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LOLC Finance bags five golds at Technnovation Awards 2022

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LOLC Finance PLC proved its excellence yet again in the digital financing sphere, competing with the country’s prestigious banks and NBFIs to win five top awards.

LOLC Finance was bestowed with the Gold titles for: NBFI of the Year for Financial Inclusivity, NBFI of the Year for Excellence in Customer Convenience, Financial Institution of the Year for Best Digital Payment Strategy, Best Mobile Application for Retail Payments Via Just Pay (Banks and NBFI), Overall Award Excellence in Inter-Bank Digital Payments (NBFI) and a Merit Award for the Most Popular Digital Payment Product (Banks and NBFI-Mobile Payment App).

These achievements by LOLC Finance marks a period during which LOLC revolutionised Sri Lanka’s rapidly growing digital footprint in the recent past, capturing the fin-tech landscape faster than any local financial service provider in the industry. LOLC Finance has risen to be the pioneer in the most innovative digital transformation in Sri Lanka.

The 4th edition of Sri Lanka’s first and the only payment technology innovation awards LankaPay Technnovation Awards by LankaClear was held on 29th March 2022 with the theme of ‘Honouring the Digital Superheroes’. The awards recognise member banks and non-banking financial institutions who have excelled in electronic transactions during a financial year. All submissions for the awards were judged by a committee of esteemed industry experts, based on the level of innovation, impact, dynamism and uniqueness.

LOLC Finance was one of the first financial institutions in Sri Lanka to break into the mobile technology domain with the launch of the LOLC Real Time online portal and the mobile app in 2014 and 2015, respectively. This first move gave the company a strong competitive advantage in the market, which has helped it make further inroads into the mobile technology space via ground-breaking new solutions such as iPay which was launched in 2017.

Commenting on winning awards, Conrad Dias (Director/CEO) of LOLC Finance said, “Winning the awards is not just a recognition of what we have done in digital banking and financial services, it is also a testament to the long term commitment towards transforming financial services to digital, creating customer convenience, trust and confidence. It was our night at the Technnovation awards, bagging the most gold awards at the event. Amidst an adverse global pandemic, we are truly honoured to be the winner of five gold titles. These honours by LOLC Finance will become the hallmarks of excellence in the NBFI sector in Sri Lanka and will improve the inclusive national drive towards transforming the Sri Lankan economy to a cashless podium”.

LOLC Finance was one of the first NBFIs that received the mandate to introduce Foreign Currency Savings accounts and the first NBFI to register for SWIFT transactions in Sri Lanka. In the internet and mobile banking landscape, the company became one of the first NBFIs to connect with the CEFTS. LOLC Finance iPay has now advanced from a mere payment gateway into a beyond lifestyle payment application offering an exceptional service. LOLC Finance is rated (SL) A (Stable) by ICRA Lanka Limited and is licensed by the Monetary Board of the Central Bank of Sri Lanka.



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Attorney At Law S K Sangakkara pasess away

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It is with deep sorrow that we announce the passing of Mr. S. K. Sangakkara, Attorney-at-Law. He was the loving husband of Kumarie, beloved father to Thusharie, Vemindra, Saranga, and Kumar, loved father-in-law to Sanjay, Nipuni, Ru, and Yehali, adored grand father to Thehan, Methvan, Nethya, Vinaya, Kaya, Seth, Kavith and Swyree.

His remains will lie at his residence in Kandy for relatives and friends to pay their last respects. We also ask that the privacy of the family be respected.

The funeral will take place on the 4th of March 2026 at 6.00 p.m. at the Mahaiyawa Cemetery, Kandy. The cortège will leave the residence at 4.30 p.m.

He will be dearly missed by his loving family, friends, colleagues, and all who knew him.

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Socialist Alliance expresses concern over GoSL’s growing military ties with US

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The Socialist Alliance, comprising the Lanka Sama Samaja Party, the Communist Party of Sri Lanka, the Democratic Left Front and the Sri Lanka Mahajana Party, in a statement issued yesterday (02) strongly and unequivocally condemned the US and Israel for killing the Supreme Leader of Iran, Ayatollah Ali Khamenei, and the latest acts of military aggression carried out by those two countries against Teheran.

“These attacks represent a grave violation of international law, an assault on the sovereignty of a United Nations member state, and a threat for uncontrollable conflict, which may escalate into a third World War,” the Socialist Alliance said.

Text of the statement: ‘The Socialist Alliance is alarmed with the growing military contacts between Sri Lanka and United States in evolving geo-political developments in the context of middle – east war and beyond.

“The Socialist Alliance condemns strongly the National People’s Power (NPP) government’s deepening military cooperation with the United States. The recent transfers of US naval and aviation assets and operational integration into US-led commands represent a dangerous abandonment of the country’s longstanding non-aligned foreign policy. It may lead to Sri Lanka being involved in US President Trump’s illegal aggression against Iran.

“According to the Ministry of Defence the United States has now provided a total of four former US Coast Guard cutters and 10 TH-57 Sea Ranger (Bell 206) helicopters to the Sri Lanka Navy (SLN) and Sri Lanka Air Force (SLAF). These acquisitions have transformed Sri Lanka into one of the largest operators of former US Coast Guard vessels in the Indo-Pacific. While the government frames the transfers as enhancing humanitarian assistance and disaster relief capabilities, the vessels’ operational history and specifications are evidence of a darker purposes.

“The two high endurance cutters of the Hamilton class are offshore patrol vessels (OPVs) most suited for deep-sea surveillance and high-seas operations. They are not merely for coastal defense, the type being commonly deployed with US Navy carrier battle groups. They are designed for power projection and are being used to integrate Sri Lanka into U.S. Central Command (CENTCOM) operations in the Middle East.

The operational deployment of these assets has already begun. The Sri Lanka Navy has committed an OPV to the US-led “Operation Prosperity Guardian” in the Red Sea and Gulf of Aden, operating under Combined Task Force 153 (CTF 153). This task force falls under the Combined Maritime Forces (CMF), which is commanded by a US Navy Vice Admiral who simultaneously serves as Commander of U.S. Naval Forces Central Command (NAVCENT) and the US Fifth Fleet, headquartered in Manama, Bahrain.

“This means Sri Lankan naval officers and ships now operate directly under US-led command structures. It provides the US with a Navy that can operate within its command framework, freeing US assets for higher-end missions, effectively making our forces a subordinate component of the American war machine.

“In a significant escalation of this integration, Sri Lanka assumed command of Combined Task Force 154 (CTF 154) in January 2025. This multinational maritime training task force, operating under the US Fifth Fleet, is responsible for training personnel across the Middle East. This is not as a sign of national prestige, but a mechanism that gives the US-led coalition greater legitimacy and deepens Sri Lanka’s entanglement in American strategic objectives.

“This must also be seen in context of the recent signing of a Defence Memorandum of Understanding (MoU) under the State Partnership Programme (SPP) between the Sri Lankan Armed Forces and the Montana National Guard in November 2025, which is a pretext for embedding US military structures within Sri Lanka.

“This is not non-alignment. This is alignment. It is a complete subservience to the US Indo-Pacific strategy, making a mockery of the principles of sovereignty and peaceful coexistence that once defined our foreign policy.

“This alignment with the US poses an immediate danger, Sri Lanka risks being dragged into the illegal US–Israeli aggression against Iran, our long-standing friend.

“The Socialist Alliance calls for,

1. The immediate disassociation of the Government of Sri Lanka and the Armed Forces from the illegal US-Israeli aggression against Iran.

2. The immediate cessation of all joint military operations with US forces, including the withdrawal of Sri Lankan personnel from US-led commands in Bahrain and the Red Sea.

3. A full public disclosure of all agreements, including the India-Sri Lanka defence MoU and the recent US State Partnership Programme agreement, whose contents remain secret.

4. A parliamentary inquiry into whether these military pacts will lead to a full Status of Forces Agreement (SOFA), potentially granting US forces access to Sri Lankan ports, airports, and military infrastructure.

5. A return to a genuine non-aligned foreign policy that serves the interests of the Sri Lankan people, not the geopolitical ambitions of foreign powers.

“The NPP government was elected on a platform of change, yet it is presiding over the most significant erosion of our sovereignty in decades. We call upon all anti-imperialist, patriotic, and democratic forces to unite in opposition to this drift toward war and the surrender of our national independence.”

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FSP proposes self-governing regions, bicameral legislature to address national issue

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Duminda Nagamuwa addressing the gathering

Frontline Socialist Party (FSP) Propaganda Secretary Duminda Nagamuwa has said that establishment of self- governing regions, bicameral legislature consisting of two Houses and recognition of upcountry Tamils as Sri Lankans would be necessary to solve the national issue. Nagamuwa declared that the FSP was ready to spearhead the fight to achieve those objectives.

Nagamuwa, a senior member of the breakaway faction of the JVP, said so at the fourth annual convention of the party held at the Sugathadasa Indoor stadium on Sunday (01). Nagamuwa stressed that a bicameral legislature was necessary to prevent the passage of laws targeting a particular community.

Alleging that the JVP had disregarded the FSP’s advice not to pursue UNP leader Ranil Wickremesinghe’s strategy, Nagamuwa emphasised that the national problem couldn’t be resolved under the present system.

Declaring that daunting challenges couldn’t be addressed by pursuing neo-liberal policies, the FSPer reiterated their commitment to, what he called, a people-centric economic agenda.

At the onset of his speech, Nagamuwa said that the FSP launched political activities, under extremely difficult circumstances, more than one and half decades ago. Referring to the abduction and the disappearance of Lalith Kumar Weeraraja and Kugan Muruganandan, in Jaffna, on Dec, 9, 2011, Nagamuwa said that they wouldn’t give up their struggle, regardless of the continuing threats.

Commenting on its role in the Aragalaya protest that forced President Gotabaya Rajapaksa out of office, in July 2022, Nagamuwa said that the FSP joined the people at a time some declared their inability to participate in a leaderless campaign. Nagamuwa was referring to the JVP’s initial reaction to the protest campaign. According to Nagamuwa, Ranil Wickremesinghe, having received the presidency through illegal means, sought to proscribe the FSP as he resented their role in Aragalaya.

Nagamuwa also found fault with the JVP for backing Maithripala Sirisena’s candidature at the 2015 presidential election. The ex-JVPer said that his former party simply joined the group that declared that Sirisena’s victory would pave the way for the abolition of the executive presidency. The FSP Propaganda Secretary accused Anura Kumara Dissanayake of following Wickremesinghe’s harmful IMF policy that may cause significant damage to the EPF and ETF funds.

The FSP also attacked the JVP-led NPP government over the ongoing moves to introduce a new anti-terrorism law, in place of the Prevention of Terrorism Act (PTA). That move was meant to suppress democratic rights of the people and right to dissent, Nagamuwa said, while questioning, what he called, the incumbent government’s undisclosed agreements with the US and India. Nagamuwa also pointed out that those who campaigned on an anti-corruption platform were now struggling to cope up with such accusations regarding the coal procurement deal.

Nagamuwa said that either the government should take tangible measures against corruption or the crooks will take hold of the current dispensation. Anti-corruption actions wouldn’t be on political platform at any future election, Nagamuwa predicted.

Nagamuwa said that the NPP had been fragmented and it was only a question of time the current dispensation faced public protests over its policies, particularly giving in to IMF demands and India. The SJB’s Sajith Premadasa and SLPP’s Namal Rajapaksa couldn’t fill the political vacuum caused by the disintegration of the NPP, Nagamuwa said that their move was to empower the people.

Nagamuwa said that those who propagated racism to grab power couldn’t succeed again. According to him such projects couldn’t achieve political objectives, Nagamuwa said while referring to several incidents, including the burning of the Jaffna library and violence in Darga town.

By Shamindra Ferdinando

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