Business
Sri Lanka National Aribitration Centre signs MOU with Bangladesh International Arbitration Centre
According to news reports in Bangladesh, a major development for the promotion of international dispute resolution services and cross border professional trade services was recorded through the collaboration, on the basis of an MOU, between the Sri Lanka National Arbitration Centre (SLNAC) and the Bangladesh International Arbitration Centre (BIAC), a press release said.
The release added: ‘This understanding will potentially lead to enhancing trade and investment relations between Bangladesh and Sri Lanka by facilitating the exchange of vital information and organization awareness of alternate dispute resolution amongst the business community.
‘Amongst the other activities planned includes the utilisation with other infrastructure facilities to conduct arbitration conciliatory proceedings, mediation and thereby optimizing resources and enhancing efficiency.
‘The presence of the chairman of the Board of Governors, Sri Lanka National Arbitration Centre Hiran de Alwis and the chairman of the Bangladesh International Arbitration Centre and president of the ICC Bangladesh Mahbubur Rahman underscores the importance of the possibilities. Mr Rahman detailed the existing scenario in Bangladesh and the long standing business ties in Sri Lanka and potential between the two countries to establish best practices within the region. He said that as a fast growing economy in South Asia new avenues for developing trade and investment should be promoted. He looked forward to visiting Colombo and meeting business and government leaders
‘The signing of the MOU would be a great impetus for new potential in bilateral relations between the two countries, underlining the promotion of international trade and services and through effective dispute resolution mechanisms.
‘Hiran de Alwis, the chairman of the Board of Governors, SLNAC, commended BIAC for its proactive role in promoting a Memorandum of Understanding and thereby promoting both countries and its peoples to work jointly for a more efficient and internationally recognized means for settlement of international trade and investment disputes under due process of law. He stated that Sri Lanka was the first to open the economy in 1977 in South Asia. He referred to the long established legal regimes in Sri Lanka and international treaties signed. He said this is the time for the South Asian economies to seize the moment and enhance trade and investment ties so that the business communities, professional services and the peoples of the region can enjoy the fruits of economic growth.
‘The Sri Lanka National Arbitration Centre established in 1985 is the prime institution in administering arbitration for the resolution of commercial disputes in the Country. Seedantha Kulathilake, Chief Executive of SLNAC, Muhammad (Rumee Ali), vice chairman of BIAC, signed the MOU on behalf of their respective organizations at the BIAC office in Dhaka, Bangladesh.
‘The respective chairmen and signatories were joined by Priyantha Gamage, Board Member and Johann Atapattu, Coordinator, SLNAC together with Priyanka Roy, Senior Counsel and Ms. Moyee Mina Haque on behalf of BIAC.’
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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