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ComBank and Mastercard launch Sri Lanka’s first Dynamic Currency Conversion for online payments

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Sanath Manatunge, Managing Director and CEO of Commercial Bank and Sandun Hapugoda, Country Manager, Sri Lanka and Maldives of Mastercard

As part of Commercial Bank of Ceylon’s sustained efforts to strengthen tourism-related businesses and improve convenience for foreign travellers, the Bank has partnered with Mastercard to introduce Sri Lanka’s first Dynamic Currency Conversion (DCC) capability for online payments, marking a significant milestone in the country’s digital payments landscape.

Enabled via the Mastercard Payment Gateway Services (MPGS) platform, the new DCC feature allows international cardholders making online purchases from Sri Lankan merchants and to pay in their home currency at checkout.

This first-of-its-kind capability for online payments in Sri Lanka is designed to help local merchants grow their business by making it easier for foreign travellers to book and pay online with confidence. By enabling Mastercard Payment Gateway Services (MPGS) with Dynamic Currency Conversion (DCC), Sri Lankan merchants, particularly in travel, hospitality and leisure can offer overseas customers a more transparent checkout experience when making reservations for flights, accommodation and related services.

DCC offers foreign cardholders the option to view and confirm the final transaction amount in their home currency before completing an online purchase, rather than being charged in Sri Lankan Rupees. The exchange rate and any associated fees are displayed upfront and processed in real time, removing uncertainty caused by fluctuating exchange rates or unexpected charges after the transaction is completed.

The solution is delivered in collaboration with global DCC provider FEXCO, with Euronet Worldwide providing the advanced switching and processing infrastructure that supports real-time currency conversion, transaction processing, clearing and settlement. Together, the partners enable a seamless, transparent and secure payment experience for cross-border online transactions, extending a capability that Commercial Bank has successfully offered for point-of-sale and in-store payments since 2019, into the fast-growing e-commerce space.

Commenting on this latest milestone, Sanath Manatunge, Managing Director/CEO of Commercial Bank said: “We have always been at the forefront of digital innovation, and introducing Sri Lanka’s first Dynamic Currency Conversion service for the Mastercard Payment Gateway is a testament to our commitment to merchants and the national economy. This collaboration with Mastercard enables us to offer our merchant base a competitive advantage, a new revenue stream, and a world-class payment experience that is transparent and convenient for every international shopper. This is a crucial step in supporting Sri Lanka’s drive to attract more digital foreign revenue and promote tourism.”

Sandun Hapugoda, Country Manager, Sri Lanka and Maldives at Mastercard, said: “Mastercard congratulates Commercial Bank of Ceylon for pioneering this milestone. The introduction of DCC brings global payment best practices to Sri Lanka, empowering international cardholders with choice and transparency when making payments. The bank has fully leveraged MPGS capabilities, including advanced features like Transaction Risk Management (TRM). MPGS serves as a versatile solution for merchants of all sizes, from small businesses to complex models such as payment aggregators and facilitators. This achievement is the result of seamless collaboration and technology integration with partners like FEXCO and Euronet, making this much-needed solution a reality for the market.”

The launch of DCC for online payments further reinforces Commercial Bank’s leadership in digital payments. The Bank was the first local bank to introduce MPGS in Sri Lanka in 2007 and today supports a large and diverse merchant base with the ability to accept online payments globally. Commercial Bank currently facilitates multi-currency transactions in more than 10 international currencies and provides built-in fraud monitoring within MPGS to ensure high standards of security and trust for merchants and customers alike.

By extending DCC to online payments, the Bank enables Sri Lankan merchants to deliver a world-class checkout experience comparable to global e-commerce standards, while giving international customers clarity over costs and greater control over how they pay.

The first Sri Lankan bank with a market capitalisation exceeding US$ 1 Bn., Commercial Bank was also the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest Tier I capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.

Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.



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Business, healthcare and civic leadership unite to drive Sri Lanka’s fight against cervical cancer

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Dr. Nadija Herath addressing the gathering at Dilmah Genesis

In a powerful demonstration of how responsible business, public healthcare and civic leadership can work together for national good, Sri Lanka this week renewed its commitment to eliminating cervical cancer through an expanded screening programme backed by corporate funding, Rotary leadership and the Ministry of Health.

The initiative, supported by Dilmah, the Rotary Club of Colombo, the Family Health Bureau and the Sri Lanka Cancer Society, aims to strengthen nationwide HPV DNA screening, public awareness and prevention efforts at a time when cervical cancer continues to claim hundreds of lives annually despite being one of the most preventable forms of cancer.

Dilmah Chairman/CEO Dilhan C. Fernando said the programme reflects the values of his late father, Merrill J. Fernando, who believed companies exist not merely to generate profit, but to create lasting value for society.

He added:”Businesses do not exist to make profit. Businesses exist to create value. Value begins with people and livelihoods, continues through nature, and only then earns the right to secure economic value.”

Fernando announced a fresh commitment of Rs. 50 million this year, which will fund 20,160 screenings, following an earlier Rs. 75 million pledge made in January 2024 under a Memorandum of Understanding signed with the Ministry of Health and Rotary.

“That value may seem like a big number, but it is insignificant when you consider that it has saved thousands of women from the scourge of cancer,” he said.

He described the continued deaths from a preventable disease as deeply troubling.

“Learning that so many women were losing their lives annually to cervical cancer was something really quite abhorrent to us,” Fernando said.

Representing the Rotary Club of Colombo, K.R. Ravindran said the campaign is proof that strategic partnerships can change national health outcomes.

“This is not a discussion. This is a promise of early detection,” Ravindran said. “Cancer, especially cervical cancer, does not arrive with a bell ringing or a warning. It whispers, and so often by the time it is heard, it is too late.”

He said Rotary’s own experience operating early detection centres for breast, cervical and oral cancer had shown the life-saving value of screening.

“Early detection is not just saving lives. It transforms fear into hope, into possibility,” he said.

Ravindran noted that Sri Lanka’s economic crisis had once threatened to halt testing services because of shortages in funding for diagnostic kits, but private sector intervention prevented disruption.

“Without the money, the whole thing would have gone awry. That is when Dilmah stepped in,” he said.

“They did something far greater than simply giving money. They made scale possible. They made continuation possible. They made impact possible.”

Ravindran expressed confidence that Sri Lanka can become one of the first countries in the world to eliminate cervical cancer as a public health threat by 2030, citing the nation’s literacy, public health network, school vaccination system and midwife service.

“I think this country can become one of the first countries to be rid of this disease,” he said.

Consultant Community Physician Dr. Nadija Herath of the Family Health Bureau said cervical cancer is caused mainly by persistent infection with the Human Papillomavirus (HPV), but can be prevented through vaccination and early detection.

She said Sri Lanka’s Well Woman Clinic programme, launched in 1996, screens women primarily in the 35 and 45 age groups, and is now expanding the use of HPV DNA testing, which is more accurate than conventional cytology methods.

“The most important thing about this cancer is that it is preventable,” Dr. Herath said. “If pre-cancerous changes are identified early, they can be fully treated and women can live normal lives.”

She said new funding would also support outreach clinics, especially in workplaces and underserved areas.

President of the Sri Lanka Cancer Society Anoja Karunaratne said awareness remains a major challenge, with stigma and fear discouraging many women from seeking screening.

“We need to take this message beyond hospitals and clinics—into schools, workplaces, religious institutions and community groups,” she said.

She stressed that women should view screening as a routine part of healthcare rather than something to fear.

Speakers at the event said the collaboration stands as a model for corporate Sri Lanka, showing how businesses can contribute meaningfully to national wellbeing.

Fernando praised Sri Lanka’s healthcare system for continuing to innovate despite adversity.

“Whatever anyone may say about systems or governance, the fact is Sri Lanka’s healthcare system has an enviable track record,” he said.

By Ifham Nizam

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Seylan Bank reports PAT of LKR 2.91 Bn in Q1 – 2026

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The Bank recorded a Profit Before Income Tax (PBT) of LKR 4,548 Mn in Q1 2026, against LKR 4,199 Mn reflecting a growth of 8.31%.

For the three months ended 31st March 2026, Profit after Tax recorded by Seylan Bank was LKR 2,906 Mn with a growth of 5.25% against LKR 2,761 Mn recorded in the corresponding period of 2025.

Statement of Financial Performance

Net interest income increased from LKR 8,587 Mn to LKR 9,734 Mn, an increase of 13.37% over the previous year for the 3 months ended 31st March 2026 mainly due to the significant growth in bank’s assets base over the last 12 months from LKR 785 Bn as end of Q1 2025 to LKR 943 Bn as at 31st March 2026. The Bank’s Net Interest Margin (NIM) also moderated from 4.50% in 2025 to 4.23% during Q1 2026.

Meanwhile, the Bank’s net fee-based income recorded a growth of 24.04%, increasing from LKR 1,863 Mn to LKR 2,311 Mn, primarily driven by fee income from Cards, Remittances, Trade, and other financial services.

Other income captions comprising of net gains / losses from trading, net gains from derecognition of financial assets and net other operating income, reflected a reduction mainly due to decline in mark to market gains from government securities and equity investments with the prevailing market interest rates and price movements, however exchange income showed an increase, due to higher forex trade volumes.

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The power of soft skills: Transforming students into future leaders with SLIIT Soft Skills+ 2026

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The soft skills development program is a major project carried out under its Corporate Social Responsibility (CSR) agenda, by the SLIIT Business School. This program, intended to go beyond typical classroom instruction, focuses on giving school going students the fundamental life skills they need to thrive in a world that is becoming more competitive and dynamic.

The program, which is intended for students in Grades 11 through 13, is open to participation from schools under the Sri Lankan government, private, and foreign institutions. The inclusive process ensures that students from different educational backgrounds have equal opportunities to improve their personal and professional competencies by enrolling for the program.

The initiative’s main goal is to close the knowledge gap between academia and real-world application. In addition to encouraging creativity, innovation, and an optimistic outlook, it places a strong emphasis on the development of vital soft skills like problem-solving, collaboration, and communication. By using this strategy, the program hopes to develop well-rounded, future-ready people who can overcome obstacles in the real world.

The preliminary stage and the Grand Finale are the two primary phases of the Soft Skills+ 2026 program. The program starts with an online teacher training workshop on April 28, 2026. In order to ensure long-term impact and sustainability, this recently added component focuses on improving instructors’ capacity to mentor and support students in the development of soft skills.

The preliminary rounds will be held virtually on May 9, 2026, across three regions: Malabe, Kandy, and Matara. These sessions include competitions focused on activities, quiz-based evaluations, and interactive workshops on soft skills. All exercises and questions are presented in Sinhala, Tamil, and English to encourage inclusivity, enabling students to participate in their favorite language with ease.

The top 50 teams from the preliminary stages will move on to the Grand Finale, which will take place at the SLIIT Malabe Campus on May 16, 2026. In order to ensure fairness and transparency, this final round will include advanced competition rounds and through evaluations carried out by a team of experienced and knowledgeable jury panel.

Certificates will be given to all participants, including instructors and children, and special gifts will be given to the finalists. In recognition of their exceptional performance and commitment, winning teams will also receive monetary awards.

With 50 teams participating in the grand finale and strong representation from across the island, the 2025 program demonstrated its growing impact. Last year’s winner was from St. Servatius College, Matara while Sivali Central College in Rathnapura was the runner-up.

This program, which has received official Ministry of Education clearance, is a nationally recognized platform that supports educational goals and continues to mold future leaders. For more details contact Mr. Ranitha Weerarathna, Senior Lecturer – SLIIT Business School via Tel – (+ 94) 0776503079 / 0764403664 or Email – ranitha.w@sliit.lk

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