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UNDP and IFC helping Sri Lanka to discover financial inclusion

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The launch of the Financial Literacy Roadmap of Sri Lanka (2024-2028) at the CBSL on May 21st 2024, led by UNDP Resident Representative for Sri Lanka, Ms. Azusa Kubota and CBSL Governor Dr. Nandalal Weerasinghe

By Sanath Nanayakkare

The barriers to financial inclusion have been a longtime problem in Sri Lanka as financial literacy has thus far been the prerogative of only the nation’s affluent customers.

However, eventually the Central Bank of Sri Lanka, 40 other national institutions, the public and private sector of the country along with the United Nations Development Programme (UNDP) and the International Finance Corporation (IFC) are now looking to help broaden financial literacy among the general public of the country to help them achieve financial freedom without allowing it to remain an exclusive right anymore.

This was revealed when the Financial Literacy Roadmap of Sri Lanka (2024-2028) was unveiled at the Central Bank of Sri Lanka on May 21st 2024.

The roadmap developed under the Financial Literacy and Capacity Building pillar of the National Financial Inclusion Strategy (NFIS) quite obviously incorporates sequenced actions proposed by the United Nations Development Programme and the International Finance Corporation (IFC) which were described by the Central Bank Governor Dr. Nandalal Weerasinghe as vital partners in rolling out the roadmap.

Introducing Mr. Beewise – the Sri Lankan Financial Literacy Expert in the first-ever financial inclusion roadmap for Sri Lanka, the multi-stakeholder knowledge tank promotes two aspects leading to financial inclusion in Sri Lanka; namely, knowledge and skills and attitude of the Sri Lankan general public by taking a cue from the busy bees.

“Bees, skilled in searching for and using resources reflect the value of knowledge to steer the day to day life prudently. The skills bees demonstrae in collecting nectar and producing honey reflect the practical skills needed in finance, budgeting, saving, investing and managing debt. And that is why we are referring to the analogue of the bee in this context,” said UNDP Resident Representative for Sri Lanka, Ms. Azusa Kubota.

“One of the mandates the Central Bank has been given is Financial Inclusion, and our endeavor towards this national agenda is strengthened and supported by the United Nations Development Programme (UNDP), the International Finance Corporation (IFC) and the members of the National Financial Inclusion Council,” said CBSL Governor Dr. Nandalal Weerasinghe.

He further said:

“Financially literate people make informed decisions about savings, investments and borrowings. They are more likely to understand the impact of the monetary policy decisions we take, and respond appropriately in line with monetary policy stance, contributing to effective monetary policy implementation.”

“Secondly, financially literate consumers will make informed choices and will demand efficient, transparent and responsible culture from the financial institutions rather than we need to regulate them all the time. Financial literacy will increase public trust in the financial system by supporting individuals to understand how the financial system works. This understanding is very important for the public to make their financial decisions. Further, financial consumers will be empowered to safeguard themselves against financial frauds which are growing with the new of technologies. More importantly, financial literacy can support reducing over-indebtedness and alleviating poverty.”

“Informed access to financial services enables people to manage their finances better, save for the future and invest in opportunities that benefit them. In the long run, this will reduce the burden on the government in terms of having to provide a social safety net, and will enable them to have better living conditions. Financially literate people can come out of poverty from their own financial decisions. A forward looking aspect of financial literacy advocates equipping the future generations with necessary financial capabilities to be financially resilient when they become adults. So, it is important for them to acquire financial literacy at school and university level.”

“Thus investing in financial literacy will be an investment in higher social and economic returns. So there are clear social and economic benefits out of financial literacy in any country. In this backdrop, the Central Bank of Sri Lanka is striving to improve the financial inclusion landscape of Sri Lanka through various initiatives.”

“The introduction of National Financial Inclusion strategy in 2021 with the help of all stakeholders by the Central Bank is currently in its implementation phase. That marks a significant milestone. The new CBSL Act entrusts the duty of promoting financial inclusion. The mandate has been given to the CBSL to formally promote financial inclusion. This road map provides an evidence based policy framework aimed at positively changing the financial behavior towards the betterment of the general public in Sri Lanka.

“Thirdly, creating of vigilant consumers is important to ensure consumer protection. As a whole, the implementation of this roadmap will be crucial in realizing the aspirations of financial inclusion in Sri Lanka,” he said.



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Mahindra Ideal Motors celebrates gala ‘Excellence Awards’ honouring outstanding performance and innovation

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The Mahindra Ideal Motors Excellence Awards ceremony, a grand celebration to recognize dealers and other stakeholders of Ideal Motors, was held at the Wave n’ Lake Banquet Hall & Restaurant in Welisara recently.

The event was graced by the presence of special guests including Nalin Welgama, Founder and Chairman Ideal Motors, Dilani Yatawaka, Group Managing Director/CEO Ideal Motors, Nimisha Welgama, Director Legal and Corporate Affairs Ideal Motor, Sachin Arolka, Head International Operations, Auto Division Mahindra & Mahindra India. Senthil Selvaraju, Head International Operations and Customer Service Automotive Division Mahindra & Mahindra India, Sujeeth Jayant, Country Head Mahindra & Mahindra India and Shitam Kundu, Head Domestic Services Mahindra & Mahindra India.

Also, in attendance from Ideal Motors were Kasun Fernando, General Manager Commercial Vehicle Sales Division, Sameera Bamunuarachchi, Deputy General Manager Spare Parts, Logistics & Inventory and Prasanna Manamperi, Deputy General Manager After Seles Service.

Speaking at the event, Nalin Welgama Ideal Motors Founder and Chairman said, “When we began our journey with Mahindra in 2009, the previous company had sold 300 vehicles in the country, of which nearly 150 had various defects. At that time our journey began by engaging with the parent company in India and repairing those vehicles free of charge. That commitment has brought us to where we are today. As we believe, our journey truly begins after the sale. We are dedicated to strengthening our customers, and in doing so, strengthening ourselves. That is how we transformed the after-sales service experience.”

He added, “Our main strength is the Mahindra Bolero, which has sold more than 10,000 units in just two years. In a very short period, we grew from zero to over 100,000 vehicles sold. This is not my victory, but the victory of all of you who contributed to it. Despite the challenges of the COVID-19 pandemic and the economic crisis we faced, this awards ceremony was organized to express our gratitude to all of you who trusted our institution and stood by us. Let us continue our victorious journey together.”

Dilani Yatawaka, Group Managing Director Ideal Motors, said: “Today is a very happy day for us. This is the first time in history of the organisation, that representatives of our vehicles, spare parts, services, and financial institutions are meeting together under one roof.”

Speaking on the occasion, Sachin Arolka, Head International Operations, Auto Division Mahindra & Mahindra India, stated that Ideal Motors in Sri Lanka is one of the largest seller of Mahindra vehicles in Asia.

More than 300 dealers and finance partners participated in the event which concluded with dinner, fellowship and entertainment.

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Police engagement supports wildlife protection in hill country

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Strengthening conservation through active law enforcement

An awareness and capacity-building program on wildlife crime prevention, with a special focus on the Sri Lankan leopard (Panthera pardus kotiya), was successfully conducted on March 20 at the Dimbula Athletics & Cricket Club, Radella.

The session was organized under the ongoing Multi-Regional Leopard Research and Conservation Project implemented by the Wildlife & Nature Protection Society (WNPS), in collaboration with LOLC. It brought together senior officers representing 28 Police stations across the Nuwara Eliya and Kandy districts, underscoring the growing importance of law enforcement in conservation efforts within multi-use landscapes, a WNPS news release said.

The Central Highlands present a unique conservation challenge, where increasing habitat loss and fragmentation, depletion of natural prey, and use of snares continue to threaten leopards inhabiting these landscapes majority outside formally protected areas. The session therefore focused on strengthening the capacity of Police officers to identify, prevent, and respond to wildlife crimes, while fostering closer coordination with conservation stakeholders, it explained.

Co-Chair of the Wildcats Subcommittee, Prof. Enoka Kudavidanage, highlighted the ecological and economic significance of leopards as apex predators, emphasizing their role in maintaining ecosystem balance and supporting nature-based tourism. She also outlined the current conservation challenges in the Hill Country and presented ongoing interventions under the WNPS–LOLC project.

Dr. Sanjaya Weerakody, Postdoctoral Fellow at the Xishuangbanna Tropical Botanical Garden (XTBG), Chinese Academy of Sciences, shared key research findings on leopard mortality trends over the past 17 years revealing concerning patterns, including the disproportionate loss of mature male individuals and the increasing prevalence of snaring as a primary cause of death highlighting an urgent need for targeted enforcement.

Attorney – at – Law Charaka Jayaratne provided an in-depth overview of the legal provisions under the Fauna and Flora Protection Ordinance, with particular attention to offences related to snaring. He discussed how Police can take more proactive and effective action, identifying gaps in current approaches and suggesting practical measures to strengthen enforcement outcomes.

Adding further perspective, Samantha Gunasekara, former Deputy Director of Customs and Chairman of the Marine Environment Protection Authority (MEPA), spoke on the broader context of illegal wildlife trade in Sri Lanka. Drawing from past cases and recent observations, he highlighted emerging trends and risks associated with wildlife trafficking.

Representing the Department of Wildlife Conservation, Ranger Srinath Dissanayake of the Hakgala Wildlife Range shared recent cases on leopard deaths and rescue operations recorded in 2025. He emphasized on personal observations, importance of timely intervention, and strong collaboration between field officers and the Police to mitigate human–wildlife conflict and prevent avoidable losses.

An interactive discussion followed, allowing officers to raise questions, clarify procedures, and exchange experiences while sharing their feedback as well. This dialogue contributed to reinforcing the value of strategic engagement between the Police, the Department of Wildlife Conservation, and conservation partners while strengthening inter-agency understanding and highlighting the need for coordinated responses during leopard-related incidents.

The session commenced with opening remarks by WNPS President Graham Marshall, who expressed appreciation for the participation of the Sri Lanka Police and reiterated the critical role of law enforcement in safeguarding biodiversity beyond protected areas.

WNPS Past President and WNPS LOLC Project Head Spencer Manuelpillai, Project Coordinator Gihani Hettiarachchi, Regional Center Coordinators, Thilanka Dissanayake and Attorney-at-Law Malaka Palliyaguruge were also present as part of the WNPS team.

WNPS extends its sincere appreciation to all officers who participated for their commitment and active engagement. Supported by LOLC, these initiatives form part of a broader effort to strengthen practical conservation through collaboration, knowledge sharing, and effective enforcement in Sri Lanka’s Hill Country.

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Mangala Tex marks expansion with new Kurunegala Branch

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Fashion retail leader Mangala Tex celebrated the grand opening of its newest branch in Kurunegala on Saturday, March 14, 2026, adding a vibrant new dimension to the city’s commercial landscape.

Since its inception, Mangala Tex has been synonymous with style, durability, and quality, earning a lasting reputation as a premier clothing retailer. Guided by the visionary leadership of Chairman Ronald Nimal Hope, the brand has successfully established a strong presence with thriving outlets in Yatinuwara Veediya, Kandy, Cross Street, Kandy, and Peradeniya, Kandy.

The Kurunegala expansion marks a significant milestone in the company’s growth, bringing its signature fashion offerings closer to a wider customer base. True to its slogan, “Let Your Clothing Do The Talking,” the new store features an extensive range of apparel catering to all age groups, blending contemporary style with durable, high-quality fabrics.

Shoppers at the Kurunegala branch are greeted by a welcoming atmosphere and attentive staff, which long-time customers cite as key reasons for their loyalty. The store’s combination of trendy designs, reliable quality, and customer-centric service continues to set it apart in Sri Lanka’s competitive fashion retail sector.

Mangala Tex now employs more than 120 staff members across its branches, remaining a proudly family-driven enterprise alongside Managing Director Pahan Dissanayaka and Directress M M G P Dissanayaka.

With the official opening in Kurunegala, Mangala Tex demonstrates that consistent quality, style, and service can drive sustained growth, expanding the brand’s reach to new communities while reinforcing its status as a trusted name in Sri Lankan fashion.

Text and Pix by SK Samaranayake

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