Business
ComBank Digital wins AFTA award for ‘Best Frictionless Credit Evaluation Initiative’
A facility provided by the Commercial Bank of Ceylon for personal loans to be applied for online, has been adjudged the ‘Best Frictionless Credit Evaluation Initiative’ in Sri Lanka by the Asian FinTech Academy (AFTA).
The award was presented to the Bank at the ‘Asian Digital Finance Forum and Awards’ at the Hilton Colombo recently, in recognition of the strides made by ComBank Digital, the Bank’s single omni-channel digital banking platform, to improve the digital banking experience for customers with enhanced functionality, convenience and security.
The Personal Loan Request feature on ComBank Digital makes it possible for customers to request a personal loan without visiting a bank branch. All correspondence is conducted via the online platform, eliminating paperwork and there by promoting eco-friendly practices in addition to enhancing convenience.
“We are delighted to win this award, which reaffirms the success of our efforts to provide frictionless access to services as part of our digital transformation,” Commercial Bank’s Head of Retail Products and Digital Channels Mr Pradeep Banduwansa said. “We are constantly looking to push the boundaries in terms of functionality, without compromising security and user-friendliness. Many exciting new features are in the pipeline for ComBank Digital users.”
One of the top five financial apps in use in Sri Lanka, ‘ComBank Digital’ was launched in 2020, is fully compatible with iOS, Android and Huawei operating systems, and complies with international standards and best practices adopted to provide utmost user security. The platform provides seamless transitions across all devices including desktop computers, tablet computers and mobile phones for ComBank Digital Customers. Anyone with a Commercial Bank account can self-register online for this facility, and enjoy its features, which include opening new accounts and applying for loans without visiting a branch.
ComBank Digital is designed to enable users to manage their finances swiftly and securely on the go with a range of built-in options that allow them to self-manage their digital banking preferences on their own without the assistance of a bank agent. Standard services such as checking balances of current, savings, investment, loan, and credit card accounts, applying for Fixed Deposits, Personal Loans and Housing Loans, investing in Treasury Bills and effecting payments for share trading can be carried out securely via ComBank Digital.
Additionally, ‘ComBank Digital’ effects all transactions between own accounts, to third-party Commercial Bank accounts and to accounts in other banks on a real-time basis, and customers can request for a credit card cash advance facility via the platform. ‘ComBank Digital’ also supports bill payments to more than 68 entities in nine categories such as Telephone, Electricity, Water, Credit Cards, Insurance, Pay TV, Education, Schools and Rates.
For those in business, ComBank Digital has enabled payments to government authorities such as the Inland Revenue Department (IRD), Sri Lanka Ports Authority (SLPA) for cargo, vessel, and entry permit payments, Sri Lanka Customs, Employees Provident Fund (EPF), Employees Trust Fund (ETF), Import and Export Control Department (IECD) and the Board of Investment of Sri Lanka (BOI).
Commercial Bank’s achievements in the development and deployment of IT-enabled banking services and products have been recognised with multiple awards, including most recently, Best Digital Transformation in Banking’ and ‘Best Mobile Banking Application’ from Business Tabloid Magazine, a leading business magazine of the UK; Best Digital Banking – Sri Lanka 2021 from Global Economics magazine, UK; and the Banking and Financial Services Category Award presented by the Sri Lanka Association for Software Services Companies (SLASSCOM) for its case study on robotic process automation (RPA).
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 11 years consecutively, Commercial Bank operates a network of 268 branches and 938 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.
Business
Sri Lanka eyes India grid link as ADB pushes Pan-Asia energy integration
Sri Lanka’s long-discussed electricity grid connection with India is gaining renewed momentum, as the Asian Development Bank (ADB) intensifies efforts to promote cross-border energy integration across the region.
At the ADB Annual Meetings in Samarkand, Senior Director for Energy, Priyantha Wijayatunga, identified the proposed India–Sri Lanka grid interconnection as the most promising avenue to strengthen the island’s power sector. The concept dates back to the 1970s, when Sri Lanka, following the completion of the Mahaweli Development Project, even explored the possibility of exporting electricity. However, rapid economic growth and rising domestic demand shifted the country toward energy imports.
Today, with energy security and cost pressures mounting, the idea has regained urgency. “The time is right,” Wijayatunga said, stressing that political will and financing will be decisive. While undersea transmission cables make the link technically viable, costs remain a major challenge. The ADB, he confirmed, stands ready to support Sri Lanka as a development partner in advancing the project.
Sri Lanka’s prospects are closely tied to a broader regional vision being advanced by the ADB through its Pan-Asia Power Grid Initiative (PAGI). The initiative aims to transform how energy is produced, shared, and consumed across Asia and the Pacific by promoting cross-border electricity trade and grid connectivity.
PAGI is designed not merely as a collection of projects, but as a systems-level integration platform that connects national grids into subregional and eventually continent-wide networks. Its core objectives include bridging energy gaps, enhancing energy security, integrating large-scale renewable energy, and strengthening resilience across interconnected systems.
A key pillar of PAGI is leveraging the region’s resource complementarity. Countries in South Asia, for instance, possess uneven but highly complementary energy resources—hydropower in Nepal and Bhutan, and solar and wind potential in India. By linking grids, countries like Sri Lanka could tap into these diverse energy sources, reducing dependence on costly fossil fuel imports while improving reliability.
ADB estimates suggest that deeper regional power trade in South Asia could yield substantial economic benefits, including lower system costs and more efficient energy distribution. The initiative also envisions mobilizing up to $50 billion in investments by 2035, expanding transmission infrastructure, and improving electricity access for millions.
For Sri Lanka, integration into such a regional grid could be transformative. A connection with India would allow the country to import affordable electricity during shortages, stabilize supply, and support its transition toward cleaner energy. It could also open the door to future participation in a wider South Asian power market.
With feasibility studies and policy discussions already underway, and with ADB backing firmly in place, Sri Lanka’s long-envisioned grid connection with India now appears more achievable than ever.
As the Samarkand meetings underscore the urgency of regional cooperation in an increasingly uncertain energy landscape, Sri Lanka stands at the threshold of a new chapter—one where energy security is strengthened not in isolation, but through connection.
by Sanath Nanayakkare in Samarkand, Uzbekistan
Business
Oceans in crisis: Sri Lanka hosts ‘Sharks International 2026’ amid stark warnings
Sri Lanka this week finds itself at the centre of a deepening global ocean crisis, as leading scientists, policymakers and conservationists gather in Colombo for Sharks International 2026—a high-profile summit unfolding against mounting evidence that the world is rapidly losing control of its marine ecosystems.
The conference, now underway at the Bandaranaike Memorial International Conference Hall, marks the first time the prestigious forum has been hosted in Sri Lanka. But beneath the diplomatic language and scientific exchanges lies a far more urgent reality: the collapse of shark and ray populations is no longer a distant environmental concern—it is an unfolding economic and food security emergency.
More than 100 million sharks and rays are being wiped out globally each year, largely due to overfishing and illegal, unreported and unregulated (IUU) fishing. In Sri Lanka, the situation is particularly acute. Of the 105 species recorded in local waters, nearly 70 are now threatened with extinction, a statistic that scientists warn should set off alarm bells far beyond conservation circles.
Deputy Minister of Environment Anton Jayakody did not mince words when addressing the gathering, framing the issue not just as an ecological tragedy but as a looming economic shock.
“This is not just about saving species. It is about protecting the foundation of our fisheries, our food systems, and the livelihoods of thousands of Sri Lankans. If shark and ray populations collapse, the consequences will ripple through the entire marine economy,” he said.
Sharks and rays sit at the top of the ocean food chain. Their disappearance disrupts the delicate balance of marine ecosystems, triggering cascading effects that can decimate commercially valuable fish stocks. For a country like Sri Lanka—where coastal communities depend heavily on fisheries—this is not an abstract threat but a direct challenge to economic stability.
Yet despite years of warnings, critics argue that global action has been dangerously slow, fragmented, and often undermined by competing commercial interests.
By Ifham Nizam
Business
SriLankan Airlines leads with two category wins in South Asia at PAX Awards
SriLankan Airlines led with two wins in the Airline Award category for South Asia, securing both Best Overall Passenger Experience and Most Improved Airline at the PAX International Readership Awards 2026 held recently in Hamburg, Germany. The awards celebrate the industry’s best and brightest, with winners determined by votes from PAX’s global readership.
The Best Overall Passenger Experience – South Asia award recognises an airline that delivers an exceptional onboard experience to passengers across multiple service areas, including meal service, inflight entertainment and seating. At SriLankan Airlines, this entails meticulous planning at every stage of the passenger journey, supported by collaboration among multiple teams and continuous monitoring and refinement.
Maria Sathasivam, Manager Product Development of SriLankan Airlines, commented on the achievement, stating, “we are incredibly honoured to receive yet another independent endorsement of the service we deliver. Every interaction matters to us, and we are committed to consistently meeting and exceeding passenger expectations, and it is truly rewarding to see these efforts recognised.”
SriLankan Airlines continues to enhance the end-to-end travel experience, from booking through to arrival. Ongoing digital upgrades, including improvements to the airline’s website and app, are designed to deliver a more intuitive and seamless customer experience, supported by AI-driven features and expanded ancillary offerings. At its hub, the Bandaranaike International Airport in Colombo, the airline has also expanded self-check-in and bag drop facilities for added convenience.
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