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Asgi Akbarally appointed Amãna Bank chairman

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Ali Asghar (Asgi) Akbarally has been appointed as Chairman of the Board of Directors of Amãna Bank upon the retirement of the Bank’s Founder chairman Osman Kassim. Leaving a strong legacy in the Islamic banking industry in Sri Lanka, Osman Kassim retired from Amãna Bank having completed the maximum 9 year statutory period of holding a directorship in a Licensed Commercial Bank as per CBSL directions. Despite retiring from the bank, Osman Kassim continues to be one of the bank’s top 10 shareholders.

Asgi Akbarally joined the Board of Amãna Bank in July 2020 as the nominee director from Akbar Brothers, taking over the position vacated by Tyeab Akbarally, who also retired upon completing the maximum 9 years of directorship as per CBSL regulations.

Asgi Akbarally is an Executive Director of Akbar Brothers (Pvt) Ltd, one of Sri Lanka’s largest diversified corporates, globally renowned for its tea exports. Asgi Akbarally holds directorship in multiple subsidiaries and affiliates of the Akbar Group covering sectors such as Manufacturing, Property Development, Hotels & Leisure, Healthcare, Power Generation, Packaging & Printing, Logistics and Environmental Services. He is the Managing Director of Renewgen (Pvt) Ltd and chairman of Windforce (Pvt) Ltd, Hermitage Resorts (Pvt) Ltd, Uthurumaafaru Holding (Pvt) Ltd Maldives, Lhaviyani Holdings (Pvt) Ltd and Cocoon Investments (Pvt) Ltd Maldives. He is also a director of Alumex PLC.

Asgi Akbarrally is currently the Honorary Consul of the Hashemite Kingdom of Jordon. He holds a BSc Degree in Industrial Engineering from the California State University and is a Fellow Member of the Institute of Certified Professional Managers. A classic car enthusiast, Asgi Akbarally has authored a coffee table book on “Classic and Vintage Automobiles of Ceylon” and is the Patron of the Classic Car Club of Ceylon.

Commenting on his retirement and appointment of the new Chairman, the Bank’s outgoing Chairman Osman Kassim said “Serving Amãna Bank as its Chairman since inception has been a great honour, specially seeing firsthand how the Bank has grown amidst various challenges to where it stands today. I would like to extend my heartfelt gratitude to my fellow retiring directors Tyeab Akbarally, Harsha Amarasekera and Jazri Magdon Ismail who completed the regulatory tenure of 9 years in 2020. They have been great pillars of strength to the Bank since its formation. I am happy to welcome Asgi Akbarally to take over the stewardship of the Bank. It is heartening to know that Asgi, whose business acumen and experience gained through building and guiding a homegrown company to become a world renowned tea brand, will be leading the Bank’s forward journey. I would also like to take this opportunity to thank the other Board Members, CEO Mohamed Azmeer, the Management Committee and Staff of the Bank for their continuous contribution, dedication and commitment towards the Bank’s growth and wish them all the best in taking Amãna Bank to greater heights.”

Also sharing his views newly appointed Chairman Asgi Akbarally said “Amãna Bank will be truly indebted for the visionary thinking and guidance of its Founder Chairman Osman Kassim. Stepping in to fill this void will be no easy task, but I am thankful for the foundation laid, from which we eagerly look forward to build upon to achieve the Bank’s strategic goals and continue making our ‘People Friendly’ banking model available for all Sri Lankans with wider reach and accessibility.”

With the recent changes, Amãna Bank Board of Directors constitute as follows : Ali Asghar (Asgi) Akbarally(Chairman), Rajiv Nandlal Dvivedi, Pradeep Dilshan Rajeeva Hettiaratchi, Aaron Russell-Davison, Mohammed Ataur Rahman Chowdhury, Syed Muhammed Asim and Khairul Muzamel Perera bin Abdullah.

Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated (S&P, Moody’s & Fitch) multilateral development financial institution with a membership of 57 countries. In June 2020 Fitch Ratings Sri Lanka declared an upward revision of the National Long Term Rating of Amãna Bank to BB+(lka) with a Stable Outlook.

Amãna Bank does not have any subsidiaries, associates or affiliated institutions, other than its unique flagship CSR venture, the ‘OrphanCare’ Trust.  Retiring directors Osman Kassim, Tyeab Akbarally, Harsha Amarasekera and Jazri Magdon Ismail will continue to serve as trustees on the ‘OrphanCare’ Trust.



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Microsoft hosts ‘Scaling AI at Work’ to drive AI-first innovation for Sri Lankan businesses

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Dr. Rohini Srivathsa, Chief Technology Officer for Microsoft India and South Asia, presenting 'The Art of Possible with AI for Productivity' at the 'Scaling AI at Work' event in Sri Lanka.

Microsoft ignited the ‘Scaling AI at Work’ event in Sri Lanka on 26 November 2024, providing a dynamic platform for key customers and partners to delve into the transformative potential of AI. The event showed how Microsoft AI is sparking success among its customers, effectively enriching employee experience and driving business processes with the use of an AI platform that is secure, safe, and private.

Dr. Rohini Srivathsa, Chief Technology Officer for Microsoft India and South Asia, led a power track on ‘The Art of Possible with AI for Productivity’. In her session, Dr. Srivathsa discussed the extensive suite of AI models accessible through the Microsoft platform, emphasizing that unlocking its true potential hinges not only on the prompts customers use, but also the context of one’s work. She elaborated on how AI is reshaping business transformation and the critical importance of responsible AI practices, reaffirming Microsoft’s stance on protecting customer data.

Speaking on the efficacy of AI in driving value, Dr. Srivathsa said, “Microsoft runs on trust. We aim to empower our customers to bend the curve on innovation with AI Copilots, driving efficiency through comprehensive cutting-edge systems. We’re changing the way innovation is done, effectively helping our customers accelerate their transformation in the age of AI with a platform that is secure by design to reshape collaborative businesses, processes and decision making.”

A key highlight was how Microsoft 365 Copilot enhances productivity by saving time, automating routine work, thereby freeing workforces to pursue higher priority goals with the potential of creating significant impact.

The event explored how Copilot is actively helping organizations create new business opportunities, optimize capital management, and improve profitability while reducing operational costs by eliminating the need for external support and third-party AI tools. Copilot users reported saving 30 minutes a day, equating to 10 hours per month, highlighting the value of AI in everyday business operations.

Trust and security were central themes throughout the event. Speakers underscored the importance of implementing robust security measures alongside AI adoption. In line with this, a panel discussion titled ‘Creating Customer Delight by Optimizing Processes with Utmost Security’, moderated by Harsha Randeny, Country Manager for Microsoft Sri Lanka and Maldives, explored real-world success stories of businesses achieving operational efficiency through AI-powered solutions.

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The George Keyt Foundation unveils a distinguished line-up of Sri Lankan artists for upcoming auction conducted by Sotheby’s

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Sotheby’s conducts its first ever Auction celebrating contemporary and modern Sri Lankan artists

The eagerly anticipated first-ever art auction conducted by Sotheby’s in Sri Lanka, presented by the George Keyt Foundation, continues to generate excitement with the unveiling of the distinguished line-up of artists.

The landmark event aims to bring together an extraordinary constellation of Sri Lanka’s most celebrated contemporary and modern artists whose works will be showcased and sold in an unprecedented charity auction.

The artworks will be available for viewing at Cinnamon Life on December 8th  from 10.00 a.m. to 6.00 p.m and on December 9th from 10.00 a.m to 5.00 p.m. On December 8th, Ishrat Kanga – Director, Specialist, and Co-Worldwide Head of Modern and Contemporary South Asian Art at Sotheby’s will lead a panel discussion titled ‘Indian Ocean Affiliations in the Making of Modern and Contemporary Sri Lankan Art’. The Panel will be moderated by Mariah Lookman and will include Professor Jagath Weerasinghe and Anoma Wijewardene. This is a free event and registration is available on Eventbrite on the following link: https://www.eventbrite.com/e/indian-ocean-affiliations-in-the-making-of-modern-contemporary-sri-lanka-tickets-1094936778379

The Charity Auction,conducted by Ishrat Kanga of Sotheby’s, featuring 46 Lots by 35 leading Sri Lankan artists will take place on December 9th  2024 at 6.30 p.m. at The Forum, Cinnamon Life. Pre-registration to participate in the Auction is required. For more information, please visit www.georgekeytfoundation.com/auction

The prestigious exhibition receives support from generous sponsors including Cinnamon Life as the Principal Sponsor and Nations Trust Bank serving as Co-Sponsor. Other Official Partners include Lynear Wealth for Wealth Management, Wine World for Beverages, MA Lanka for Logistics, Colombo Jewelers for Gem & Jewellery, Calcey for Technology, Printcare for Print Services, and Chatham Luxury as Watch Partner.

The exhibition provides a valuable opportunity for art enthusiasts, collectors, patrons and the public to immerse themselves in contemporary creative expressions, celebrating Sri Lanka’s artistic legacy. For more information visit our website www.georgekeytfoundation.com/auction and pre-registration details, contact: info@georgekeytfoundation.com

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NDB Kotahena branch sets a new benchmark with record-breaking CEO’s Club achievement

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NDB Kotahena Branch’s CEO’s Club Achievement Celebration

NDB Bank proudly celebrates the exceptional performance of its Kotahena Branch, which has achieved a monumental milestone in the bank’s history. The branch has become the first in NDB’s history to produce an unprecedented all 12 branch staff members qualify for the elite CEO’s Club members in a single year 2024 with a remarkable YTD achievement of Rs.37 million, cementing its position as the highest performer across the entire network.

This historic achievement is a testament to the Kotahena Branch team’s relentless dedication, exceptional teamwork, and commitment to delivering customer-centric solutions. By placing the needs of customers at the forefront, the team has demonstrated the true spirit of excellence that NDB strives for.

NDB Bank’s CEO’s Club, a hallmark of bancassurance excellence, has grown exponentially since the partnership with AIA Insurance began in 2006. As a pioneer in integrating banking and insurance services, NDB has consistently enhanced its suite of bancassurance solutions to provide comprehensive financial security for its customers. In 2023, the bank recorded a landmark achievement with 210 CEO’s Club members, showcasing the growing importance of bancassurance in NDB’s customer-focused offerings.

The 12 exemplary staff members who contributed to this outstanding achievement were Balasubramaniam Aingaran – Branch Manager, Shivanthan Jayaranjit – Privilege Relationship Manager, Jeyasekaram Kuganthan – Assistant Manager, Gagan Hiniduma – Credit officer, Navodya Nagodavithana – Credit Associate, Chamara Udayanga – Pawning officer, Sharmin James – Cash Officer. Amirthalingam Kirushikan – Previous cash officer, Mohammed Nafeel – Junior Executive, Nishan Madushanka Leonard – Senior Business Development Associate, Nidhursha Yogaraj – Banking Assistant and Sesadi Jeyasekara – Banking Assistant.

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