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HNB partners with Expo Property Developers

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From left to right: Rajika Nishantha (Mortgaged Advisor, HNB), Sampath Dodanwela (Manager - Home & Personal Loans, HNB),. Kanchana Karunagama (AGM / Head of Retail Banking, HNB), Gratien Fernando (Director, Expo Property Developers), Johny Fernando (Director, Expo Property Developers), and . Pavithra Pathmanathan (Executive – Sales & Marketing, Expo Property Developers).

=To empower prospective homeowners with tailored financial solutions

HNB PLC, Sri Lanka’s leading private bank, has signed a Memorandum of Understanding (MOU) with Expo Property Developers (Pvt) Ltd, to promote home loans for Expo Grand Condominium buyers. The collaboration offers prospective homeowners tailored financial solutions with special benefits, valid until December 31, 2025.

Commenting on the partnership, HNB AGM / Head of Retail Banking, Kanchana Karunagama, said: “At HNB, we are committed to empowering individuals and families to achieve their dream of homeownership through accessible and innovative financial solutions. Our collaboration with Expo Property Developers allows us to deliver unparalleled value to prospective buyers of the Expo Grand Condominium, offering them competitive interest rates, flexible repayment options, and personalized services to ensure a seamless home-buying experience.”

As part of the promotion, HNB will offer attractive interest rates, flexible repayment plans, and doorstep mortgage advisory services. The bank also provides end-to-end support with documentation, ensuring quick loan approvals.



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Question of ‘data privacy’ looms large in govt’s DPI strategy

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BIMSTEC Digital Conclave 2025. Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy- second from left and High Commissioner of India, Santosh Jha - fifth from left

Hans Wijayasuriya tries to get the elephant out of the room

By Sanath Nanayakkare

As the government of Sri Lanka accelerates its digital public infrastructure (DPI) strategy, the question of data privacy looms large.

The Chief Advisor to the President on Digital Economy, Dr.Hans Wijayasuriya, stepped in to address this critical issue head-on, in a recent keynote at the BIMSTEC Digital Conclave 2025 held at Taj Samudra, Colombo on February 7-8.

Wijayasuriya emphasized the need for robust data protection frameworks to ensure public trust in digital initiatives as the collection and use of personal data may raise significant ethical and legal questions in Sri Lanka.

Dr. Wijayasuriya advocated for a balanced approach, combining innovation with stringent privacy safeguards, at a time the public in Sri Lanka is split down the middle on the implementation of Digital Public Infrastructure (DPI), and rolling out bio-metric digital ID to provide many key government services online, with the support of tech companies in foreign countries.

Furthermore, the Public Digital Conferences being held in Colombo these days with the participation of foreign players are likely to result in policy action and implementation on the ground at any point in time.

In these circumstances, his insights served as a timely reminder that data privacy is not just a technical challenge, but a cornerstone of sustainable digital transformation.

Taking a question from the moderator at the Conclave whether DPI would compromise the security interests of the Sovereign he said,” I think the question of Sovereignty’s security comes second because fundamental security and control assemblies come first. And this can be subject to proportionate assessment of risk and granular data in use. Different types of data need different treatments in terms of risk mitigation. So, what we strive for is ‘risk proportional safeguards’ plus federated digital platforms with a focus on privacy and data control by not centralizing user information on one single platform. We should have a very well-architectured system to ensure internal and sovereignty-related security in the transferring of data. Sri Lanka has a Data Protection Act in force. Sri Lanka also has a Data Protection Authority in place.This means there is a strong legal framework as well as an institutional framework to implement the mechanisms for data protection. Looking at the cross-border scenario, sovereignty interests are critical, and therefore, we will adhere to the principles based on the categorization of data. Let me add another point about Application Programming Interfaces (APIs). When an additional API is opened to enable seamless integration and automation between different staking platforms and applications, the demand for security escalates. That is the nature of this exercise. If we are to benefit from open architecture systems, we need to consider these issues and build robust systems to mitigate the risks,” he explained.

“There are many layers which lend themselves to integration and the extension of horizontal layers. We should look at multiple dimensions for citizen-centric services without compromising on national security. Also, we will look at businesses in a cross-border angle and in an inclusion angle, where business to business (B2B) interfaces can especially boost trade volumes and transactions in the region,” he said.

High Commissioner of India Santosh Jha speaking at the Conclave said,” “India has over the past decade or so undergone a digital transformation at an unprecedented pace and scale, with unparalleled benefits to all sections of the society. At a time when mobile and data access were seen globally as a convenience, India adopted a model that envisioned digitization not only as a means of connectivity – but as a medium of equity and opportunity. And that to me is the essence of Digital Public Infrastructure.”

Responding to a question from The Island Financial Review as to which foreign companies in which countries would get the contract awards, Eranga Weerarathna, Dep. Minister of Digital Economy replied,” We will explore working with local tech companies. We will also need to outsource foreign collaboration in this exercise to leapfrog in DPI. Wherever we see value, we will work with foreign companies while ensuring the protection of very sensitive data.”

During the networking time, a local ICT expert was overheard saying, ‘The elephant is out of the room, and policymakers need to address it.'”

On Feb. 5, key officials of the United Nations Development Programme (UNDP) and Asian Development Bank took part in the Sri Lanka Digital Public Infrastructure (DPI) Summit held in Colombo where they pledged support to Sri Lanka to become a digital economy powerhouse in the region. The Ministry of Digital Economy had put together that two-day summit in partnership with the UNDP in Sri Lanka, the ADB and key collaborators including Huawei.

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Aitken Spence announces appointment of new chairperson,

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Stasshani Jayawardene – Chairperson Aitken Spence PLC

Stasshani Jayawardena

Aitken Spence is deeply saddened on the passing away of its honourable Chairman, Deshamanya D H S Jayawardena (Harry Jayawardena) who was known for his visionary leadership and unwavering dedication that have been instrumental in shaping the company’s success. The company expressed its deepest gratitude to Deshamanya D H S Jayawardena for his remarkable contributions and extends its heartfelt condolences to the Jayawardena family during this difficult time.

In light of this profound loss, the company is pleased to announce the appointment of Ms. D S T Jayawardena (Stasshani Jayawardena) as the new Chairperson with immediate effect. Ms. Jayawardena brings a wealth of experience and a strong commitment to continuing the legacy of excellence established by her predecessor.

Ms. Jayawardena has been an integral part of Aitken Spence for over 10 years, serving in various leadership roles and contributing significantly to our growth and innovation. Ms. Jayawardena marks several milestones for Aitken Spence PLC as the youngest Board Member, and the first female member on the Board. Her appointment demonstrates the company’s trust in her capability to guide Aitken Spence towards continued success and innovation.

Ms. Jayawardena has over 15 years of experience in the management of companies under the guidance of her late father, Deshamanya D H S Jayawardena. She has been managing and providing strategic direction to Aitken Spence Group Companies, including the tourism sector, and carries with her a wealth of knowledge and experience which is imperative for the continuous growth of the Aitken Spence Group of Companies, following the vision of the late Deshamanya D H S Jayawardena.

Ms. Jayawardena was also appointed as Chairperson of Aitken Spence Hotel Holdings PLC and Browns Beach Hotels PLC and, Deputy Chairperson of Lanka Milk Foods (CWE) PLC, and continues as Director of Melstacorp PLC, Distilleries Company of Sri Lanka PLC.

She is a graduate of St. James’ and Lucie Clayton College and Keele University in the United Kingdom, Emeritus Institute of Management, Singapore and an Associate Alumni of University of Cambridge (Judges Business School), United Kingdom. Ms. Jayawardena was the youngest intern to work under US Senator Hilary Rodham Clinton and the Former US President Bill Clinton in 2003.

In recognition of her work and commitment to inspire, she has been recognised on several local and international platforms. Ms. Stasshani Jayawardena’s extensive leadership in diversified conglomerate structures has reinforced her capability to lead Aitken Spence into a new era of success.

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Cargills Bank and Mastercard collaborate to power ‘Tapit’

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From left: Kaushi Fernando - Head of Card Services | Cargills Bank Limited, Senarath Bandara - Managing Director and CEO|Cargills Bank and Sandun Hapugoda - Country Manager, Sri Lanka and Maldives Mastercard

Cargills Bank and Mastercard have collaborated to launch Sri Lanka’s first contactless sticker payment solution. Titled ‘Tapit’, the new solution promises to revolutionize everyday transactions for Mastercard credit and debit cardholders.

Combining Mastercard’s global expertise in payments with Cargills Bank’s local insights, the ‘Tapit’ solution will not only promote digital payments but will also advance contactless transactions, thereby furthering financial inclusion in the country and supporting its digital transformation.

‘Tapit’ is an adhesive payment enabled sticker that can be easily pasted on a mobile phone, handbag or any other item of day-to-day use which has a flat surface. It uses advanced Near Field Communication (NFC) technology and is protected by military-grade EMV chip encryption and security protocols.

Cardholders can simply paste the sticker on the item of their choice and begin their contactless payments journey. To complete a transaction, all they need to do is hold the item close to the Point of Sale (POS) device. The transaction is concluded instantly with an SMS alert in real time.

Senarath Bandara, Managing Director and CEO, Cargills Bank, said, “This contactless sticker card represents Cargills Bank’s commitment to innovative banking solutions. Combining state-of-the-art technology with convenience and security, we are enhancing customer experience while advancing Sri Lanka’s digital banking landscape.”

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