Sri Lanka’s banks, regulators, and small and medium enterprises (SMEs) gathered at the Presidential Secretariat to address challenges surrounding parate execution (foreclosure) laws and difficulties in loan repayments. A key focus of the meeting was the suspension of the law on parate execution, which governs the auctioning of collateral for defaulted loans. The law has
The Sri Lanka Export Development Board (EDB), in partnership with the Sri Lanka Consulate General in Dubai, UAE, is set to organize the Sri Lanka pavilion at GITEX Expand North Star, taking place from October 13 to 16, 2024. This initiative will encompass various activities, including business meetings, networking sessions, and field visits across Dubai,
The Netherlands’ Foreign Affairs Ministry has invested €300,000 in a cluster project aimed at enhancing the sustainability and growth of local batik SMEs in Gampaha, Sri Lanka. This initiative, titled “Healthy Socio-Economic Recovery of the Apparel Sector, Micro and Small Enterprises in Severely COVID-19 Impacted Gampaha District of Sri Lanka,” focuses on equipping these businesses
Siyapatha Finance PLC recently announced steady financial growth for the first half of 2024, ending June 30. The company achieved a profit after tax (PAT) of Rs. 513 million, marking a remarkable 189% increase compared to the same period last year. Profit before tax (PBT) also saw substantial growth, rising by 133% to Rs. 1,215
Seylan Bank has unveiled a new addition to its financial services suite with the launch of Seylan Factoring, designed to help businesses access funds by leveraging outstanding trade receivables. Unlike traditional loans that consider a broad range of factors, factoring focuses primarily on the quality and collection of receivables to establish the facility. Seylan Factoring
Seylan Bank has launched Seylan Factoring, a new financial service designed to help businesses unlock funds by leveraging outstanding trade receivables. This service offers a fresh alternative to traditional lending by focusing on the quality of receivables and their collection process rather than broader repayment factors. Seylan Factoring enables clients to access up to 80%
In a landmark initiative to drive digital transformation for small and medium-sized enterprises (SMEs), Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata PLC, has signed a Memorandum of Understanding (MoU) with Commercial Bank of Ceylon PLC, GlobalLinker, and Databox Technologies. This collaboration, titled “Commercial Bank LEAP GlobalLinker,” is an innovative web solution designed
The Export Development Board (EDB) has formed a strategic partnership with Switzerland’s State Secretariat for Economic Affairs (SECO) to implement the second phase of the Global Program on Textile and Clothing (GTEX2), aimed at enhancing Sri Lanka’s apparel sector. This five-year program, running from 2024 to 2027, is funded by the Swiss Government and organized