Business
‘LANKAQR Nationwide Rollout Campaign’ moves to Tangalle, with SDB bank taking On lead role
Launched by the Central Bank of Sri Lanka (CBSL), the ‘LANKAQR Nationwide Rollout Campaign’ proceeded to the city of Tangalle on Saturday 27th November, drawing the participation of numerous high-profile guests together with many of the country’s top banks, financial institutions, and telcos with SDB bank assuming a lead role.
A continuation of the CBSL-led islandwide LANKAQR promotion campaign, which witnessed the hosting of a series of events across the country in major cities including Matale, Galle, Colombo and Kandy, the ‘LANKAQR Nationwide Rollout Campaign’ with its edition in Tangalle advanced on efforts to introduce LANKAQR as the standard for mobile phone and digital payments countrywide.
Held in Tangalle town, the event was graced by the Chief Guest, Minister Namal Rajapakse, top Central Bank officials including D. Kumaratunge, Assistant Governor CBSL, together with top level representatives from all participating banks, financial institutions and telcos.
SDB bank CEO Thilak Piyadigama, the CBSL-appointed Chairman of the LANKAQR Committee delivered the welcome address, pointing out the critical nature of the vision shared by all participating individuals and organizations, in advancing towards a cashless economy plus a digital-savvy country and improved financial inclusion across Sri Lanka.
The Tangalle-leg of the LANKAQR Nationwide Rollout Campaign furthered the program’s wider vision of introducing digital transactions as the norm locally, an aim that is closely linked to SDB bank-owned mobile payment app UPay’s extensive efforts to take digital payment conveniences to each corner of the island.
The event also featured the conducting of specific transactions on-location through the use of LANKAQR, involving the Chief Guest and top officials from all participating banks, financial institutions and telcos. The numerous activities outlined for the day concluded with the visiting of select merchant stores by participating guests, to conduct further LANKAQR-based transactions.
The greatly improved payment functionality offered by QR-based digital payments allows for a range of benefits to both individual consumers and merchants. While offering customers anytime, anywhere payment capabilities, it also facilitates the ability to track finances and spending patterns with greater accuracy. Parallelly, it provides the convenience of real-time transactions to merchants, nurturing a more vibrant economy in both rural and urban spaces countrywide, specifically through the offering of low-cost digital payment solutions to both SMEs and informal businesses, mirroring UPay’s approach under the guidance of SDB bank.
The consequent digital payment plus transaction ecosystem affords a higher degree of commercial transparency, promotes a greater volume of economic activity, and thereby is set to positively impact the national economy as a whole.
With the recent leg of the LANKAQR Nationwide Rollout Campaign held in Tangalle, further public awareness was built on the convenience, cost-effective nature and security of LANKAQR-based digital payments for customers as well as merchants, amplified by top banking entities like SDB bank adding greater momentum towards the national vision of a progressive transformation to a digital economy.
Sri Lanka has reached a staff-level agreement with the International Monetary Fund to secure the next tranche of funding under its ongoing bailout programme, marking a key step in the country’s fragile economic recovery.
The agreement, announced this week, will enable Sri Lanka to access approximately USD 700 million, subject to approval by the IMF Executive Board. The funds form part of the USD 2.9 billion Extended Fund Facility (EFF) programme agreed following the 2022 economic crisis.
The latest development covers the combined fifth and sixth reviews of Sri Lanka’s reform programme, indicating that the country has made sufficient progress to move forward, while highlighting the need to sustain reform efforts.
Sri Lanka’s economy has shown signs of stabilisation in recent months, supported by improved revenue collection, easing inflation, and a gradual buildup of foreign reserves. However, the recovery remains vulnerable to both domestic and external pressures.
By Ifham Nizam
Initially CSE trading was somewhat volatile despite the ceasefire in West Asia but it experienced further volatility after Israel attacked Lebanon yesterday.
However, the IMF delegation which is now in Sri Lanka to release two tranches of its relief package created some positive sentiments for the market, analysts said.
The All Share Price Index went down by 73.06 points, while the S and P SL20 rose by 10.57 points.
Turnover stood at Rs 2.96 billion with six crossings. Those crossings were: JKH 5.5 million shares crossed to the tune of Rs 807.6 million and its shares traded at Rs 19.70, CIC Holdings two million shares crossed for Rs 54 million; its shares traded at Rs 32, Access Engineering 600,000 shares crossed for Rs 44.4 million; its shares traded at Rs 74, Central Finance 116,000 shares crossed to the tune of Rs 27.5 million ; its shares sold at Rs 237, LMF 250,000 shares crossed for Rs 22.8 million; its shares fetched Rs 91.10 and Kelani Cables 200,000 shares crossed for Rs 21 million and its shares traded at Rs 105.
In the retail market seven companies that mainly contributed to the turnover were; Dialog Rs237 million (7.5 million shares traded), LMF Rs 203 million (22 million shares traded), Colombo Dockyard Rs 199.7 million (1.1 million shares traded), HBA Foods Rs 163 million (18.5 million shares traded), JKH Rs 156 million (7.8 million shares traded), JKH Rs 156 million (7.8 million shares traded), Softlogic Holdings Rs 117 million (9.6 million shares traded) and Acme Printers Rs 107 million (15.6 million shares traded). During the day 133.3 million share volumes changed hands in 23666 transactions.
It is said that manufacturing sector counters, like JKH, performed well, while food sector counters, especially LMF and HBA Foods, performed well. Other sectors too performed somewhat well during the day.
Yesterday the rupee was quoted a Rs 315.42/48 to the US dollar in the spot market from 315.30/40 the previous day, dealers said, while bond yields were quoted higher.
By Hiran H. Senewiratne
Marking 25 years of trust, growth, and service excellence, HNB Assurance PLC has unveiled its new corporate identity, transitioning to HNB Life PLC a strategic evolution that reflects the company’s forward-looking vision and commitment to empowering lives with protection and the freedom to thrive, no matter where life takes them.
This milestone signifies more than a change in name or visual identity. It represents a deliberate transformation shaped by strong performance over the past few years, during which the company has achieved remarkable growth, strengthened its market position and enhanced its customer-centric capabilities.
The newly introduced logo, inspired by the form of a wing, symbolises HNB Life’s role as a proactive enabler. It reflects the organisation’s commitment to supporting individuals in navigating life’s journey with confidence, empowering them to pursue their aspirations and live life on their own terms.
The official unveiling took place at a launch event attended by key stakeholders, strategic business partners, well-wishers and employees.
Addressing the gathering, Chairman, Stuart Chapman highlighted the significance of this transformation, stating, “As we mark 25 years of progress, the transition to HNB Life reflects our strategic intent to evolve with the changing needs of our customers and the broader market. This new identity embodies our purpose, to enable and empower individuals to achieve what they truly aspire to in life, with confidence and security. As a company we are extremely excited on what the future holds for as, as we build on an incredible foundation laid over the past two and a half decades.”
The new Vision of the Company is “To be the leader in empowering lives with protection and freedom to thrive, no matter where life takes them”.
Bangladesh advance match timings to save energy
PM on inspection tour of newly renovated Colombo Central Bus Stand
Israel to hold direct talks with Lebanon but no ceasefire, Netanyahu says
Sun directly overhead Nagawilluwa, Galgamuwa, Sigiriya, Palugasdamana and Mankerni about 12:11 noon today (10)
Showers expected in the Western, Sabaragamuwa, Southern and Uva provinces and in Kandy and Nuwara-Eliya districts after 2.00 p.m
Opposition tells Minister Kumara Jayakody to resign
‘Dates have the highest sugar content to fight Coronavirus’
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