Chief Executive Officer of DFCC Bank, discussed the significance of this partnership, saying, “Our collaboration with the 1333Bikeathon reflects our commitment to supporting the well-being of our communities. As the official banking partner of this important initiative, we are pleased to be able to help raise awareness about suicide and mental health and raise funds for the 1333 crisis hotline. By supporting this cause, we hope to make a lasting and positive impact on vulnerable individuals and communities in Sri Lanka.” Over the course of 13 days, participants passed through key hubs where local communities engaged through suicide and mental health awareness events designed to inspire positive change. The journey culminated on September 10th back in Colombo, aligning with World Suicide Prevention Day. Senior officials from DFCC Bank and other staff members joined the Ride on September 10th from Ratmalana to Independence Square. From Galle Face Green, DFCC Bank and stakeholders joined “Walk the Talk” – a final walk to raise awareness about suicide prevention while heading to Independence Square, where the concluding event occurred. The 1333 hotline, a unique and free telephone counselling service in Sri Lanka, offers emotional support and guidance for people facing personal crises or who just need someone to talk to about their problems. Callers can speak to trained telephone counsellors who are willing to listen and assist, providing counselling and referring to other support services. The hotline is a completely confidential and nonjudgmental service, ensuring each caller is treated with the utmost respect and care. As the 1333 Bikeathon riders approach their destination, the campaign’s impact is being felt across Sri Lanka, drawing attention to the critical need for personal crisis support and suicide prevention. DFCC Bank’s support, a key partner in this initiative, is a powerful demonstration of its commitment to social responsibility and sustainable development, reinforcing its leadership in driving positive change for the well-being of all Sri Lankans.

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The most anticipated event in Sri Lanka’s Marketing and Advertising industry, the Effie Awards, is now accepting entries for the 2024 competition. Renowned for honoring the most effective Marketing Communications campaigns, the Effie Awards Sri Lanka celebrates Creativity, Strategy and Results. Organized by the Sri Lanka Institute of Marketing (SLIM) in partnership with Effie Worldwide, the 15th edition of the Effie Awards Sri Lanka is the ultimate accolade for campaigns that demonstrate exceptional Marketing effectiveness. This year’s competition is expected to be fierce, with Brands and Agencies vying for recognition across various categories. The campaign submission window has been extended this year, allowing for a broader range of entries. Any campaigns run between January 2023 and April 2024 (15 months) are eligible for submission. A new opportunity has emerged this year with the Effie Awards now allowing individual verticals within an organization to submit entries. As part of Effie Worldwide, participants will have access to upcoming global training sessions scheduled for October (dates to be confirmed). There will be training sessions that provide valuable insights into crafting award-winning entries. Another highlight this year is that the Effie Sri Lanka Index will be published in a local context and will be available on the official Effie Awards Sri Lanka website. This ranking showcases the global significance and prestige of the Effie Awards, reinforcing the importance of participating. Gayan Perera, President of the Sri Lanka Institute of Marketing, emphasized the importance of effective Marketing, especially in challenging times. “In times of adversity, when budgets are tight, Marketers must be prudent in their strategies and executions. Effie is a global platform that allows the Advertising and Marketing community to showcase their best work, demonstrating tangible business results. Every year, with guidance from Effie Worldwide, SLIM strives to elevate our standards to meet global levels. We anticipate this year’s competition will be as intense and exciting as ever.” Dr. Dilhan Sampath Jayatilleke, Vice President of Events & Sustainability, highlighted the significance of the Effie Awards to the local Advertising community. “Effie is a much-awaited awards ceremony for the Advertising industry. As the national body of Marketing in Sri Lanka, SLIM is proud to host this prestigious global recognition. Winning an Effie brings not just national, but global recognition and pride. The satisfaction we get from providing a platform for your work to be recognized is immense. I encourage you to submit your creative work and be a part of this year’s Effie Awards.” Gayan Wijethilaka, Project Chairman of Effie Awards Sri Lanka 2024, spoke about the new initiatives for this year’s competition. “Effie Sri Lanka offers a unique opportunity for Brands & Agencies to showcase their Marketing excellence on a global stage. We are committed to helping participants craft the most compelling submissions, which is why we’re introducing a series of workshops titled ‘How to Build a Winning Case.’ These workshops will provide essential knowledge and tools for success. Additionally, this year marks the launch of the Effie Sri Lanka Index, aligning with the globally recognized Effie Index, to offer invaluable insights into the drivers of Marketing effectiveness. I invite all Brands and Agencies to rise to the challenge and compete for an Effie Award – ‘The Award That Matters.’” The competition is open to campaigns that have run in Sri Lanka between 01^st January 2023 to 30^th April 2024. Participants can submit their entries across multiple categories including Product and Service categories (Agricultural / Industrial / Building, Beauty, Education & Training, Culture & Arts, Government, Institutional & Recruitment, Healthcare, New Product & Service, Non-Profit / Pro-Bono / Public Service etc.) and Specialty Categories (Brand Experience, Corporate Reputation, Seasonal Marketing, Small Budgets Products & Services, Crisis Response / Critical Pivot, Social Media, Data Driven Media Idea, Influencers, E-Commerce etc.) A distinguished panel of industry experts will judge entries based on criteria such as Strategic Insight, Creative Execution, and Proven Effectiveness. Interested participants can obtain detailed information and submit their entries through the official Effie Awards Sri Lanka website at www.slim.lk/effie-awards, or by contacting via +94 70 326 6988. The Effie Awards Sri Lanka is part of Effie Worldwide, which recognizes excellence in Marketing Communications that contribute to a Brand’s success. With a rich history of celebrating impactful campaigns, the Effie Awards have become a benchmark for Marketing Effectiveness.

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• Baby Care: Diapers; Baby items; Toys
• Cleaning supplies: Dishwash Liquids; Toilet Rolls; Garbage Bags; and, Washing Powders
• Beauty products: Make-up products, Nail polishes, Moisturizers; lipsticks
• Stationery: Notebooks; Greeting Cards; Paper; Pens
• Pet Care: Cat/Dog Foods; Leashes; Collars; Toys
• Electronics: Phone accessories; home appliances; Chargers, Cables, Earphones, Phone Screen Protectors, Laptop Accessories, Power Banks, Bluetooth Speakers.

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The ‘Q+’ Payment App powered by the Commercial Bank of Ceylon can now be used by customers of other banks as well, following its integration with the ‘JustPay’ platform of LankaPay – the operator of Sri Lanka’s national payment network. Announcing the integration, Commercial Bank said customers from any domestic bank that supports the JustPay platform can download and use the Q+ Payment App for QR code transactions, bill payments, fund transfers and other payment types enabled via Q+, and also enjoy a host of benefits and offers throughout the year. The first LANKAQR certified mobile payment app in Sri Lanka, Q+ Payment App is also the only QR payment solution enabled for Sri Lankan merchants that supports six types of QR codes – LANKAQR, VisaQR, MastercardQR, UnionPayQR, Indian UPIQR and Alipay QR. Its integration with JustPay makes the app accessible to a broader customer base, thereby increasing convenience and fostering a more inclusive financial ecosystem, the Bank said. Considered one of the most reliable payment apps in the country with a 99.99% uptime and fast transaction speeds, Q+ Payment App went trilingual earlier this year, and offers the highest number of payment-related options among similar apps. “As the trailblazer in the adoption of digital payment technology, Commercial Bank is focused on continuous improvement, innovation and expansion of its offering in this sphere, to ensure that Sri Lankans can keep pace with global developments,” Commercial Bank’s Managing Director and Chief Executive Officer Mr Sanath Manatunge said. “The integration of the Q+ Payment App with JustPay is a good example because it substantially augments the functionality and accessibility of the app, solidifying its position as a premier digital payment platform in Sri Lanka. By extending the app’s usability to customers of other banking institutions, this advancement fosters greater financial inclusion and convenience, while delivering a seamless, highly secure, and efficient payment experience for users.” Welcoming Q+ Payment App aboard the JustPay platform, CEO of LankaPay Mr Channa de Silva said: “We are excited to welcome Q+ Payment App as the 29^th app to join our JustPay network, which marks another step towards enhancing financial inclusion and convenience for customers across Sri Lanka. This integration allows customers of any bank to use Commercial Bank’s digital payment platform via Q+ Payment App, creating the potential for a significant growth in adoption. Broadening the app’s availability to a wider customer base increases the benefits to existing merchants and would also encourage new merchants to get onboard with Q+ Payment App creating not only a more inclusive financial ecosystem but also reinforcing our collective efforts to drive innovation and deliver reliability.” Positioned as the next dimension of payment options, Q+ Payment App was adjudged the Best Mobile App for Retail Payments in Sri Lanka at the LankaPay Technnovation Awards consecutively for two years in 2023 and 2024. The app enables cardholders to pay through multiple payment options via their mobile phones including ‘Scan & Pay’ by scanning the merchant’s QR code. Since the launch, the app has undergone numerous functionality-enhancing upgrades. Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank operates a strategically-located network of branches and 974 automated machines island-wide, and has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives. LankaPay is Sri Lanka’s National Payment Network and one of South Asia’s most progressive payment networks. Operating under the guidance of the Central Bank of Sri Lanka, LankaPay provides the payment infrastructure backbone to the country’s financial sector, facilitating the domestic interbank payments and settlements. Since its inception in 2002, LankaPay has pioneered several groundbreaking payment technology innovations including JustPay. JustPay, launched in 2018, is a mobile payment platform which connects customers, financial institutions and merchants on a single platform, enabling real-time merchant payments directly via bank accounts, at a significantly a lower cost to merchants, making it an attractive alternative to card-based payments. Photo caption: Commercial Bank Managing Director/CEO Mr Sanath Manatunge and LankaPay CEO Mr Channa de Silva exchange the agreement in the presence of the Bank’s Chief Operating Officer Mr S. Prabagar, Deputy General Manager – Retail Banking & Marketing Mr Hasrath Munasinghe, Head of Card Centre Mr Nishantha De Silva, Senior Manager Card Centre Mr Seevali Wickramasinghe and LankaPay Deputy CEO Mr Dinuka Perera.

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• Below mentioned names & designation to make the photo caption left to right.
• Mr. Neil Priyathjohn – Director Asiri Laboratory Services
• Mr. S. Balamurugan – National Sales Manager – PVT sector
• Mr. Nandana Jayanath Soysa – Senior Medical Laboratory Technician
• Mrs. Arosha U Silva –Senior Marketing Manager

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LTL Holdings Limited has announced that its Initial Public Offering (IPO) will be postponed following instructions from the Securities and Exchange Commission of Sri Lanka (SEC). The decision comes after a directive from the Colombo Stock Exchange (CSE) to publish an addendum to the IPO prospectus dated August 29, 2024. The SEC, by a letter dated October 01, 2024, has advised the CSE to halt proceedings related to the IPO until the Supreme Court rules on an interim relief sought by the petitioners in case SC/FR/Application No. 263/2024. The Supreme Court is expected to address the matter on October 11, 2024. LTL Holdings had previously amended the prospectus on September 08 and September 30, 2024, but the IPO is now on hold until further notice.

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Prioritizing the needs of both professionals and employers, The Association of Chartered Certified Accountants (ACCA) is setting benchmarks in the finance sector, by placing employability at the heart of its mission through its Approved Employer Program. Ruchera Jayawardena Peries, Business Development Manager – Members & Employers at ACCA, emphasized “our mission is to develop highly skilled, globally recognized finance professionals, equipped with the skills employer’s demand. This not only enhances individual careers but also elevates standards across the entire finance profession.’ Elaborating on the ACCA Approved Employer Program, Ruchera stated “this program acknowledges employers that are committed to professional growth and development, where we offer them global recognition and access to valuable resources that enhance their training standards, making them attractive to top finance talent seeking supportive environments to complete their ACCA qualifications. They also enjoy a streamlined Practical Experience Requirement (PER) process, allowing students to bypass the sign-off procedure, which simplifies the path to qualification. Additionally, approved employers gain exclusive access to ACCA resources, including regular updates, training materials, and best practices, helping them stay at the forefront of industry developments. Ruchera explained that to become an ACCA Approved Employer, organizations must commit to staff development, maintain structured training, and adhere to ACCA’s ethical standards. The program offers two recognition categories: Trainee Development (Gold and Platinum levels) for supporting ACCA students and affiliates, and Professional Development for providing ongoing development to ACCA members. Ruchera clarified that the application process is straightforward. “Employers can apply online, submit supporting documents, and we assess their training programs against ACCA’s standards. Once approved, the status is valid for three years.” Successful applicants receive an official certificate, are listed in ACCA’s directory of Approved Employers, and can proudly use the ACCA Approved Employer logo in recruitment and marketing materials. One notable advantage is that ACCA does not charge a fee for the application process. This ensures that employers of all sizes can participate in the program without financial barriers. For ACCA students and members, the benefits are substantial. Ruchera highlighted, “students working for Approved Employers benefit from streamlined processes for completing their Practical Experience Requirements (PER) and receive structured, high-quality training that boosts their career prospects.” With over 7,800 ACCA Approved Employers across 111 countries, the program has received widespread acclaim. “It’s a win-win for both employers and employees, fostering a sustainable talent pool for the finance industry,” noted Ruchera. For companies interested in becoming ACCA Approved Employers, a comprehensive application guide is available. It includes eligibility criteria, application steps, required documentation, and an overview of the approval process.  Employers can access the guide on the ACCA website. Ruchera summed up saying , “The ACCA Approved Employer Program is a critical bridge between employers and our talented finance professionals, ensuring a bright future for the industry.’ The initiative continues to enhance professional development while helping companies secure the talent they need to succeed.   Photo Caption : Ruchera Jayawardena Peries

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President Anura Kumara Dissanayake engaged in a discussion with the International Monetary Fund (IMF) at the Presidential Secretariat today (04), marking the second day of talks with the President. Director of the IMF’s Asia Pacific Department Krishna Srinivasan, Senior Mission Chief Dr. Peter Breuer, along with other senior IMF representatives and the Sri Lankan delegation attended the discussions. President Dissanayake aims to achieve the objectives of the program in partnership with the IMF, seeking alternative approaches that will alleviate the burden on the citizens.

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In celebration of World Children’s Day 2024, NDB Bank hosted a special event at Royal College, Colombo, offering a series of fun and educational activities for students. The day was filled with excitement, creativity, and learning, designed to engage children in meaningful experiences that inspire good habits, financial literacy, and creativity. The day’s festivities catered to two age groups. For students in grades 1-3, the event featured an interactive magic show that captivated the young audience and a session by NDB Bank on cultivating good habits. For grades 4 and 5, the magic show continued to entertain, followed by a lively Q&A session that engaged students on essential life skills and habits. A highlight of the event was the recognition of winners from the art competition that had been organised by the Bank’s curated Children’s Savings account, NDB Shilpa. The competition, which focused on the theme “Let’s Save Good Habits,” encouraged students to reflect on positive values through their artistic creations. Creativity, relevance, and presentation were the criteria for choosing winners; however, all participants were given tokens of appreciation, and the winners were honoured with special gifts and prizes. As part of its dedication to nurturing positive habits in children, NDB Shilpa provides more than just a savings account. Tailored for children, NDB Shilpa offers a suite of benefits, including double interest rates, attractive gift schemes, a free hospitalisation cover, and complimentary life and permanent disability insurance covers for account holders. It encourages a disciplined approach to savings with rewards for achievements in exams like the Grade 5 Scholarship and G.C.E. O/L, creating an engaging and rewarding experience for young savers. Through events like this, NDB Bank seeks to introduce the concept of financial responsibility early on, encouraging children to take small steps toward their future.  

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The 1^st of October celebrates World Children’s Day and Sanasa Life Insurance embarked on yet another initiative. The planting of tree saplings in 100 schools around the country. This initiative was termed as Senehase Haritha Poronduwa  (The green promise of affection). Children are our future, enriching them with the correct ideals that show the importance of preserving and conserving nature is our responsibility. This also translates to protecting the future of our country’, said Mr. Ivan Nicholas, CEO of Sanasa Life Insurance. The importance of providing children with safe and secure future has been an inlaid trait of Sanasa Life Insurance’s ethical functionality. As a responsible organization, Sanasa Life Insurance places great value on World Children’s Day. Sanasa Life Insurance offers a variety of insurance products designed to protect families and their future, and they are proud to support initiatives that celebrate and protect the future of children. Working through the extensive branch network, staff members of Sanasa coordinated this island wide initiative reaching over 100 schools to simultaneously carry out this tree planting campaign commemorating World Children’s Day. Further commenting on the event Mr. Nicholas went on to say instilling positive values in children is a fundamental responsibility of every adult. This initiative, involving grade 1 students, aims to provide them with essential values that will shape their future and inspire the next generation. “We are proud to contribute to a brighter future for Sri Lanka by fostering these values in our youth of the future. Large forests are disappearing at an alarming rate. Plastic toxins, smoke and other man-made pollutants are rapidly on the increase. Ensuring that future generations have a better future cannot be overemphasized. The significance of this tree planting initiative goes beyond symbolism, it embodies what a child can expect for sustainable and healthier future. Simply said, sustainability is everything. Trees are a free and ceaseless source of oxygen. This itself is life on planet Earth. Sustainability relies on this simple but compelling fact”, said Mr. Nicholas summarizing the importance of growing trees. Sustainability is at the core of Sanasa Life Insurance’s business philosophy. As an organization, Sanasa is committed to integrating sustainability into all of its operations. “We extend our sincere thanks to the Sanasa branch network staff who took time off their busy schedules ensuring the successful coordination and implementation of this islandwide project. Our efforts to instil values that align with our organizational ethics will bear fruit far into the future of this country. We remain committed to implementing projects such as this to promote a sustainable and safe environment for future generations”, said Mr. Nicholas in his ending statement.

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Emojot, a global leader in artificial intelligence (AI)-powered customer experience management, has announced a strategic leadership restructuring alongside securing a strategic investment from the United States (US). Both of these initiatives are aimed at accelerating the company’s growth and innovation. Accordingly, Dr. Shahani Markus, a seasoned entrepreneur and technology executive, will assume the role of Chief Executive Officer (CEO) with immediate effect. With a wealth of experience and a deep understanding of customer experience management, she will lead Emojot into its next phase of growth. Andun Liyanagunawardana, a co-founder with a proven track record in engineering and customer success, has been appointed Chief Operating Officer (COO). He will oversee the day-to-day operations, and ensure that the company’s strategic objectives are efficiently executed. Sachintha Ponnamperuma, another co-founder with extensive experience in engineering and research, will now serve as the company’s Chief Technology Officer (CTO). He is tasked with leading the technology team, focusing on developing cutting-edge solutions and driving forward product innovation. Key advantages of the restructuring and investment Emojot recently secured from the US include faster growth and innovation, improved customer experience, a strong leadership team, a focus on AI-driven solutions, and financial backing to expand operations and advance product development. “This leadership transition, combined with the recent investment, marks a significant milestone for Emojot. With a strong leadership team in place and the financial backing to fuel our growth, we will be able to capitalize on new opportunities, deliver exceptional value to our customers, and solidify our position as a global leader in experience management.” said Dr. Marcus. Emojot’s innovative platform helps businesses understand and engage with their customers and employees at a deeper level, driving growth and fostering long-term relationships.

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Richwin Plaza Private Limited and Richwin Investment and Credit Private Limited, part of the same business group, received top awards for their contributions in their respective fields at the Iconic Awards 2024. Richwin Plaza was honoured as The Best Mobile Phone Seller of the Year, while Richwin Investment and Credit took home the award for The Best Emerging Micro Finance Company of the Year. The awards were received by Director / Chief Executive Officer Sampath Niroshana Chandrasiri and Director Shanuka Pradeep at the ceremony held at the BMICH in Colombo. Richwin Plaza has earned a stellar reputation for providing mobile phones and electrical appliances from world-renowned brands such as Apple, Samsung, Nokia, Huawei, LG, Panasonic, Singer, Unic, and Prestige. With branches located in Negombo, Katana, and Ja-ela, customers can easily purchase high-quality products through convenient payment plans, without needing a guarantor or credit card. Richwin Plaza is the only company in Sri Lanka offering easy payment facilities without the need for a credit card. Every product comes with a warranty, ensuring an efficient and reliable after-sale service. Richwin Investment and Credit Private Limited offers a range of financial services, including business and personal loans, loans on land and auto collateral, gold loans, group loans, and loans against check collateral. Their innovative micro-financing solutions, aimed at empowering individuals and business ventures, have been the secret behind their rapid growth in the financial sector within a short period. Customers who invest with Richwin can enjoy a variety of benefits, including monthly or annual income on investments, a recognised contract guarantee, and access to loans on investment. In addition, investors are provided with free life insurance scheme. Having received multiple awards, both locally and internationally, Richwin is aiming to further expand its operations, creating new employment opportunities and continuing to deliver high-quality products and services. For more information, visit their branches in Negombo, Katana, and Jaela, or contact them at 0719848480, 0312230288.

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Sunshine Healthcare Lanka Limited (SHL), the healthcare arm of diversified conglomerate Sunshine Holdings PLC (CSE: SUN), announced the successful conclusion of the approximately LKR 3,270 million equity investment from the International Finance Corporation (IFC), a member of the World Bank Group. This landmark investment strengthens SHL’s vision to expand healthcare accessibility and bolster innovation across Sri Lanka. This investment marks a significant milestone in Sri Lanka’s growth narrative as one of the notable foreign direct equity investments since the economic crisis, signaling the country’s renewed stability and resilience. Private investments like this will be instrumental in driving Sri Lanka’s economic transformation, demonstrating its readiness as a nation for a broader economic recovery. Following the successful completion of this transaction, IFC now holds a 14.73% equity stake in SHL. This strategic partnership will enable SHL to accelerate the execution of key capital projects that aim to reshape healthcare delivery in the country, including significant expansions in manufacturing, and medical devices. SHL is set to significantly expand its pharmaceutical manufacturing capability by doubling its capacity in respiratory products. In parallel, SHL will enhance diagnostic capabilities by investing in state-of-the-art medical devices, providing better access to cutting-edge healthcare technology with enhanced efficiency and productivity. “We are proud to conclude this investment with IFC, underscoring our commitment to nation-building through local and responsible entrepreneurship. This partnership strengthens Sunshine’s role in enhancing healthcare accessibility and contributes to the country’s economic resilience at a critical time. With IFC’s support, we are significantly ramping up local pharmaceutical manufacturing and bolstering our healthcare infrastructure, ensuring all Sri Lankans have access to high-quality, locally produced pharmaceuticals and innovative healthcare solutions. This marks an important step in driving sustainable development and self-reliance in the nation’s healthcare sector,” said Group Chief Executive Officer Shyam Sathasivam. Image caption – IFC Senior Country Officer Victor Antonypillai, IFC Regional Director for South Asia Imad Fakhoury, Sunshine Holdings Group CEO Shyam Sathasivam, IFC Vice President for Asia Pacific Riccardo Puliti, Sunshine Holdings Deputy Vice Chairman Vish Govindasamy, IFC Sri Lanka and Maldives Country Manager Alejandro Alvarez de la Campa, IFC Senior Investment Officer Priyanka Cooray

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