The Nation Sunday Print Edition - page 22

Page 6 Sunday, October 20, 2013 gain
banking
Bank of Ceylon (BoC), Sri Lanka’s num-
ber one Bank, is renowned for inculcating
the savings habit among Sri Lankans by
encouraging them to save and win exiting
prizes. Further, the Bank rewards such ac-
count holders who are partnering in nation-
al development projects where BOC is a fully
state-owned bank in the country.
BOC Mega Waasi Season two is offering
gifts worth of Rs.84 million with more than
4,250 gifts to be offered through three draws
throughout the period. The account holders
with a minimum balance of Rs.10,000for a
continuous period of four months are quali-
fied to enter the BOC Mega Waasi Season
two.
Those who maintain Rs.10,000 and mul-
tiples of Rs.10,000 in their savings accounts
(Normal Savings, Ran Kekulu, 14 plus, 18
plus, Kantha Ran Ginum, Senior Citizens,
Ran GoviThanpathu, RanaviruGinum) and
personal current accounts will be eligible for
the BOC Mega Waasi Season II. Each addi-
tional Rs.10,000 earns an extra chance.
Save your money with BOC before Novem-
ber 30 to be entitled for Mega Waasi grand
final draw. Customers who maintain the re-
quired balance from December 1 to March
31,2014 will be eligible for the Grand final
draw of BOC Mega Waasi season II. The more
the customers
save the more
chances they have to
be a lucky winner.
A luxury Kyron Jeep is the final grand
draw prize. There will be 10 Panda Cross
cars offered province-wise at the final draw.
Other than that, there will be seven lucky
millionaires, 60 lucky winners who will get
Rs.100,000 each, 4,080 winners of Rs.10,000
each from the three draws of BOC Mega Waa-
si season II. For Kantha Ran Ginum account
holders there will
be a special arrange-
ment offering 100 tours to
Bangkok from the three draws.
Customers could visit any of the BOC
branch island-wide to open a savings or per-
sonal current account to enter to the Mega
Waasi grand final draw. In order to facilitate
customer convenience, the bank’s main office
now offers a 24-hour banking service that is
available 365 days of the year through its 615
located branches island-wide.
BOC ‘Mega Waasi II’
begins
NDB together with the Ceylon Chamber
of Commerce (CCC) and the Sabaragamu-
wa Chamber conducted a special business
forum in Ratnapura targeting the Tea sec-
tor with the objective of fostering link-
ages between Colombo-based enterprises
and regional businesses. The workshop
conducted by industry heavyweights and
specialists was received with much en-
thusiasm by those in the sector and was
attended by a majority of the private tea
factory owners and tea smallholders in
the Ratnapura and Kalawana areas.
Welcoming the guests and the partici-
pants to the business forum, Chief Exec-
utive Officer of NDB Rajendra Theagara-
jah said, “Regional economic growth is
vital for propelling the national economy
towards its growth targets and thus re-
gional business forums such as this are
significant in their contribution to this
end. The objective of today’s forum is
to facilitate a dialogue between the key
players in the tea industry of the region
and several well known industry special-
ists and professionals to share the best
practices and related insight for further
development of the industry. Both NDB
and CCC place a lot of weight upon fi-
nancial inclusion and the development
of regional SMEs and we hope to conduct
more programs of this nature in time to
come”.
Research Economist of the Institute
of Policy Studies Chatura Rodrigo trig-
gered an insightful discussion about the
current status of the economy and its
implications and opportunities for re-
gional businesses to contribute to the
national economy. NDB shared knowl-
edge on Finance in the areas of access
to capital, long-term business planning
and business sustainability at the forum,
introducing a range of customized finan-
cial solutions offered by the Bank for the
tea sector especially to the benefit of tea
smallholders.
Improvement of energy efficiency in
small tea factories was another timely
and relevant topic discussed at the forum
led by D. D. Ananda Namal, the
P a s t
Chairman of Sri Lanka Energy Manag-
ers Association (SLEMA) and Director
General of National Engineering Re-
search and Development Center (NERD).
The workshop closed with a panel dis-
cussion on ‘the way forward for increas-
ing regional contribution for national
economic growth’ led by the distinguished
panellists providing the opportunity for
participants to raise concerns, expand
knowledge and get clarifications on their
queries.
From left: Managing Director of CIC and Vice Chairman of CCC Samantha Ranatunga,
Research Economist of the Institute of Policy Studies Chatura Rodrigo, President of the
Sabaragamuwa Chamber L. H. D. Shantha Lal, Past Chairman of CCC and moderator of
the discussion Dr. Anura Ekanayake, Director and Past President of the Sabaragamuwa
Chamber C. J. Gunaseela, and Chief Operating Officer of NDB Indrajit Wickramasinghe
NDB to boost tea sector
Al-Falaah bags
double Gold
Al-Falaah, the Islamic Business Unit (IBU)
of Lanka ORIX Finance PLC (LOFC) has
scored double Gold at popular International
Annual Report Competitions, the ARC In-
ternational Awards (ARC) and the League
of American Communications Professionals
(LACP) Vision Awards.
Al-Falaah won the accolades for itsAnnual
Review for 2011/2012 tilted “Choice”. In ad-
dition to the two Gold Awards at ARC and
LACP respectively, Al-Falaah also took home
a Silver accolade at ARC and was placed
amongsttop 10 Sri Lankan Annual Reports
at LACP.
Metals won by Al-Falaahwere Gold for
“Printing and Production” category and Silver
for “WrittenText in the Financial Services” cat-
egory (ARC Awards) and Gold for “Financial
Services” category (LACP Vision Awards).
The ARC Awards are popularly known
as the “Academy Awards” of Annual Re-
ports. It was said that Sri Lanka has won a
record number of 77 awards at this year’s
competition in which 2,260 entries from 34
countries have been made. Both ARC and
LACP Awards felicitate excellence in Annual
Reports produced worldwide, and are re-
nowned globally.
Commenting, General Manager of Al-Fa-
laah IBU, KrishanThilekaratne said, “I am
indeed pleased and proud of Al-Falaah’s
achievement at these prestigious global
awards and the diligence with which this
young and dynamic business unit has pro-
gressed over the years. I thank Smart Media,
the Annual Report Company for the world-
class design and production of our report
and the Al-Falaah IBU team for their relent-
less commitment towards cementing the Al-
Falaah brand name at international level.”
During the FY 2011/12 Al-Falaah recorded
a year of steady growth with a PBT increase
of 35.99 percent in comparison to the pre-
vious FY. In addition, Al-Falaah recorded
Al-Falaah Junior savings portfolio growth of
approximately 225 percent together with a
bottom line PAT growth of 32.81 percent. Al-
Falaah’s contribution to the balance sheet of
parent company LOFC is approximately 10
percent, indicative of its consistent growth
within the LOLC Group.
Al-Falaah was established in 2007 as an
alternate to conventional financing solutions
offered by the LOLC Group, and its financial
solutions are in keeping with Shari’ah prin-
ciples of profit sharing and ethical business
practices. Although it is deeply rooted in faith
based principles, Al-Falaah offers its financial
solutions to both the Islamic and non-Islamic
communities alike, making it an integral part
of inclusive financial services offered by
LOFC.
General Manager of Al-Falaah Islamic
Business Unit Krishan Thilekaratne
DVB fosters education in North
In an on-going venture to support
and develop the local community, DFCC
VardhanaBank(DVB)Kilinochichibranch
came forward to support Gopika Raja-
rathnam, a talented student with bright
prospects. Marking a first in the history
of St Theresa Girls’ School in Kilinochi-
chi, Gopika topped the batch, obtaining
3As in her A Levels. Commemorating
the accolade, the Kilinochichi branch of
DVB presented Gopika with a six-month
internship at the branch.
DVB also rewarded her at the school’s
prize giving and asked what she would
like to have, for which her humble reply
was that she would like to have a bicycle.
It was one of those days during the war
that she was born in Iranamadu, where
she never knew of a permanent home.
The family had to keep moving from
place to place to be safe from shelling.
‘‘Here at DVB we have recognized
the wealth of potential in the educational
sector in the country and we encourage
and support the development of our
youth. With the growth of our bank, our
ability to engage in community activities
has also grown allowing us to contribute
in developing societies nationwide. It is
of great importance that we engage in
such activities as with a little help and
encouragement the youth of our country
can reach incredible accomplishments,”
stated Chief Executive Offiicer of DVB
Lakshman Silva.
He further added, “The prodigy, Gopi-
ka Rajarathnam, who achieved these
perfect results, should be applauded for
her determination and hard work. Having
lost both her parents with one of them due
to the Northern conflicts she was resolute
on making the best of life. Having set this
goal in mind, she reached it against all
odds and DVB commends her effort.”
The initiative taken by DVB has given
exposure to hidden talent in Kilinochichi,
which will contribute towards the prog-
ress of the district and the country as a
whole. Gopika has a long and bright fu-
ture ahead of her and positive initiatives
like these will not only help identify but
also cultivate an environment of growth,
development and positive improvement
in the country.
Chief Executive Officer of DVB Lakshman Silva hands over a certificate
to Gopika Rajaratham
One of Sri Lanka’s largest private
sector banks, Hatton National Bank
(HNB) recently reaffirmed its sup-
port to the Institute of Chartered
Accountants of Sri Lanka (CA Sri
Lanka) by renewing its lead spon-
sorship for the year 2013.
By way of the lead sponsorship,
HNB will support and assist CA Sri
Lanka to carry out its numerous
educational and professional devel-
opment activities for the benefit of
its members and students, with the
underlying objective of helping de-
velop the accountancy profession
further.
Managing Director and CEO of
HNB, Jonathan Alles, speaking at
the event stated that HNB is pleased
to renew the lead sponsorship for
the sixth consecutive year. He not-
ed that the sponsorship will greatly
benefit the Institute to carry out key
events planned for 2013/2014.
He stated that HNB’s close asso-
ciation with the institute further rein-
forces the recognition and respect
the bank places on CA Sri Lanka,
which is the foremost body and au-
thority on accounting and auditing
in the country.
Welcoming HNB onboard once
again as a lead sponsor, CA Sri
Lanka President Sujeewa Raja-
pakse noted that HNB’s continuous
patronage over the years as a lead
sponsor is an endorsement of the
Institutes mission to serving the so-
ciety by promoting and developing
accounting expertise while ensur-
ing the highest level of integrity and
competence.
“I am very pleased to welcome
HNB onboard this year too as a
lead sponsor and I believe this
partnership will tremendously ben-
efit both organizations alike,” Raja-
pakse added.
Identified as the premier private
sector commercial bank in Sri Lan-
ka, HNB has been acknowledged
globally by The Asian Banker as
the Best Retail Bank in Sri Lanka
for six consecutive years for its out-
standing performance from the year
2007 to 2012.
HNB renews CA sponsorship
From Left: Ms. Wayomi Gunathilaka, Deputy Manager - Brand and
Corporate Communications – CA Sri Lanka; Aruna Alwis, Secretary/CEO –
CA Sri Lanka; Sujeewa Rajapakse, President – CA Sri Lanka; Jonathan Alles,
Managing Director/CEO – HNB; Dilshan Rodrigo, Chief Operating Officer
– HNB; and Mrs. Chiranthi Cooray, Assistant General Manager Human
Resources - HNB
Exciting offers for ComBank cardholders
Seylan Bank PLC announced the
appointment of W. D. K. Jayawar-
dena as a Non Executive Director
of the Bank with effect from August
1, 2013. This appointment follows
the vacancy created by the resigna-
tion of Ajith L. Devasurendra from the
Bank’s Board of Directors.
Jayawardena holds an MBA in Fi-
nancial Management and is a Fellow
Member of the Institute of Bankers,
and, an Associate Member of the In-
stitute of Cost and ExecutiveAccoun-
tants, London.
Prior to joining LOLC he served as
Country Head and CEO (Sri Lanka
and Maldives) of Citibank NA from
1998 to 2007. He has varied interests
in the fields of Investment Banking,
Audit, Relationship Management,
Corporate Finance, Corporate Bank-
ing, and Treasury Management.
Jayawardena was appointed
Chairman of the Sri Lanka Banks As-
sociation (SLBA) in 2003/04. He has
served as President of the American
Chamber of Commerce in Sri Lanka
(2006/07) and was appointed to the
Financial Sector Reforms Commit-
tee (FSRC).
CDB gets US$ 6m
foreign funding
Sri Lanka’s Citizens Development Business
Finance PLC (CDB) said it has received a US$
six million (Rs.780m) foreign funding line from
Brussels based Belgian Investment Company
for Developing Countries (BIO).
The CDB said in a stock market disclosure
that its first foreign funding line comes with a 4-
year tenure and has been fully hedged against
any exchange rate fluctuations on a fixed inter-
est rate.
The funding line has been offered to CDB
by BIO based on a comprehensive initial field
survey.
The BIO, apart from CDB’s financial fun-
damentals and governance structures, has
considered urban funding, rural lending busi-
ness model and CDB’s pyramid focus lending
framework contributing to inclusive economic
growth in offering the funding line.
The BIO’s mission is to support a strong
private sector in developing and/or emerg-
ing countries, to enable them to gain access
to growth and sustainable development with
the aim of achieving the Millennium Develop-
ment Goals. CDB’s Managing Director/CEO
Mahesh Nanayakkara said the CDB believes
that it could convert this first step to be a strong
long-term partnership with BIO in the future.
“Apart from having access to a new funding
source, which will strengthen our capacity, we
are also happy that CDB has been exposed to
an exhaustive due diligence process by BIO in
considering this facility and also will be able to
contribute in our own way for the macro frame-
work set in encouraging foreign funding to sup-
port post war accelerated economic develop-
ment in Sri Lanka,” Nanayakkara said.
CDB’ Executive Director Roshan Abey-
goonewardena said in the disclosure that this
is certainly another important milestone for
CDB in expanding their debt funding portfolio
to complement the deposits and savings.
A host of exciting hotel pack-
ages that carry savings of up to 40
percent as well as savings of up
to 20 percent on electrical appli-
ances has been announced by the
Commercial Bank of Ceylon for the
Bank’s credit and debit card hold-
ers.
Eight hotels managed by Cin-
namon Hotels and Resorts par-
ticipating in the first of three pro-
motions running concurrently, are
offering discounts of 40 percent on
Platinum cards and discounts of 30
percent on Gold and Silver credit
cards issued by Commercial Bank,
up to October 31. The participat-
ing hotels are Cinnamon Lodge
Habarana, Cinnamon Citadel
Kandy, Cinnamon Bay Beruwela,
Cinnamon Wild Yala, Chaaya Vil-
lage Habarana, Chaaya Tranz Hik-
kaduwa, Chaaya Blu Trincomalee
and Bentota Beach Hotel Bentota.
Discounts are only applicable on
new bookings and are not appli-
cable for online bookings.
Under Commercial Bank’s trav-
el-related promotion, all holders
of credit cards issued by the Bank
are eligible for zero-interest instal-
ment schemes on travel packages
booked through Mackinnon’s Trav-
els up to December 25, 2013.
Jayawardena joins Seylan Board
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