Business
DFCC Bank issues Sri Lanka’s first Blue Bond, charting a new course for sustainability
– DFCC Bank has launched Sri Lanka’s first-ever Blue Bond, a landmark LKR 3 billion issuance dedicated to financing projects that protect and sustain the country’s most vital resource – the ocean.
This pioneering bond, carrying an expected rating of ‘A(EXP)(lka)’ from Fitch Ratings, will support projects in clean drinking water infrastructure, sustainable marine fisheries and aquaculture, marine renewable energy, eco-friendly coastal tourism, wastewater management, climate adaptation for coastal communities, and clean marine transportation. It adheres to the International Capital Market Association’s (ICMA) Green, Social, and Sustainability Bond Principles and emerging Blue Bond guidelines, with transparency, a clearly defined use of proceeds, and measurable outcomes at its core.
For Sri Lanka, where nearly 30 percent of the population lives in coastal districts and livelihoods are tied to fisheries, tourism, and trade, the Blue Bond represents more than capital mobilisation. It is a commitment to aligning financial markets with environmental realities, safeguarding livelihoods, ecosystems, and long-term resilience.
The initiative builds on DFCC Bank’s legacy of sustainable finance and national firsts. Since financing the country’s first grid-connected mini-hydro project in 1996, the Bank has backed renewable energy projects across wind, solar, and waste-to-energy. In 2024, DFCC Bank issued Sri Lanka’s first Green Bond, listed on the Colombo Stock Exchange, the Luxembourg Green Exchange, and the NSE International Exchange at GIFT City in India. The Blue Bond extends this trajectory, directing financial innovation towards the seas and reinforcing the Bank’s 70-year history of driving development with sustainability at its core.
Thimal Perera, CEO of DFCC Bank, stated: “Each step has been about proving that Sri Lanka can meet the highest international standards. The Blue Bond continues that journey – this time by bringing focus to our oceans, waterways, and the communities that depend on them. Finance can change the course of a nation. With its first Blue Bond, DFCC Bank is proving that it can also change the course of its oceans.”
With this issuance, Sri Lanka joins a small but growing circle of nations leveraging capital markets to protect marine ecosystems, alongside the Seychelles, Fiji, Ecuador, and Indonesia. For DFCC Bank, now in its 70th year, the Blue Bond underscores that development and environmental stewardship are not competing goals but complementary imperatives. The real story, however, will be told not in markets or rating tables, but in fishing villages with cleaner harbours, coastal communities adapting to climate risks, tourism operators preserving coral reefs, and households gaining access to safe drinking water.
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
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