Business
ComBank partners with National Science Foundation to enhance STEM education
The Commercial Bank of Ceylon has announced a partnership with the National Science Foundation (NSF) to further enhance the Bank’s science, technology, engineering, and mathematics (STEM) education projects and the delivery of STEM education to selected underperforming schools in Sri Lanka.
This initiative in collaboration with the Ministry of Education comes a year after the Bank supported the establishment of 100 STEM smart classrooms island-wide to deliver digitised educational content. Under the MoU signed with NSF, the Bank’s CSR Trust will provide a list of schools to implement STEM projects and deliver logistical support to launch the STEM programme and carry out impact assessments.
Recognising the rapid advancements in technology globally and the increasing demand for skilled professionals in the STEM fields, the Bank said its CSR Trust chose to implement this project to prioritise STEM education in the local education system.
For its part, the NSF will recommend schools deserving of STEM education support, assist the Bank in selecting and evaluating education projects which would yield impact at national level, assist the Bank to design the training programme, and perform impact assessments after the implementation of the STEM programme.
Both parties will identify and implement interventions to address specific requirements of selected schools chosen for the programme, among their other responsibilities listed in the agreement.
Commenting on this latest STEM education programme, Commercial Bank Chief Financial Officer Mr Nandika Buddhipala said: “The Bank decided to expand its efforts in the field of STEM education because this will help prepare students for the jobs of the future. Many of the fastest-growing and highest-paying jobs in the modern economy are in STEM fields such as computer science, engineering, and data analysis. By providing students with a strong foundation in these subjects, we can ensure that the next generation of Sri Lanka is well-equipped to succeed in careers that are in demand.”
He added that by partnering with a reputed government institution such as the NSF which is mandated to serve and strengthen the science and technology sectors in Sri Lanka, the Bank will be able to benefit from the expertise it offers to further develop its STEM projects for the benefit of a larger group.
STEM education helps foster critical thinking and problem-solving skills. By teaching students how to analyse data, design experiments, and solve complex problems, STEM education helps to equip them with the skills necessary to succeed in any field. In addition to preparing students for future careers and fostering critical thinking skills, the STEM education programme can also help promote innovation and drive economic growth in the country, the Bank said.
Commercial Bank’s largest commitment in the sphere of corporate social responsibility is to digital technology education in Sri Lanka. In September 2022, the Bank donated its 250th IT lab under its flagship community initiative to take digital literacy to even the most rural towns in the country. It was also a key partner in the national Smart Schools initiative where 165 schools were equipped with digital learning facilities. The Bank’s “Sipnena” online portal contains digitized school curriculum content, complete with practical videos and presentations to facilitate easy learning for students.
The National Science Foundation of Sri Lanka was established in 1998 as the successor to the Natural Resources Energy & Science Authority (NARESA) of Sri Lanka established in 1981. It facilitates research, development and innovation to create a knowledge economy. NSF is also engaged in capacity building, infrastructure development, technology transfer, knowledge creation and sharing in all fields of science and technology to improve the quality of life.
Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 12 years consecutively, Commercial Bank operates a network of 269 branches and 943 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.
Commercial Bank’s Chief Financial Officer Mr Nandika Buddhipala and National Science Foundation Director General Dr Sepalika Sudasinghe exchange the agreement in the presence of (from right) National Science Foundation Chairman Prof. Ranjith Senaratne and Commercial Bank’s Senior Manager – Sustainability, Women Banking & CSR Mrs Kamalini Ellawala and representatives of the two organisations.
Business
Kandy driving school hits 100,000-driver milestone, sets sights on expansion
Dhasuni Learners in Kandy have trained over 100,000 drivers, marking a major milestone in the institution’s journey from a modest start-up to one of the region’s leading driver education providers.
Founded on March 31, 2008, in the historic hill capital, the institution began with just a single van, one three-wheeler and one motorcycle. Built on what its founder describes as a commitment to road safety and public service, the driving school has since expanded into a multi-branch operation with six centres across the Kandy district.
Today, Dhasuni Learners has emerged as a significant player in Sri Lanka’s driver training sector, producing thousands of licensed motorists annually while also contributing to local employment generation. The organisation’s broader mission, according to its management, has been to foster disciplined and road-conscious drivers who adhere to traffic regulations.
Over the years, the institution has received multiple accolades for its service standards and entrepreneurial achievement. These include the ‘Best Young Entrepreneur Award’ and ‘Seva Taru Tuthe Award’ in 2018, followed by One-Star and Two-Star service ratings from the Ministry of Industries in 2019 and 2020. It has also secured top rankings from the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) at national and provincial levels.
More recent recognitions include the ‘Best Driving School Award’ in 2023 and the ‘Pitkal Award’ for business excellence, along with a 2025 honour from the Trade Front in collaboration with the Ministry of Industry.
by SK Samaranayake
Business
HNB Life Introduces “Privileged Protect”, a Future-Ready Protection Solution for a New Generation
Marking a significant milestone in its journey as it celebrates 25 years of trust and transformation, HNB Life has introduced Privileged Protect, a novel universal life insurance solution designed to meet the evolving financial and protection needs of modern Sri Lankans.
Developed as an evolved protection offering, Privileged Protect combines short-term premium commitments with long-term financial security, giving customers the flexibility to build wealth while safeguarding their future and loved ones.
Designed for individuals seeking comprehensive life protection with greater financial convenience, the product offers a shorter premium paying term while ensuring continued long-term coverage and investment growth opportunities. The policy also includes six compulsory protection benefits, dividend and loyalty dividend entitlements, partial withdrawal facilities after five years, and the ability to convert the maturity value into a monthly income stream. Customers are also provided the flexibility to continue optional riders beyond the premium paying term and enhance their investment through top-up premiums.
Commenting on the launch, Lasitha Wimalaratne, Executive Director / Chief Executive Officer of HNB Life, stated, “As we embark on a bold new chapter as HNB Life, the introduction of Privileged Protect reflects our commitment to continuously evolve alongside the changing aspirations of our customers. Today’s customer seeks greater flexibility, stronger protection, and smarter financial planning solutions that align with their lifestyle and long-term goals. This product has been thoughtfully designed to address those expectations while delivering the security and confidence our policyholders value. As we celebrate 25 years of excellence, we remain focused on shaping the future of insurance through innovative solutions that are relevant, accessible, and future-ready.”
Also sharing his thoughts, Dinesh Udawatta, Executive Vice President / Chief Technical Officer stated, “The modern customer is increasingly looking for insurance solutions that go beyond traditional protection. Privileged Protect is an evolved offering built around convenience, flexibility, and long-term value creation. It is designed for individuals who want to secure their future with shorter payment commitments while continuing to enjoy meaningful protection and wealth accumulation benefits. As HNB Life, we are committed to introducing customer-centric innovations that empower Sri Lankans to confidently plan for the future.”
With the launch of Privileged Protect, HNB Life continues to strengthen its portfolio of future-focused insurance solutions, reinforcing its commitment to protecting lives while empowering customers to achieve long-term financial wellbeing in an ever-evolving world. HNB Life PLC is licensed by the IRCSL and all policyholders are advised to read the policy document before concluding a sale to understand benefits, exclusions, terms and conditions.
Business
Sri Lanka’s Nazri Nizar elected to YPO global board in historic first
For the first time in the 76-year history of the Young Presidents’ Organisation (YPO), a Sri Lankan has been elected to its global board, with business leader Nazri Nizar securing a position on the governing body of one of the world’s most influential leadership organisations.
The appointment was confirmed at the YPO Annual General Meeting held on 21 May 2026. Nizar will serve as a YPO global board director from 2026 to 2029 and will concurrently serve as chair of the YPO Global Forum Committee.
Founded in 1950, YPO is a global leadership community comprising more than 38,000 chief executives, entrepreneurs and business leaders across 150 countries. Collectively, its members lead organisations generating approximately US$9 trillion in annual revenue, placing YPO among the most influential peer leadership networks in the world.
Unlike traditional business associations, YPO is built around the philosophy that leadership is a lifelong pursuit. Through a combination of executive education, peer learning and confidential leadership forums, the organisation provides a platform for business leaders to learn from one another’s experiences and navigate the personal and professional challenges that accompany leadership. At a time when organisations are navigating unprecedented technological, economic and social change, platforms such as YPO continue to underscore the importance of learning, collaboration and leadership across borders.
Nizar’s election follows years of service within the organisation. He has previously served as chapter chair of the YPO Colombo Integrated Chapter, been a member of the YPO South Asia Regional Board and, most recently, served on the YPO Global Forum Committee. In addition to his responsibilities as a global board director, Nizar will lead the Global Forum Committee, which oversees one of YPO’s most valued and enduring member experiences.
Commenting on the appointment, Nizar said YPO had played a defining role in shaping his leadership journey.
“YPO taught me that leadership is not about having all the answers. It is about continuous learning, trusted relationships and the willingness to grow through the experiences of others,” he said.
Describing the appointment as both humbling and inspiring, Nizar said he hoped the milestone would encourage more Sri Lankan leaders to engage with global platforms, contribute to international conversations and share their experiences with peers around the world.
Nizar currently serves as group managing director of Richardson Holdings, a diversified Sri Lankan enterprise with interests spanning engineering, infrastructure, renewable energy, manufacturing and out-of-home advertising.
His election represents a notable achievement for Sri Lankan business leadership and reflects the increasing contribution of Sri Lankan executives within international leadership networks.
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