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A step forward in the Sri Lankan Life Insurance industry with the Amana Takaful Life Insurance Gold Fund

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COVID-19 continues to crush lives, livelihoods and hopes of a world that looked forward to a new decade. The increase in mortality risk and significant uncertainty has awakened the public’s need for life insurance and has shown that the prospect of leaving loved ones behind without adequate financial support is no longer a low-probable event. The enormity of its effects on the life and health insurance industry alone is expected to linger for years after the pandemic has ended.

As people turn to life insurance to create wealth, combat uncertainty and secure the future they envision for themselves and their families, the response from the life insurance industry has been slow and far from revolutionary; its access still limited, and benefits still mediocre. Taking matters into our own hands, we at Amana Takaful Insurance have leveraged on our customer-centricity with a much-awaited insurance policy that caters to everyone; from all walks of life.

For the first time in Sri Lanka, we at Amana Takaful Life Insurance are offering customizable life insurance plans, with a Gold Fund; a step forward in the life insurance industry of Sri Lanka. With a wide range of investment strategies, the Amana Takaful Life Insurance Policy can be tailor-made to perfectly suit your own financial objectives and risk tolerance. Whether you are a risk-taker who wants to seize the moment and jump on a potential opportunity; or someone who prefers more stability, planning and calculated decision-making, be rest assured we have the ideal fund option for you to utilize the investment component of your insurance premium. Our insurance plan allows your humble investments of today to grow considerably larger with time – of your own accord.

Raising the bar for life insurance even further, our Gold Fund allows the investment component of your premium to be invested in gold; providing significant protection against the effects of inflation and economic cyclical fluctuations. With our Gold Fund, you can even choose to walk away with gold bars at maturity, or its cash equivalent, securing it for generations to come; a revolutionary feature we provide for our revered clients. Serving the dual benefits of, the protection provided by an insurance cover, coupled with long-term returns on your investments, it’s up to you to decide how much you invest. And if circumstances change, you can modify your investment strategy at any time you want.

Amana Takaful Life Insurance Policies are products of our commitment and long-held values to making financial products and life insurance accessible to everyone, and we are proud to share the meaningful step we’ve taken in that direction. We beg to differ in an industry that gave rise to the adage “Life insurance is sold, not bought.” With us, you can be rest assured that we have your best interests in mind always. With us, you can overcome the uncertainty of tomorrow with a protection element that will shield your loved ones against unexpected financial difficulties.



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CB Governor underscores rating agencies’ critical role in post-debt restructuring recovery

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Central Bank Governor, Dr. Nandalal Weerasinghe at the Global Sovereign Debt Roundtable in Washington DC

Sri Lanka’s Central Bank Governor, Dr. Nandalal Weerasinghe, has underscored the critical role of sovereign credit rating agencies in helping debt-distressed nations smoothly transition out of default status after successful debt restructuring.

Speaking at the Global Sovereign Debt Roundtable (GSDR) in Washington DC on the sidelines of the IMF and World Bank Spring Meetings, Dr. Weerasinghe shared Sri Lanka’s ongoing debt restructuring experience.

He highlighted that while restructuring is a crucial step toward economic recovery, rating agencies must play a proactive role in reassessing countries’ creditworthiness fairly and promptly once restructuring is completed.

The GSDR, co-chaired by the IMF, World Bank, and G20 Presidency, serves as a key platform for debtor nations and creditors to address debt challenges.

Sri Lanka, a country which has undergone complex debt negotiations, has been an active participant in these discussions.

Governor Weerasinghe’s remarks come at a pivotal time, as Sri Lanka seeks to restore international investor confidence post-restructuring.

His call aligns with broader discussions at the GSDR on improving coordination between debtors, creditors, and financial institutions to ensure sustainable debt solutions, and help restore international investor confidence in countries such as Sri Lanka.

The roundtable also highlighted the newly introduced Sovereign Debt Restructuring Playbook, designed to guide countries through restructuring processes.

The Central Bank’s push for more responsive and supportive rating agency policies could set an important precedent for other debt-distressed economies as well.

Speaking at the GSDR, Treasury Secretary K M M Siriwardana acknowledged the International Monetary Fund (IMF) as instrumental in stabilising Sri Lanka’s crisis-hit economy, as the country prepares to receive its fifth IMF tranche of $344 million in the coming weeks.

Siriwardana reflected on Sri Lanka’s ‘extremely challenging journey’ since its 2022 economic collapse marked by severe shortages, public unrest, and a loss of confidence in governance.

“Seeking IMF support was a strength, not a weakness,” he asserted, crediting the Fund’s policy framework and technical assistance for reversing the economic freefall.

He highlighted over 200 IMF training programmes conducted to strengthen institutional capacity, stating, “The IMF laid the foundation for stability.”

Notably present at the discussion was Peter Brewer, the IMF’s former Senior Mission Chief for Sri Lanka, underscoring the close collaboration between Sri Lanka and the Fund.

Siriwardana traced the roots of the crisis to political instability between 2017–2019, the 2019 Easter attacks, and contentious tax policies, which collectively deepened Sri Lanka’s economic vulnerabilities. “Yet,” he noted, “Difficult reforms are now yielding positive results.”

By Sanath Nanayakkare

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Calcey earns ISO 27001 certification, strengthening data security commitment

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Sudheera Perera (General Manager, Cal cey) and Manjula Tilakarathne (Chief Operating Officer, Calce y), receiving the certificate of compliance for ISO 27001:2013

Calcey, a global software services provider, has achieved ISO 27001:2013 certification, the international benchmark for Information Security Management Systems (ISMS). This certification highlights Calcey’s strong measures in safeguarding client data and managing security risks.

The rigorous audit covered Calcey’s security protocols, risk management, and operational processes across its offices in Singapore, Sri Lanka, and the U.S.

Mangala Karunaratne, CEO of Calcey Technologies, stated that this milestone underscores their dedication to top-tier data security, reinforcing trust among clients in the U.S., Europe, and the Nordic regions.

The certification ensures compliance with global security standards, benefiting Calcey’s diverse clientele, from startups to large enterprises.

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HNB Assurance recognised as a ‘Company with Great Managers’ for 3rd consecutive year

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HNB Assurance’s Great Manager Award Winners 2024

HNB Assurance PLC (HNBA) has been honored as a ‘Company with Great Managers’ for the third consecutive year at the prestigious Great Manager Awards 2024, organized by the Colombo Leadership Academy.

This year, seven distinguished HNBA managers received individual accolades for their outstanding leadership and contributions: Deepal Punchihewa (SBU Head), Rukshan Wijesinghe (Senior Manager – Underwriting, Group Life & DTA), Niranjan Croos (Senior Manager – Customer Experience), D. P. S. Anuranga Peiris (Software Architect), Asanka Gonagala (Manager – Alternate Channels), Vinu Jayasuriya (Senior Manager – Finance), Amaz Irshad (Senior Manager – Marketing, Digital & PR)

This recognition underscores HNBA’s robust leadership development framework and its commitment to fostering future-ready leaders who drive innovation and excellence across the organization.

Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance PLC, remarked:

“Great companies are built by great leaders. This third consecutive recognition reaffirms our investment in cultivating exceptional talent. I commend our award-winning managers for their dedication to inspiring teams and delivering outstanding results. My gratitude also extends to the Colombo Leadership Academy for this esteemed honor.”

Navin Rupasinghe, Head of Human Resources at HNB Assurance, added:

“At HNBA, we empower leaders to drive impact with purpose. This accolade reflects our strategic focus on talent development and fostering a growth mindset. Congratulations to our managers for exemplifying these values daily, and we thank the Colombo Leadership Academy for this recognition.”

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