Business
ComBank launches corporate fuel credit card & prepaid fuel card
The facility is sesigned to benefit large companies as well as small and medium enterprises
The Commercial Bank of Ceylon has introduced a Corporate Fuel Credit Card and a Prepaid Fuel Card that can exclusively be used for fuel purchases and will eliminate the cumbersome fuel allowance reimbursement process currently followed by most companies.
Designed to benefit large companies as well as small and medium enterprises that reimburse employee fuel bills every month, these cards aim to replace company fuel books and travel voucher books and significantly save time spent on verifying bills, collating and reconciling usage information, and fretting over lost receipts, the Bank said.
A Prepaid Fuel Card is essentially issued to employees of a company, at the request of a company and is a reloadable card that works like a debit card and can only be used at fuel stations. At the beginning of each month, a company can credit an employee’s monthly fuel allowance in advance to his or her ComBank Prepaid Fuel Card account which can then be used to purchase fuel. Monthly usage is provided to the company by the Bank and the company can top up the card with the required amount to enable the employee to utilise his or her next month’s allowance.
Meanwhile, a Corporate Fuel Credit Card is enabled with an automated settlement option where the fuel usage of an employee is automatically debited from the company’s current account when the Card is used by the employee to pump fuel.
Business
SEC renews partnership with the University of Jaffna to empower future capital market professionals
The Securities and Exchange Commission of Sri Lanka (SEC) renewed its Memorandum of Understanding (MoU) with the University of Jaffna, strengthening its commitment to developing the next generation of capital market professionals.
The partnership with the University of Jaffna began in 2009, as part of the SEC’s broader initiative to collaborate with national universities in 2008. This has been instrumental in bridging academia and the capital markets industry. The latest renewal reinforces this collaboration, ensuring undergraduates continue to benefit from a robust platform for academic and professional growth.
The renewed MoU continues to offer a range of benefits to undergraduates, including academic recognitions such as gold medals and cash awards for excellence in capital market-related subjects, opportunities for research grants in the field, and enhanced industry exposure through internships and hands-on learning experiences facilitated by the SEC.
The revised MoU was formally signed with the participation of key representatives from the University and the SEC. Tushara Jayaratne, Deputy Director General of the SEC, represented the Commission, while University of Jaffna was represented by its Vice Chancellor, Prof. Sivakolundu Srisatkunarajah, Prof. N. Kengatharan, Dean of the faculty of Management Studies and Commerce and Prof. Lingesiya Kengatharan, Head of Department of Financial Management.
The SEC continues its mission to expand partnerships with other national universities, emphasizing its dedication to creating professional opportunities for students across the country. Through initiatives like these, the SEC aims to inspire a new generation of forward-thinking professionals, fostering academic excellence and driving innovation in Sri Lanka’s capital market.
Sales professionals from Sri Lanka Insurance Corporation General Ltd (SLICGL) converged at the Head Office on 11th November 2024, to compete in the grand final round of the General Insurance Quiz Competition 2024 and awards ceremony. The eagerly anticipated annual event hosted by SLICGL celebrates knowledge, teamwork and competitive spirit among its sales force across all its regional offices. The competition comprised regional and inter-regional rounds, culminating in an exciting final witnessed by the Chairman, Group CEO, COO, and other top management of the company, adding further prestige to the event. The Eastern Regional Team emerged triumphant as Champions while the Man of the Match was awarded to S.A.W.M. Sathurusinghe, representing the Western 3 Region.
Sampath Bank has once again reinforced its unwavering support for Sri Lanka’s export community by renewing its partnership with the National Chamber of Exporters (NCE) for the 32nd Annual Export Awards. This significant milestone reflects the Bank’s long-standing commitment to empowering the nation’s exporters through tailored financial solutions, fostering ethical trading practices, and driving sustainable economic growth.
The official signing ceremony, held at the Sampath Bank Head Office, was attended by senior representatives from both organisations. This partnership emphasises Sampath Bank’s role as a trusted financial ally to exporters, with plans to support key NCE-led initiatives, including the much-anticipated Annual Export Awards on 6th December 2024.
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