Mr. N.A. Umagiliya was appointed as the Chairman, Bank of Ceylon. He has assumed office on Monday 19th November 2018 as the 25th Chairman of Bank of Ceylon. Mr. Umagiliya is a Fellow Member of the Institute of Chartered Management Accountants, United Kingdom and a Member of the British Institute of Management. Mr. Umagiliya is…
The 22nd Annual General Meeting of the Asia-Pacific Central Securities Depository Group (ACG) hosted by Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), commenced today in Colombo with delegates from 25 depositories and clearing organizations in participation. The event breaks new ground for the Sri Lankan capital…
HNB’s Managing Director and CEO, Jonathan Alles was elected Chair of the Asian Bankers Association by its board of directors, at the conclusion of their 35th Annual General Meeting and Conference, held at Kurumba resort in the Maldives, a position he will hold for the two year period 2018 to 2020. Alles takes over the…
Issuance of a New Circulation Standard Coin Series The Central Bank of Sri Lanka (CBSL) issued a new series of circulation coins with face value of Rs.10, Rs.5, Rs.2 and Re.1 with objectives of reducing the cost of coins minting, increasing the durability of coins, giving more portability and identifying easily by visually impaired people. The first…
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, partnered China’s leading third-party online payment solution, Alipay, to extend the eZ Cash platform to Chinese tourists in Sri Lanka. Through its first partnership in Sri Lanka, Alipay intends to expand reach by leveraging Dialog’s multiple merchants and touchpoints, extending payment services to Chinese visitors in Sri…
Ceylinco Life Insurance Limited (Ceylinco Life) has announced the appointment of career banker Jegan Durairatnam to its Board as an Independent Non-Executive Director with effect from 14th November 2018. Mr Durairatnam recently retired as Managing Director and CEO of Commercial Bank of Ceylon after a distinguished 36-year career with Sri Lanka’s benchmark private bank,…
Sri Lanka’s financial market regulator Central Bank of Sri Lanka recently requested from Colombo Stock Exchange (CSE) to request listed companies to pay dividends through electronic means and stop issuing paper cheques. Central Bank Governor Indrajit Coomaraswamy addressing Asia-Pacific forum of central depositories in Colombo said that “We encourage and request the CSE to consider…
The Colombo Chief Magistrate’s Court on yesterday convicted Sri Lanka’s largest state owned savings giant, the National Savings Bank’s (NSBs) former Chairman and the husband of former Chief Justice Shirani Bandaranaike – Pradeep Kariyawasam for illegally allowing the purchase of overvalued shares of once the largest finance company in the country – The Finance Company…
Reuters – The Sri Lankan rupee hit yet another record low against the dollar on Monday due to concerns over political uncertainty dragging the island nation’s economy, after Moody’s downgrade of the country’s credit rating and IMF halting a loan discussion. The rupee fell to an all-time low at 180.40 against the dollar, compared with…
The Rabobank of Netherlands has agreed to provide Euro 52.1 Million financial assistance to construct approximately 250 steel bridges island wide especially in the rural areas. Mr. S R Attygalle, Secretary to the Ministry of Finance and Economic Affairs signed this Credit Facility Agreement today on 26th November at the Ministry of Finance. The Government…
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