To strengthen Central Bank’s ‘Digital 2020’ Vision
LB Finance (LBF), country’s leading Non-Banking Financial Institution, recently joined the National Digital Payment platform Lanka QR via its popular mobile wallet LB CIM (Cash-In-Mobile). LankaQR is the national QR standard for local currency payments introduced by the Central Bank of Sri Lanka (CBSL). Following the integration CIM mobile wallet becomes interoperable for all four-transaction types of Lanka QR, enabling its users, to pay and accept payments from other mobile wallets offered by third party Banks and Financial Institutions.
LB CIM smart phone application is available for Android & iOS based devices. It comes in the form of two separate mobile applications; ‘CIM Customer app’ & ‘CIM Business app’, to cater to the specific needs of customers and retail merchants. LB CIM is proud to be one of the few tri-lingual mobile wallets available in the market and champions the concept of simplicity in its UI/UX offering. Company believes CIM’s ultra-simple design gives it an advantage over the completion to become a truly inclusive digital payment solution to Sri Lankan masses.
The CIM customer app serves as an interest-bearing digital savings account (5.5% p.a.), that sits inside the users smart phone and functions as a wallet that can be used at any time to make payments to any Lanka QR merchant by simply scanning the merchant’s QR code. Customers can use the CIM app to link any 3rd party bank account through Just-Pay network and top up their wallet, transfer money instantly to any bank, pay their credit cards, utility bills, mobile reloads thus eliminating the need to go in search of ATMs to withdraw money for daily cash purchases. Existing customers of LB Finance can also use the CIM app to service their loans/leases and inquire fixed deposit details at the convenience of their smartphone.
Elon Musk launches profane attack on X advertisers
In a profanity-laced outburst, Elon Musk has slammed advertisers that have left X, warning they will kill the social media platform.
At an event in New York, he accused companies that have joined an ad boycott of the site formerly known as Twitter of trying to blackmail him.Some firms have paused advertising on X amid concerns over antisemitism, including a post from Musk himself.
“Go [expletive] yourself,” the billionaire said in an interview.
The Tesla and SpaceX boss apologised on Wednesday for that post, saying it might be the “dumbest” thing he has ever shared online.
But it was his response to a question about an advertising boycott by companies including Disney, Apple and Comcast that caused a stir at the gathering of leaders from the worlds of business, politics and culture. “I don’t want them to advertise,” Musk said at the New York Times’ DealBook Summit. “If someone is going to blackmail me with advertising or money go [expletive] yourself.
Go. [Expletive]. Yourself. Is that clear? Hey Bob, if you’re in the audience, that’s how I feel.”
He was apparently referring to Disney chief executive Bob Iger, who spoke at the summit earlier in the day.
In the room with Musk was Linda Yaccarino, X’s chief executive, who has been charged with trying to bring back advertisers to the platform.Musk also said that advertisers could kill X. “What this advertising boycott is going to do is it’s going to kill the company,” he said. “The whole world will know those advertisers killed the company, and we will document it in great detail,” he added.
Ms Yaccarino has since reposted what she called his “candid interview”, adding her perspective on advertising that “X is standing at a unique and amazing intersection of Free Speech and Main Street — and the X community is powerful and is here to welcome you”.
Musk has been on a visit to Israel after he last month appeared to personally back an antisemitic conspiracy theory. “I’m sorry for that tweet… it might be literally the worst and dumbest post that I’ve ever done,” he said on Wednesday. The boycott isn’t just to do with that post, though.
Many advertisers had already decided to spend their dollars elsewhere.
ILO together with EFC launches pilot project to address employee grievances at the workplace
Five companies volunteer to participate in the project
By Sanath Nanayakkare
Grievance handling in Human Resource Management (HRM) refers to the process by which employee complaints, concerns, or disputes are formally addressed and resolved. The goal is to provide a structured channel for employees to express their concerns or report issues they are facing in the workplace for the benefit of the company, the management and the employees.
True to those values, the International Labour Organization (ILO) recently invited the Employers’ Federation of Ceylon (EFC) to initiate a pilot project to launch Grievance Handling Guidelines that were formulated through several workshops conducted in 2019 in consultation with ILO constituents.
Giriulla Mills Ltd, HNB Assurance Ltd, HNB General Insurance Ltd, Cambio Software Engineering and Taj Bentota Resort and Spa, volunteered to participate in this project. They represented the manufacturing, finance, IT, and hospitality sectors respectively. The pilot project was formally launched on 20th September 2022.
EFC’s team of trainers visited these selected companies and engaged in discussions with their management to gain insights into their existing employee grievance handling systems.
They also gathered feedback from employees to assess their satisfaction with present grievance mechanisms. Based on the findings, EFC team developed customised grievance handling policies aligned with each organisation’s culture and specific requirements of each company to ensure practical implementation of the same.
All these grievance policies were designed in adherence to the Guidelines on Grievance Handling which were established for Sri Lanka in 2019 through workshops conducted by the ILO.
Following the development of these policies, four training sessions were conducted for the management teams of the participating companies. During these training sessions, the policies were presented in detail. The sessions also aimed to provide a comprehensive understanding of what constitutes employee grievances, the importance of addressing them promptly and the potential consequences if grievances are left unattended.
In addition to policy dissemination, the training sessions also focused on equipping managers with the necessary skills to effectively handle employee grievances. This included discussions on communication strategies, conflict resolution techniques, and the importance of empathy and active listening when addressing employee concerns.
NSB Nawala branch relocated at spacious new premises
NSB Nawala Branch which was relocated recently, was first established in the year 2003 and had been renowned for its customer service over a span of two decades.
Anoma Gomes, Deputy General Manager of National Savings Bank graced the occasion of the opening of the newly relocated Nawala Branch at the new address No. 221, Nawala Road, Nugegoda.
Furthermore, the former General Manager / CEO of NSB, Eastman Narangoda, Dr. Anura Wickramasinghe of the Open University of Sri Lanka, Dr. Hector Jayawardane graced the occasion as special invitees.
Higher Management of NSB and invited guests including Asst. General Manager – Nalika Wijesinghe, Regional Manager – Charini Ekanayake, Branch Manager of Nawala Branch – Chaminda Piyathilake also attended this event.
Equipped with ATM facilities and state-of-the-art banking facilities the relocated NSB Nawala Branch is housed in a spacious premises to deliver a supreme customer service catering to all the financial requirements of the public.
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