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Mahindra Ideal Finance appoints Mufaddal Choonia as MD & CEO

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Sri Lanka 08th October, 2024: Mahindra Ideal Finance Limited (MIFL), a subsidiary of Mahindra Finance has announced the appointment of Mufaddal Choonia as its new Managing Director & CEO with immediate effect. Mufaddal will succeed Duminda Weerasekare, who retired as MIFL’s CEO.

In his new role, Mufaddal will focus on building a robust digital lending ecosystem, especially benefitting SME and rural customer segments. He will also be responsible for further enhancing MIFL’s customer value proposition by introducing a wider range of products.

Raul Rebello, Managing Director & CEO, Mahindra Finance, said, “Mufaddal has played various leadership roles across the Mahindra group and at Mahindra Finance. While thanking Duminda for his contribution towards building a robust financial services business in Sri Lanka, I am positive that with his experience, Mufaddal will take MIFL to newer heights”.

Nalin Welgama, Chairman, Mahindra Ideal Finance mentioned, “We are excited to have Mufaddal associate with us, given his diversified and rich international experience in various geographies globally. He brings an adept understanding of the financial services sector, which will further drive growth opportunities for MIFL in the Sri Lankan market”.

The investment by Mahindra Finance have resulted in a strong recognition for MIFL with Fitch ratings of AA – (Outlook Stable), making MIFL one of the top credit rated financial institutions in Sri Lanka.



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Sri Lanka Tourism to showcase a new era of growth at WTM 2024 in London

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Sri Lanka Tourism is all set to make a grand entry at the upcoming World Travel Market (WTM) 2024 in London, UK, as the country’s tourism industry is poised for promising growth and development. The largest-ever trade delegation will represent Sri Lanka at this year’s show, with a historical record number of over 100 travel agencies/tour operators/hoteliers from the travel industry. The participation underscores the country’s commitment to positioning itself as a premier travel destination for the UK travelers amidst the renewed tourism strategy and new way forward.

At WTM 2024, Sri Lanka will highlight its strategic roadmap for revitalizing tourism, building on a remarkable 50% year-on-year growth rate experiencing so far from the UK, the second largest source market for Sri Lanka. This arrival growth, which significantly surpasses the previous year’s performance, signals a very positive future for the island nation’s travel sector.

Sri Lanka’s participation in the WTM is especially significant this year, as it comes at a time of immense transformation for the country.The new government’s vision for tourism emphasizes sustainable development, cultural enrichment, and eco-tourism, with a focus on harnessing the country’s diverse tourism assets and offerings. The government’s commitment for ensuring ease of access to the destination through a seamless visa process and its pledge to further enhance Sri Lanka’s mage as one of the most safe and peaceful destinations for tourists will be key aspects highlighted this year.

The Sri Lanka Tourism Pavilion is located at N12-210 at Asia Area of ExCeL Hall, London. It will host an array of industry stakeholders, including tour operators, travel agents, media representatives, diplomats, and travel trade associations and other stakeholders all united in promoting the nation’s vibrant tourism offerings.

“The increasing appeal for Sri Lanka as a most sought-after travel destination with unique travel experiences will be the key highlights of this year’s show. At WTM 2024, we aim to showcase not only our stunning landscape, but also a strong forward-thinking strategy that places sustainability and innovation at the forefront of our future growth ” said Buddhika Hewawasam, newly appointed Chairman of Sri Lanka Tourism Promotion Bureau.

Sri Lanka will conduct an official Press Conference on 6th November 2024 during the World Travel Market (WTM) in London carrying immense significance for the nation’s tourism revival and strategic outreach. As one of the largest travel trade events in the world, WTM offers Sri Lanka Tourism a prime platform to engage directly with leading UK and global travel trade media, ensuring that the country’s message reaches key industry influencers and potential travelers. The press conference is a unique opportunity to reaffirm the island’s appeal to UK travelers. With the participation of prominent travel trade journalists and media outlets, Sri Lanka aims to generate high-impact visibility for its tourism products, initiatives, and long-term strategy.

With Sri Lanka gaining increasing attention in the global travel industry, this participation at WTM 2024 marks a pivotal moment for the country as it continues to evolve and expand its tourism horizons. Visitors to the pavilion can expect insights into the future of Sri Lankan tourism, networking opportunities, and an immersive introduction to the island’s authentic travel experiences.

The WTM Travel Fair 2024 will take place from 05th -07th November 2024 in ExCeL Hall, London, United Kingdom for the 44th year. The World Travel Market expects to showcase round 50,000 visitors 5,000 exhibitors and over 4000 tourism service providers including tourism boards, hoteliers, transport brands, tourism services during this year’s show.

(Sri Lanka Tourism)

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‘Embrace change, rather than fear it’: Personal Transformation Coach Sharika Mubarack

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Sharika Mubarack sharing her insights

By Ifham Nizam

In a powerful address to a room full of aspiring entrepreneurs and leaders recently, Sharika Mubarack, a distinguished Personal Transformation Coach and business leader, shared profound insights from her personal journey. Her message was clear: the path to leadership is one of continuous growth, self-reflection and embracing change, even in times of uncertainty.

With over 18 years of diverse experience spanning multiple sectors, Mubarack’s journey from management accounting to entrepreneurship and coaching has been anything but conventional. Speaking with warmth and authenticity, she reflected on three key lessons that shaped her career and personal growth, offering these insights as guiding principles for future leaders.

Mubarack began her career in the corporate world, working as a management accountant, a seemingly stable and predictable path.

However, she soon realized that stability did not equate to fulfillment. Driven by an desire for something more, she left her corporate career to pursue her passion for writing and entrepreneurship.

“I carved my own path,” she recounted, highlighting the bold decision to transition into her family business and eventually establish her own entrepreneurial venture. Mubarack emphasized that true growth comes when individuals embrace change rather than fear it.

“We often cling to the familiar, but true growth comes when we open ourselves up to new possibilities, even when they feel uncertain,” she said, encouraging the audience to approach change with curiosity instead of stress.

Reflecting on a time of national crisis, Mubarack spoke about Sri Lanka’s ‘Aragalaya’ movement, a period of civil unrest that led many to flee the country. The uncertainty and anxiety were palpable, she acknowledged, but rather than allow fear to drive her decisions, she chose to stay.

“What I realized is that every time someone left, a fresh opportunity was created for those who stayed, she said, pointing out that even in the darkest times, opportunities arise for those willing to look for them. Mubarack drew a powerful comparison to the resilience of people in Gaza, highlighting their ability to persevere and push forward in unimaginable circumstances.

“Even in crisis, there is always opportunity, she said, urging aspiring leaders to seek innovation and adaptation in times of challenge.

Mubarack’s final lesson focused on personal transformation—an area in which she has built her expertise as a coach and mentor. She described how many clients come to her with a list of external problems they believe are holding them back.

Her response is both practical and profound: true change does not come from external circumstances but from within. “Would you like me to go out and change the world for you so you can be problem-free?” she joked, adding that real transformation begins when individuals shift their own mindset.

Quoting the Holy Quran, she reminded the audience: “God will not change the situation of a person unless they change what’s in themselves.” Mubarack stressed that our beliefs, attitudes, and values are what truly shape our reality and the world around us.

As Mubarack concluded her talk, she left the room with a powerful message: future leaders must embrace change, look for opportunities even in times of crisis, and understand that the most significant transformations come from within.

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Heritance Aarah named Most Outstanding Culinary Organisation at FHAM 2024

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Team Heritance Aarah at FHAM 2024

Heritance Aarah Maldives, a Premium All-Inclusive resort nestled in the Raa Atoll, has been honoured as the Most Outstanding Culinary Organization at the Food and Hospitality Asia Maldives Global Culinary Challenge and Exhibition 2024 (FHAM), marking the second time the resort has claimed this prestigious title. The resort showcased its culinary prowess by securing a remarkable total of thirty-nine awards, including fourteen Gold Awards and ten prestigious special awards, emerging as the winner among sixty-five competing resorts.

Among the celebrated special awards, Heritance Aarah triumphed in categories such as Best Chef, Best Pastry Chef, Most Outstanding Artist, Plated Appetizers Winner, Plated Three Course Meal – Winner, and Creative Rice Dish Winner, among others.

Heritance Aarah, renowned for its premium culinary offerings, invites guests to explore an array of seven diverse restaurants and five vibrant bars. Here, patrons can indulge in world-class buffets and unique dining experiences curated by Culinary Olympians and award-winning chefs, ensuring every meal is an unforgettable part of their Maldivian journey.

Among the seven exceptional dining venues, guests can savour a range of cuisines. At Ranba, Asian and international flavours come alive; Ralu offers a sumptuous selection of French and Italian dishes; Ginifati specializes in fresh seafood and expertly grilled fare; Baani presents creative fusion dishes; while Hathaa tempts with urban street food inspired by Tokyo and Bangkok. Ambula invites diners to explore the exotic tastes of contemporary Sri Lankan and Maldivian cuisine, complemented by an extensive vegan menu. The resort’s five bars serve innovative concoctions and premium spirits. Bandhi Bar, the main pool bar, provides a laid-back atmosphere for enjoying expertly mixed drinks and shisha alongside pizza. The Sky Bar, with its breathtaking sunset views, features a range of classic and signature cocktails, while Falhu focuses on aged spirits and biodynamic wines. Ralu Lounge Bar boasts the largest selection of rum and tiki cocktails in the region.

Heritance Aarah also offers a premium selection of over 80 top-shelf spirits and 150 beverages and a signature cocktail list featuring over 30 unique creations, ensuring a seamless flow of flavours throughout the dining experience.

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