Business
BOC celebrates 84th anniversary, nurturing Sri Lankan economy
Pledges new SME loan scheme of Rs. 5 billion to be disbursed at 12.5% interest rate
Launches BOC ‘Flexi Investor’ account to introduce goals-based investment plan
The Bank of Ceylon (BOC) yesterday celebrated its 84th Anniversary at a ceremony held at the Bank’s Head Office in Colombo.
The event was held with the patronage of the Bank’s Chairman President’s Counsel Ronald C. Perera and General Manager Russel Fonseka.
BOC Chairman President’s Counsel Ronald C. Perera speaking at the event said,” British Governor Sir Andrew Caldecott when he inaugurated BOC on the 1″ of August 1939 had stated that BOC would become the top bank in Sri Lanka and his prediction has become a reality today. BOC is today the number 1 bank in Sri Lanka in terms of its asset base and customer service excellence,” he said.
“Today BOC is a thoroughly modern bank with technology forming the backbone of its operating infrastructure. With the domestic debt optimisation programme easing the pressures on the Bank, we will be able to bring the lending rates further down going forward to boost the economy,” he noted.
The Chairman and the General manager revealed that BOC is in the process of establishing a loan scheme amounting to Rs. 5 billion to be disbursed among SME exporters, viable startups and women-led businesses to take their businesses to the next level.
“A lot of businesses have put their expansion plans on hold due to the pandemic and the economic crisis, so the bank now wants to support them to reignite their plans and put them into action. Each eligible SME entity can receive up to Rs. 25 million through this fund,” they said.
In addition to that, BOC unveiled a novel banking product named “BOC Flexi Investor” account to commemorate its 84 th Anniversary.
“This novel savings account comes with special features that enables the eligible account holder to have a goal-based investment plan to achieve financial goals in the way he or she desires. Flexibility is designed to set their own investment plan based on the goal, tenure and the affordable deposit with a wide range of investment options with attractive interest rates. It also gives the option to open multiple investment plans simultaneously and there will be no penalty for missed deposits,” a BOC spokesman said.
“These novel concepts bank introduces are aimed at assisting customers comprehensively being more responsive to their dynamic needs. Having served the country for 84 years as the leading banking institution rendering an impeccable service to its customers and community, the Bank of Ceylon has further sharpened its capabilities to ready to strive for many years to come,” he said.
Business
Cabinet approves submission of the Annual Economic Analysis of the Central Bank of Sri Lanka for the year 2024 to the Parliament
The Cabinet of Ministers has approved the proposal forwarded by the President in his office as the Minister of Finance, Planning and Economic Development to submit the Report on the Annual Economic Analysis of the Central Bank of Sri Lanka for the year 2024 to the Parliament.
As per section 80 (3) of the Central Bank of Sri Lanka Act No. 16 of 2023, the Minister in – charge of the subject of Finance shall submit a report on the economic situation which prevailed within the particular financial year, within four months after completion of each financial year. Accordingly, the report in relation to the financial review of the Central Bank of Sri Lanka for the year 2024 has been submitted to the President. The report has envisaged macro economic trends of Sri Lanka, situation of the financial system, as well as the major developments and a review of the policies of Central Bank of Sri Lanka.
[DGI]
Gigalingua Lanka, a premier German language institute, officially launched in Colombo with a ribbon-cutting ceremony attended by distinguished guests, including Dr. Felix Neumann, German ambassador to Sri Lanka. This marks a significant milestone for Sri Lankan professionals, especially nurses, looking to expand their careers in Germany’s thriving healthcare sector.
In collaboration with its strategic partner Global Care Solutions (Pvt) Ltd – a renowned company in the foreign recruitment industry – Gigalingua Lanka offers a unique pathway for Sri Lankan nurses and apprentices to master the German language and pursue rewarding career opportunities in Germany.
Dr. Felix Neumann, the Chief Guest at the event, expressed his support for the initiative, emphasizing the importance of language education as a bridge to global career prospects. In his speech, Dr. Neumann noted, “German language is not only a means of communication, it is a gateway to global career opportunities.” He commended Gigalingua Lanka for providing valuable opportunities for Sri Lankans and addressing the critical demand for skilled workers, especially in the nursing sector in Germany.
Gigalingua Lanka is the first private institute in Sri Lanka to offer comprehensive German language training up to the B2 level, and conduct TELC exam. The institution also provides language training for apprentices, allowing them to undertake the Apprenticeship Program and contribute to the growing labor market in Germany. The collaboration between Gigalingua Lanka and Global Care Solutions is designed to meet Germany’s growing need for skilled workers, particularly in the healthcare sector.
The event was attended by a number of prominent figures, including Dr. Felix Neumann , Arthur Senanayake (chairman of IWS Holdings), Eran Wickramaratne – former MP, Chandra Schaffter – ( Founder of Janashakthi Insurance ), Dhammika Attygalle (Director Upali Group of Companies and President Automobile Association of Ceylon) Former Wing Commander Buwaneka Abeysuriya (Ex- chairman Janatha Estates Development Board).
Chairman of Global Care Solutions, Thomas Michael Kriwat, who is also chairman of the Mercmarine Group of Companies in Germany, highlighted the significance of the new training center. He said, “We are bringing world-class German occupational language training to Colombo, offering a structured, career-focused pathway for Sri Lankan professionals. By introducing TELC (The European Language Certificates) as an officially certified German language test authority, we are increasing accessibility for students seeking internationally recognized qualifications.”
At the thanksgiving speech, Dr. Rajan Sara, Managing Director of Global Care Solutions and Director of Gigalingua Lanka, outlined the critical need for foreign nurses in Germany. “Germany is facing a significant shortage of nurses, estimated to need an additional 150,000 by 2025. This is exacerbated by an aging population and increasing healthcare demands. Over 47,000 vacancies in the healthcare sector remain unfilled, making it an ideal time for Sri Lankan nurses to seize this opportunity,” Dr. Sara explained. (Gigalingua Lanka)
In keeping with its vision to consistently evolve and address accelerated business growth needs, Brown & Company PLC recently unveiled its new state-of-the-art manufacturing and warehouse facility in Katunayake. Strategically located within minutes of the Bandaranaike International Airport and the nation’s rapidly evolving highway network, the space is positioned to significantly enhance Browns’ logistical capabilities. The hub will enable seamless access to key markets across the island, further solidifying the Company’s principal role in a cross-section of industries.
The inaugural event of the Browns Group Industrial Park was attended by Ishara Nanayakkara, Chairman, Brown & Company PLC and Deputy Chairman, LOLC Holdings PLC and Kapila Jayawardene, Group Managing Director/CEO, LOLC Holdings PLC along with key officials from the Browns and LOLC Group.
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