Business

ComBank partners with National Science Foundation to enhance STEM education

Published

4 years ago

2023/01/14

The Commercial Bank of Ceylon has announced a partnership with the National Science Foundation (NSF) to further enhance the Bank’s science, technology, engineering, and mathematics (STEM) education projects and the delivery of STEM education to selected underperforming schools in Sri Lanka.

This initiative in collaboration with the Ministry of Education comes a year after the Bank supported the establishment of 100 STEM smart classrooms island-wide to deliver digitised educational content. Under the MoU signed with NSF, the Bank’s CSR Trust will provide a list of schools to implement STEM projects and deliver logistical support to launch the STEM programme and carry out impact assessments.

Recognising the rapid advancements in technology globally and the increasing demand for skilled professionals in the STEM fields, the Bank said its CSR Trust chose to implement this project to prioritise STEM education in the local education system.

For its part, the NSF will recommend schools deserving of STEM education support, assist the Bank in selecting and evaluating education projects which would yield impact at national level, assist the Bank to design the training programme, and perform impact assessments after the implementation of the STEM programme.

Both parties will identify and implement interventions to address specific requirements of selected schools chosen for the programme, among their other responsibilities listed in the agreement.

Commenting on this latest STEM education programme, Commercial Bank Chief Financial Officer Mr Nandika Buddhipala said: “The Bank decided to expand its efforts in the field of STEM education because this will help prepare students for the jobs of the future. Many of the fastest-growing and highest-paying jobs in the modern economy are in STEM fields such as computer science, engineering, and data analysis. By providing students with a strong foundation in these subjects, we can ensure that the next generation of Sri Lanka is well-equipped to succeed in careers that are in demand.”

He added that by partnering with a reputed government institution such as the NSF which is mandated to serve and strengthen the science and technology sectors in Sri Lanka, the Bank will be able to benefit from the expertise it offers to further develop its STEM projects for the benefit of a larger group.

STEM education helps foster critical thinking and problem-solving skills. By teaching students how to analyse data, design experiments, and solve complex problems, STEM education helps to equip them with the skills necessary to succeed in any field. In addition to preparing students for future careers and fostering critical thinking skills, the STEM education programme can also help promote innovation and drive economic growth in the country, the Bank said.

Commercial Bank’s largest commitment in the sphere of corporate social responsibility is to digital technology education in Sri Lanka. In September 2022, the Bank donated its 250th IT lab under its flagship community initiative to take digital literacy to even the most rural towns in the country. It was also a key partner in the national Smart Schools initiative where 165 schools were equipped with digital learning facilities. The Bank’s “Sipnena” online portal contains digitized school curriculum content, complete with practical videos and presentations to facilitate easy learning for students.

The National Science Foundation of Sri Lanka was established in 1998 as the successor to the Natural Resources Energy & Science Authority (NARESA) of Sri Lanka established in 1981. It facilitates research, development and innovation to create a knowledge economy. NSF is also engaged in capacity building, infrastructure development, technology transfer, knowledge creation and sharing in all fields of science and technology to improve the quality of life.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 12 years consecutively, Commercial Bank operates a network of 269 branches and 943 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.

Commercial Bank’s Chief Financial Officer Mr Nandika Buddhipala and National Science Foundation Director General Dr Sepalika Sudasinghe exchange the agreement in the presence of (from right) National Science Foundation Chairman Prof. Ranjith Senaratne and Commercial Bank’s Senior Manager – Sustainability, Women Banking & CSR Mrs Kamalini Ellawala and representatives of the two organisations.

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Business

HNB Finance strengthens Board with four independent directors

Published

12 hours ago

2026/09/13

Thilina Walpola

Newly appointed HNB FINANCE PLC Independent Non- Executive Directors (from left): Renuke Wijayawardhane, Shanti Gnanapragasam, Nabiha Mohamed and Dr. Thisuri Wanniarachchi

HNB FINANCE PLC has strengthened its Board with the appointment of four Independent Non-Executive Directors, effective September 8, 2026.

The new directors are Renuke Wijayawardhane, Shanti Gnanapragasam, Nabiha Mohamed and Dr. Thisuri Wanniarachchi, who collectively bring extensive experience in financial regulation, banking, risk management, corporate finance, investment strategy, development finance and public policy.

Wijayawardhane, an Attorney-at-Law and capital market professional, retired in July 2025 as Chief Regulatory Officer of the Colombo Stock Exchange after more than 31 years with the Exchange. His experience covers securities regulation, corporate governance, market infrastructure and compliance.

Gnanapragasam has over four decades of banking experience spanning treasury, risk management, credit and trade finance. She currently serves as an Independent Non-Executive Director of Cargills Bank, Wealth Trust and Vision Fund Lanka.

Mohamed is a corporate finance and investment professional who previously served as Lead Transaction Advisor at the State-Owned Enterprise Restructuring Unit of the Ministry of Finance, where she led five divestiture transactions worth over US$600 million.

Dr. Wanniarachchi brings over a decade of experience in development finance, institutional reform and social protection, including work with the World Bank and the Government of Sri Lanka.

Business

Prime Residencies hands over The Palace Gampaha

Published

12 hours ago

2026/09/13

Thilina Walpola

Prime Group Chairman Premalal Brahmanage speaking at the event

Prime Lands Residencies PLC has completed and officially handed over The Palace Gampaha, described as the largest planned gated residential community in Gampaha, to its homeowners.

The development, which commenced construction in 2021, is located two kilometres from Gampaha town and 100 metres from the Colombo-Kandy main road.

Spread across 13.5 acres, The Palace Gampaha comprises 480 two- and three-bedroom apartments in a ground-plus-three-floor development, with prices starting from Rs. 27.5 million.

The project allocates about 80% of its land to landscaped areas and common facilities, while the remaining 20% is used for apartment development. Facilities include a swimming pool, gymnasium, clubhouse, library, community kitchen, laundry, mini-mart and a daycare centre managed by the Lyceum Group.

The fully gated community also incorporates solar power for common areas, underground electricity cabling and a sewage treatment plant with water recycling facilities.

Prime Residencies said all statutory approvals required for the handover had been secured, including certifications from the Condominium Management Authority and registration of the Condominium Plan and Deed of Declaration.

Prime Group Chairman Premalal Brahmanage said the project reflected the company’s vision of creating large-scale residential communities designed to enhance the quality of life of Sri Lankan families.

The project is the latest addition to Prime Group’s portfolio of more than 70 gated community and apartment developments.

Business

SLANA warns NVOCC business losing ground amid THC concerns

Published

12 hours ago

2026/09/13

Thilina Walpola

SLANA Chairperson Swabha Wickramasinghe presenting a memento to Minister of Ports and Civil Aviation Anura Karunathilaka at the eventually

Sri Lanka’s Non-Vessel Operating Common Carrier (NVOCC) sector is losing ground despite the expansion of the industry in several regional markets, Sri Lanka Association of NVOCC Agents (SLANA) Chairperson Swabha Wickramasinghe said.

Wickramasinghe, re-elected for a third consecutive term at SLANA’s ninth Annual General Meeting last week said the continued difficulty in collecting Colombo Terminal Handling Charges (THC) as a separate land-based cost was among the key challenges facing the industry.

She said the practice placed Sri Lanka at a competitive disadvantage as principals consider the overall economics of operating through Colombo.

“When Sri Lanka becomes less commercially attractive compared with other regional destinations, the consequences eventually reach our members,” she said.

Wickramasinghe said a committee had been proposed at a recent meeting with the Minister and Deputy Minister to evaluate the THC issue, urging the authorities to expedite its appointment and review.

She also called for an early solution to the problem of uncleared salt containers at the Port of Colombo, which has resulted in delays in releasing empty containers.

With more than 75 NVOCC lines operating in Sri Lanka, she stressed the sector’s importance to regional trade, particularly links with India and China.

Ports Minister Anura Karunathilaka said Sri Lanka should expand regional business while exploring areas such as bunkering, freight forwarding and e-commerce logistics.