Business
LOLC Finance named ‘The Finance Company for Credit Cards’ at Next 100 Global Awards 2021
The Next 100 Global Companies to watch, highlights some of the most exciting, innovative, and promising businesses from around the world. At the 2021 Next 100 Global Awards, LOLC Finance was named the Finance Company for Credit Cards.
The Next 100 Global Companies list recognizes companies at the forefront whose strategies, achievements, dedication, and leadership of those who demonstrate outstanding achievement and are committed to delivering the products clients need and the results clients want, act as a catalyst for the industry.
A wide range of criteria has been used for the selection of these companies worldwide, including leadership and team experience, quality and track record, industry footprint – regional / global, social contribution and economic impact, level of expertise, growth rate, technological advantages, customer response and engagement, disruptiveness of the solution in its respective markets and impact on their respective industry.
Taking Sri Lanka’s largest segment on a journey towards a cashless world, LOLC Finance – Sri Lanka’s largest Non-Banking Financial Institution (NBFI) launched its Credit Card operations in late 2018. Launched in partnership with MasterCard™, the main aim of the Card proposition was to enhance the value added services offered to existing customers. LOLC Finance has issued eight types of cards catering to diverse customer segments and needs. A significant, 70,000 cards have been issued at the end of three years, since the first series of cards were issued, despite unprecedented systematic shocks the industry encountered.
In early 2021, LOLC Finance introduced a new Credit Card named, SAVI which is exclusively designed to the Pensioners and State sector employees across Sri Lanka. The card was introduced as a part of LOLC Finance’s overall digitisation strategy, which is in line with the Central Bank’s ‘2020 – Year of Digital Transactions’ plan, to promote and create awareness on digital payments throughout the country. SAVI was awarded the “best new credit card in Sri Lanka for 2021” by the Global Banking and Finance Review.
Speaking about the global recognition, Hasala Thilakaratne, Head of SME and Consumer Business of LOLC Finance PLC said, “Despite the challenging operating environment which was experienced throughout 2020 and 2021, the Credit Cards unit successfully achieved a portfolio of over Rs. 2.2 bn. One of the key factors for this impressive performance was the continued investment and drive towards introducing new products and upgrading the existing credit card features and investing in digital technologies, to be ahead of the curve. The introduction of continuous value additions and customer benefits played a major role in winning such global recognition and I believe that we are on the right track as our customer centric approach is reason behind our success”.
Chief Manager, Business Development of LOLC Finance Credit Cards, Senal Tharanga added, “First and foremost, I am extremely thankful for our staff for their dedication and hard work, despite the many setbacks and challenges we experienced amidst a global pandemic. An online credit card application was launched for customers to apply for a credit card even during travel restrictions, purely as an online application or through a QR scan. In keeping with our customer-oriented approach, cardholders were given an extension on payments and granted fee waivers based on individual needs across the country, depending on which areas were most affected by the pandemic.
LOLC Finance is the country’s largest NBFI with the largest Fixed Deposit and Savings Deposit base among the Registered Finance Companies of Sri Lanka.
Business
Mattala Wildlife Unit to boost revenue, tourism and investor confidence
The launch of a dedicated wildlife unit at Mattala Rajapaksa International Airport is expected to deliver significant economic benefits by improving aviation safety, strengthening eco-tourism and enhancing Sri Lanka’s investment appeal, Wildlife Conservation Department Director General Ranjan Marasinghe said.
Speaking at the signing of a Memorandum of Understanding between the Department of Wildlife Conservation and Airport and Aviation Services (Sri Lanka) Limited, Marasinghe said the initiative links conservation directly with national development and revenue generation.
“This is more than an administrative step—it is a forward-looking initiative that aligns conservation, aviation safety and national development in a single strategic effort,” he said.
He noted that wildlife management at airports is globally recognised as essential for reducing bird strikes and wildlife-related disruptions, which can lead to costly repairs, delays and operational losses.
By proactively managing such risks, the Mattala Wildlife Unit is expected to lower potential costs for airlines and airport operators while improving efficiency and confidence among carriers considering future operations.
Marasinghe said the airport’s proximity to premier tourism destinations such as Yala National Park and Udawalawe National Park, together with marine tourism opportunities including Blue Whale watching, gives Mattala a strong commercial advantage.
“This convergence of aviation and wildlife tourism creates an extraordinary opportunity,” he said, adding that the airport has the potential to become a major gateway for high-value eco-tourism.
Industry observers note that wildlife tourists generally spend more on guided safaris, hotels, transport and local experiences, generating stronger foreign exchange earnings and employment opportunities for surrounding communities.
Marasinghe said integrating environmental standards into airport operations would also improve Sri Lanka’s global image at a time when investors and international travellers increasingly value sustainability.
“By integrating environmental considerations into airport operations, we position Sri Lanka more favourably on the global stage, demonstrating that we are a nation committed to sustainability, responsibility and innovation,” he said.
He expressed hope that the Mattala model would be replicated at other international airports, creating long-term savings, stronger environmental governance and wider economic returns.
The Director General said the Department of Wildlife Conservation remains committed to supporting the national economy through new and meaningful avenues while protecting Sri Lanka’s natural assets.
“Conservation must also contribute to development,” he said, stressing that protecting biodiversity and generating growth can go hand in hand.
By Ifham Nizam
Business
Aitken Spence Elevators and CINEC usher in a new era for Sri Lanka’s elevator industry
Aitken Spence Elevators, in collaboration with CINEC Campus, recently held the Certificate Awarding Ceremony for the latest batch of trainees of the Elevator Serviceman Course at the Elevator Training Centre (ETC). The graduates were awarded their NVQ Level 3 certifications, marking a significant milestone in their professional journey within Sri Lanka’s vertical transportation industry.
The certification programme was developed in partnership with the National Apprentice and Industrial Training Authority (NAITA) and the Ministry of Vocational Training & Skills Development, ensuring trainees received industry-recognised qualifications, alongside strong practical competencies. The ceremony was attended by directors of both Aitken Spence and CINEC Campus, as well as staff members, lecturers, and invited guests of the graduating students
Anuka Prashan Pieris was recognised as the Most Outstanding Student of the batch in appreciation of his exceptional performance and commitment throughout the programme. The Elevator Training Centre plays a vital role in addressing the growing demand for skilled elevator service technicians through structured training and hands-on learning. The facility features Sri Lanka’s first Elevator Training Tower, offering trainees practical exposure aligned with both local and international standards.
All graduates of the current batch have already commenced their careers as technicians and supervisors at Aitken Spence Elevators. Their seamless transition into the workforce reflects the programme’s strong emphasis on developing job-ready professionals capable of contributing effectively from day one.
Business
Sterling Steels wins Merit Award at SLIA Annual Product Awards 2026
COLOMBO, SRI LANKA– Sterling Steels (Pvt) Ltd, a premier manufacturer of high-quality globally renowned steel roofing & cladding, announced it has been honored with a prestigious Merit Award at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards 2026. The national recognition was awarded in the highly competitive Zinc-Aluminium Coated Profile Steel Sheet category, underscoring the company’s dedication to excellence, innovation, and superior quality in the Sri Lankan construction industry.
The award was presented during a grand ceremony held at the esteemed Nelum Pokuna Theatre, a key event in the nation’s architectural and construction calendar. The SLIA Annual Product Awards are widely regarded as a benchmark for quality and design excellence, with products rigorously evaluated by a panel of distinguished architects and industry experts. Receiving this Merit Award positions Sterling Steels among the top-tier suppliers of building materials in the country.
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