Business
NDB Bank named Sri Lanka’s Best Digital Bank for SMEs at the prestigious Euromoney Awards 2025
National Development Bank PLC (NDB) was recently named Sri Lanka’s Best Digital Bank for SMEs at the Euromoney Awards for Excellence 2025, reaffirming its leadership in delivering progressive, technology-driven, and focused solutions that align with the nation’s strategic development priorities. This recognition reflects the bank’s strong commitment to empowering Sri Lanka’s SMEs in their transition to the digital space, one that is locally grounded yet aligned with global standards.
Euromoney, a leading provider of competitive intelligence and benchmarking insight for the global banking and finance industry, recognize institutions demonstrating innovation, performance, and leadership in their respective markets. Winners are selected following a thorough process comprising written submission by applicants, interviews by Euromoney analysts and independent market research. NDB’s selection as the Best Digital Bank for SMEs is a powerful endorsement of the Bank’s long-term digital vision, strategic execution, and its role in strengthening Sri Lanka’s entrepreneurial ecosystem.
Commenting on this prestigious accolade, Kelum Edirisinghe, Director and CEO of NDB Bank, stated, “This award is testimony to the extensive work we have poured in over the past years to support the most critical segment of our economy. It is true to our founding purposes and comes at a time when digital transformation is not just a strategic direction but a necessity for resilience and competitiveness. It also reflects our belief in the potential of the country’s SMEs and our role as a partner in their long term journey. With NEOS BIZ and TradeLinc, we are going beyond traditional banking, we’re empowering businesses with the digital tools they need to be agile, efficient, and future-ready”.
He also stated that: “NDB Bank’s recognition as Sri Lanka’s Best Digital Bank for SMEs further strengthens its position as a pioneer in the financial services industry, delivering impact-driven, inclusive and customer-centric solutions that not only enhances business operations but also positively contributes to the nation’s economy. Through its continued focus on innovation and meaningful partnerships, the Bank remains fully committed to re-shaping the future of SME banking in Sri Lanka”
At the heart of this achievement are two groundbreaking platforms one being NEOS BIZ and the other Trade Linc, developed and refined to offer SMEs the tools they need to thrive in a rapidly evolving business landscape.
Business
Foreign Minister defends India pacts, sidesteps transparency demand
In a press conference marked by both clarity and pointed omission, Foreign Affairs and Tourism Minister Vijitha Herath, yesterday offered a robust defence of two controversial bilateral agreements with India but conspicuously avoided committing to tabling their full texts in Parliament.
The minister’s appearance, billed as a year-opening briefing, took a sharp turn when questioned on the strategic implications of the India-Sri Lanka Defence Cooperation Agreement and Sri Lanka’s acceptance of the Indian Pharmacopoeia.
“No Indian military camps on our soil”
Responding in Sinhala to a question posed in English, Minister Herath moved first to allay what he suggested were widespread misapprehensions about the defence pact.
“This agreement is especially for data and information exchange purposes regarding drug trafficking, drug mafias, human trafficking, and any terrorist activities that could threaten regional security and peace,” Herath stated.
He emphasised that it would also facilitate “various support related to the defence sector.”
In his most definitive assertion, aimed at quieting a persistent national anxiety, the Minister declared: “We must clearly say that there is no plan or possibility of setting up Indian defence camps on Sri Lankan soil.” He categorised the pact not as a “defence agreement” but a “defence cooperation agreement in its real sense,” claiming it creates an “advantageous position” for Sri Lanka.
He linked recent post-‘Ditwah’ cyclone disaster support from India, as well as U.S. aerial support during recovery efforts, to the frameworks established by such cooperation agreements, arguing they have proven beneficial.
Indian Pharmacopoeia: A reputation-based advantage
On the equally contentious acceptance of the Indian Pharmacopoeia – a standard synopsis for drug manufacturing – Minister Herath framed it as a logical step that formalises existing practice.
“We already import a significant share of medicines from India,” he noted. The agreement, he explained, signifies the acceptance of medicines exported by a “reputed Indian pharmaceutical company” approved by its national regulators.
He assured the public that Sri Lanka’s National Medicine Regulatory Authority (NMRA) will continue to remain the monitor. “By entering into this, no disadvantage will happen to us. Only an advantage will happen… it will only be beneficial to us,” he emphasised.
The unanswered question
Despite the detailed assurances, the Minister pointedly ignored the final and arguably most critical part of the question posed by The Island Financial Review : whether the government would table the full text of the two agreements in Parliament for transparent debate and discussion.
This omission is likely to fuel further controversy, as opposition parties, civil society groups, and independent analysts have repeatedly demanded full parliamentary scrutiny, arguing that agreements touching on sovereignty and public health mandate the highest level of public transparency.
Tourism Pride
Shifting to his tourism portfolio, Minister Herath struck an optimistic note, citing record tourist arrivals and foreign remittances in 2025 as a sign of resilient recovery post-Ditwah.
The conference also touched on global affairs. When asked about the U.S. arrest of Venezuelan President Nicolás Maduro, Herath presented a nuanced governmental position. He stated that while his party, the JVP, condemns the action, the government’s official stance is to urge respect for national sovereignty in line with the UN Charter – a reflection of the coalition’s delicate balancing act between ideological roots and diplomatic pragmatism once in governance.
Minister Herath’s explanations provide the government’s clearest public rationale yet for the India agreements, directly confronting fears over militarisation and pharmaceutical quality. However, the deliberate sidestepping of the transparency query left a communication deficit at the heart of the press conference.
High-stakes diplomacy
It reflected a perception that while the administration is willing to defend its policy outcomes, it remains reluctant to subject the processes of high-stakes diplomacy to the full glare of parliamentary and public scrutiny. As these agreements continue to shape Sri Lanka’s strategic and health landscape, the call for their full disclosure is now accompanied by a louder question about the government’s commitment to open governance.
by Sanath Nanayakkare
Business
‘Vehicle-Testing Can Save Lives’
Automobile Association of Ceylon (AAC), in collaboration with the Federation Internationale de L’ Automobile (FIA) and under the UN Decade of Action for Road Safety has been consistently engaging in road safety enhancement programs for all citizens of Sri Lanka.
Current data indicates that while over 08 million vehicles are registered in the country, only heavy vehicles (less than 20% of the vehicle population) are subjected to compulsory road-worthiness tests.
Fatal accidents due to technical failures in vehicles are on the rise and the damage to lives and property is severe.
We also understand that there is a death every three hours and eight deaths per day in road accidents. This amounts to nearly 3000 deaths in road accidents per year.
AA of Ceylon has launched the “Vehicle Testing can Save Lives” project with the advice and support given to execute our campaign by the Minister of Transport, chairman, National Council for Road Safety (NCRC), Deputy Inspector General of Police (Traffic Division), Dr. Indika Jagoda, Deputy Director (Accident Service), National Hospital, president, Lions Club of Boralasgamuwa, Metro(Lions Club International – District 306 D 2) and other stake-holders to find a workable, low / cost solution for mandatory vehicle testing in Sri Lanka.
Therefore, this project aims to educate the public on the necessity of checking essential safety features in all vehicles and the benefits of same to all road users.
AAC has therefore respectfully requested Anura Kumara Dissanayake, President of the Democratic Socialist Republic of Sri Lanka, to consider implementing the proposal we have submitted to him, to minimize fatal accidents, injuries to people and damage to vehicles and property due to road accidents and to also implement a rule to have compulsorily road-worthiness checking of all vehicles. (AAC)
Business
INSEE Lanka appoints new Chief Executive Officer
Siam City Cement (Lanka) Limited (INSEE Lanka) has announced the appointment of Eng. Thusith C. Gunawarnasuriya as its new Chief Executive Officer, effective 01 January 2026. He succeeds Nandana Ekanayake, who will continue to serve as Chairman, ensuring leadership continuity and strategic stability for the organisation.
A long-standing contributor to INSEE’s journey, Thusith has worked with the company through its evolution under Holcim (Lanka) Ltd, LafargeHolcim and INSEE, playing pivotal roles that influenced both operational progress and strategic direction.
Rejoining INSEE Lanka in January 2025 as Chief Operating Officer, he has since demonstrated exceptional leadership, driving topline growth, improving EBITDA performance, and strengthening talent development initiatives that enhanced organisational capability and business outcomes.
His expertise in business strategy, operations excellence, and supply chain transformation is well-recognised, supported by over 25 years of multi-industry and multi-country leadership experience. His career includes senior positions at Lion Brewery (Ceylon) PLC, Hemas Manufacturing, Fonterra Brands Lanka, GlaxoSmithKline, MAS Active, and DMS Software Engineering. His international exposure spans India, Bangladesh, and Thailand.
Thusith is a proud alumnus of Dharmaraja College, Kandy, and holds a BSc (Hons) in Electrical & Electronic Engineering from the University of Peradeniya, an MBA from the University of Colombo, and an MSc in Business & Organizational Psychology from Coventry University, UK. He has completed executive leadership programs at IMD (Switzerland) and the National University of Singapore. He is also a member of IEEE (US), CILT (UK), ISMM (Sri Lanka), and IESL (Sri Lanka).
Chairman’s Quote – Nandana Ekanayake:
“Thusith’s deep understanding of our business, strong operational mindset, and proven leadership make him the ideal successor to lead INSEE Lanka into the next phase of growth. His experience within INSEE and across multiple industries, positions him well to deliver on our long-term ambitions and uphold the values that define the organisation.”
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