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LOLC Finance bags five golds at Technnovation Awards 2022

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LOLC Finance PLC proved its excellence yet again in the digital financing sphere, competing with the country’s prestigious banks and NBFIs to win five top awards.

LOLC Finance was bestowed with the Gold titles for: NBFI of the Year for Financial Inclusivity, NBFI of the Year for Excellence in Customer Convenience, Financial Institution of the Year for Best Digital Payment Strategy, Best Mobile Application for Retail Payments Via Just Pay (Banks and NBFI), Overall Award Excellence in Inter-Bank Digital Payments (NBFI) and a Merit Award for the Most Popular Digital Payment Product (Banks and NBFI-Mobile Payment App).

These achievements by LOLC Finance marks a period during which LOLC revolutionised Sri Lanka’s rapidly growing digital footprint in the recent past, capturing the fin-tech landscape faster than any local financial service provider in the industry. LOLC Finance has risen to be the pioneer in the most innovative digital transformation in Sri Lanka.

The 4th edition of Sri Lanka’s first and the only payment technology innovation awards LankaPay Technnovation Awards by LankaClear was held on 29th March 2022 with the theme of ‘Honouring the Digital Superheroes’. The awards recognise member banks and non-banking financial institutions who have excelled in electronic transactions during a financial year. All submissions for the awards were judged by a committee of esteemed industry experts, based on the level of innovation, impact, dynamism and uniqueness.

LOLC Finance was one of the first financial institutions in Sri Lanka to break into the mobile technology domain with the launch of the LOLC Real Time online portal and the mobile app in 2014 and 2015, respectively. This first move gave the company a strong competitive advantage in the market, which has helped it make further inroads into the mobile technology space via ground-breaking new solutions such as iPay which was launched in 2017.

Commenting on winning awards, Conrad Dias (Director/CEO) of LOLC Finance said, “Winning the awards is not just a recognition of what we have done in digital banking and financial services, it is also a testament to the long term commitment towards transforming financial services to digital, creating customer convenience, trust and confidence. It was our night at the Technnovation awards, bagging the most gold awards at the event. Amidst an adverse global pandemic, we are truly honoured to be the winner of five gold titles. These honours by LOLC Finance will become the hallmarks of excellence in the NBFI sector in Sri Lanka and will improve the inclusive national drive towards transforming the Sri Lankan economy to a cashless podium”.

LOLC Finance was one of the first NBFIs that received the mandate to introduce Foreign Currency Savings accounts and the first NBFI to register for SWIFT transactions in Sri Lanka. In the internet and mobile banking landscape, the company became one of the first NBFIs to connect with the CEFTS. LOLC Finance iPay has now advanced from a mere payment gateway into a beyond lifestyle payment application offering an exceptional service. LOLC Finance is rated (SL) A (Stable) by ICRA Lanka Limited and is licensed by the Monetary Board of the Central Bank of Sri Lanka.



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Bambalapitiya Railway Station renovated under the “Dream Destination” project opened to the public

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Prime Minister Dr. Harini Amarasuriya stated that Sri Lanka is now creating a common dream as a nation and that the Government’s objective is to make public transport the convenient choice for the people. The Prime Minister made these remarks while participating in the ceremony held to open the renovated Bambalapitiya Railway Station under the “Dream Destination” project.

The renovated Bambalapitiya Railway Station was opened to the public on 10 September under the “Dream Destination” project, jointly implemented by the Ministry of Transport, Highways and Urban Development and the Sri Lanka Railways Department in line with the Clean Sri Lanka national programme. Prime Minister Dr. Harini Amarasuriya participated in the occasion.

The Prime Minister also inspected the renovated railway station, as well as the new pedestrian overpass providing access to the railway station, constructed by the Road Development Authority for which the Dawoodi Bohra community in Sri Lanka contributed Rs. 60 million.

Addressing the gathering, the Prime Minister expressed her special appreciation to the Bohra community for taking the initiative to renovate and provide the people with improved facilities at the Bambalapitiya Railway Station, a busy and well-known location in the Colombo District.

She stated that the renovation of public spaces and the provision of improved facilities have contributed to generating greater interest and a more positive perception of public transport among the people.

The Prime Minister also expressed her appreciation to the Minister of Transport, Highways and Urban Development, the Deputy Ministers and the staff for their contribution towards improving public transport services and attracting greater public interest towards these services.

The development of a country is not determined by the number of private vehicles it has. It is determined by the manner in which people use public transport. The Government’s objective is to improve the public transport service, which has disappointed the people for many years, and create a situation where people feel that public transport is more convenient and safer than using a private vehicle. The Government’s commitment to public transport is clearly demonstrated by the increased allocation of funds for the sector. The ’Dream Destination’ programme is another significant initiative under this effort, bringing together State institutions and the private sector to contribute to national development,” the Prime Minister stated.

“A country does not belong only to the Government. A country is the home for everyone who lives in it. It is the responsibility of all of us to contribute to that home through our knowledge, labour or resources. For a long time, we did not have a common dream as a country. Today, we feel that such a dream is beginning to emerge.

“We have a collective dream. The journey towards that dream is the collective journey we have begun together to build our country, which is our common home.

“What we witness here today is the active participation of our people, our diverse communities and the private sector in this journey. Such collective participation is essential to moving a country forward. Therefore, we deeply appreciate this contribution.

“The Bohra community reminds us today of the importance of this collective spirit. We have now embarked on a collective journey. We share a common dream of what our country should be, what the future of our country should look like and what kind of experience life in our country should offer. The Clean Sri Lanka national programme further strengthens these objectives,” the Prime Minister further stated.

Addressing the gathering, Deputy Minister of Urban Development Eranga Gunasekara stated that increased funding would be allocated to the Sri Lanka Railways Department for development activities next year. He noted that public transport and railway services had not previously received sufficient attention from the Government, but that this would change moving forward.

“Our transport services are progressing step by step, and the railway system is a key component of this development. Accordingly, on the instructions of the President, we will commence the electric railway system, which has long been a dream for our country, next year. We expect to introduce electric railway services from Maradana to Makumbura, from Maradana to Panadura and from Maradana to Ragama. We will also commence work to extend the Kelani Valley railway line from Avissawella to Ratnapura.

He also appreciated the contribution made by private institutions towards the “Dream Destination” project without seeking any promotional benefits in return.

Speaking on behalf of the Dawoodi Bohra community, Khuzaimah Jefferjee stated that the Dawoodi Bohra community, which has been part of Sri Lanka’s social, cultural and economic landscape for more than 150 years, believes that being a citizen of the country means more than simply living in the country. It means contributing to the country, caring for it and leaving behind a better country for future generations.

He said that, as part of this responsibility, the community had taken steps to renovate, modernise and beautify the Bambalapitiya Railway Station. He added that the community hopes these efforts will make the daily journeys of passengers a cleaner, safer, more convenient and dignified experience.

The occasion was attended by the Deputy Speaker of the Parliament of Sri Lanka Dr. Rizvie Sally, Deputy Minister of Religious and Cultural Affairs Muneer Mulaffer, Mayor of the Colombo Municipal Council Vraie Cally Balthazar, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Prime Minister Pradeep Saputhanthri, General Manager of Sri Lanka Railways Padmapriya, Janab Amil Saheb Ibrahim and representatives of the Dawoodi Bohra community, officials of the Clean Sri Lanka programme and several others.

[Prime Minister’s Media Division]

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Steps being taken to reduce paper usage in parliament and the public sector through digitalisation – PM

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Prime Minister Dr. Harini Amarasuriya stated that steps are being taken to reduce the use of paper in Parliament and the public sector through digitalisation.

The Prime Minister made these remarks in Parliament on Thursday (10 September) in response to a question raised regarding digitalisation and the use of paper.

The Prime Minister  further stated:

“The total expenditure incurred in 2023, 2024 and 2025 for the provision of Hansard reports, Order Books, Agendas and other parliamentary printed materials provided to Members of Parliament and Ministers for use within the Chamber is Rs. 45.3 million in 2023, Rs. 58.7 million in 2024 and Rs. 73.1 million in 2025.

All these printed materials have been produced based on requests made by Parliament. At the same time, a programme is currently being developed to reduce the use of paper.

In accordance with a request made by the Secretary to the Treasury to the Secretary-General of Parliament, the Committee on Parliamentary Business considered the possibility of submitting reports to Parliament solely in digital format in the future. It was decided to conduct a survey to ascertain the preference of each Member of Parliament. Based on the results of the survey, arrangements will be made to provide relevant documents digitally to Members who prefer digital copies, while printed copies will be provided to those who prefer printed versions.

Following the completion of this survey, arrangements will be made to implement the programme on a date to be determined by the Committee on Parliamentary Business.

Similarly, all ministries and government institutions are currently taking steps towards digitalisation while reducing their use of paper. However, this process will take some time. In this manner, particularly the exchange of files and many other such processes can be facilitated through digital systems in the future.

For example, in the Ministry of Education, applications for leave submitted by university lecturers for overseas travel were previously submitted to the Ministry in printed form. The entire process has now been digitalised. The Ministry, through the University Grants Commission, provides approval for such leave applications through a digital process. Ministries across the government are taking similar measures. We believe that once digital systems are fully established, we will be able to significantly reduce the use of paper.

Responding to a question regarding measures to reduce the weight of schoolchildren’s bags, the Prime Minister stated:

The weight of students’ books will be reduced through the activity-based learning process introduced under the new education reforms. Since the books will be kept in the classroom, students will no longer need to carry them back and forth. They will only need to take the books home at the end of the term after completing their work.

From 2027, a module-based learning process will be introduced for Grade 6. Modules will not consist of large textbooks; instead, students will be provided with modules relevant to each subject for the particular term. Therefore, this system will significantly reduce the weight of schoolchildren’s bags.

[Prime Minister’s Media Division]

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INS Udaygiri departs Colombo concluding formal visit

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The Indian Naval Ship (INS) Udaygiri departed the Port of Colombo today, 11 September 2026, following the successful completion of a four day official visit.

On her departure, the Sri Lanka Navy bade farewell to the ship in accordance with time-honoured naval traditions.

During the visit, naval personnel from both navies engaged in joint initiatives to strengthen bilateral ties. These included a friendly volleyball match, a beach cleanup along the Galle Face
promenade, and a training exercise on Visit, Board, Search, and Seizure (VBSS) conducted by the Sri Lanka Navy Special Boat Squadron (SBS).

As part of the visit, the Indian Navy handed over a consignment of spares and supplies to the Sri Lanka Navy. Visiting crew members also toured key tourist attractions in and around Colombo.

Official interactions of this nature aim to enhance cooperation and knowledge-sharing between the two maritime forces, supporting joint responses to evolving regional maritime challenges.

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