CDB Archives

October 26, 2023

25 October 2023, Colombo : Citizens Development Business Finance PLC (CDB) and the Sri Lanka Association for Child Development (SLACD) have officially inaugurated the “Pragathi” Southern Provincial Autism and Neurodevelopmental Intervention Centre, marking a significant milestone in their joint project “Act Early for Autism”.

The state-of-the-art facility, located at the Karapitiya Teaching Hospital, embodies their commitment to providing comprehensive support and hope to children with autism spectrum disorder (ASD) and their families in the Southern Province of Sri Lanka, with a substantial investment exceeding Rs. 45 million.

The Pragathi Intervention Centre is designed to cater to a diverse range of needs for children with ASD. The Therapy Room offers a distraction-free environment where highly trained therapists provide personalised care. Meanwhile, the Observation Room allows professionals to discreetly monitor and assess a child’s progress. This room aids in the development of tailored intervention plans, ensuring that each child’s journey towards better health and development is closely tracked and optimised.

The Sensory Gym plays a pivotal role in sensory integration and motor skills development. It offers a dynamic space where children can engage in therapeutic activities that cater to their specific sensory needs. Through these activities, the sensory gym supports the children in enhancing their sensory and motor skills, contributing to their overall growth and development.

A Multi-Disciplinary Team (MDT) Room encourages collaboration among professionals from various fields. The facility also has a special education unit dedicated to offering specialised educational support that’s tailored to each child’s unique needs. This ensures that children receive an inclusive education that not only accommodates their challenges but also promotes their overall development and growth.

To further empower both the children and their parents, the centre is equipped with special toilet training facilities. Here, children are guided in learning the necessary procedures for appropriate bathroom etiquette. Parents are also provided with the knowledge and resources needed to support their child’s development in this crucial aspect of daily life.

The dedicated team at the Pragathi Centre comprises highly trained therapists with several years of experience, ensuring the delivery of the highest level of care and support for the children. The focus extends beyond the centre’s walls, with an emphasis on training mothers as an integral part of therapy. Recognizing the importance of continued therapy at home, the Pragathi Centre aims to empower parents in the care of their children.

Marking its 20th anniversary, CDB together with SLACD launched the “Act Early for Autism” project in 2015 with the focus of raising awareness about ASD, facilitating early detection, and ensuring timely intervention. Accordingly, the Autism Trust Fund was mooted as a result of this collaboration. All CDB’s efforts towards raising awareness through mass media campaigns, outreach programs and establishing intervention centres are facilitated via this trust fund.

As part of CDB’s previous initiatives in terms of intervention, an outdoor therapeutic play area was constructed at Ampara District General Hospital in 2018 and a state-of-the-art “Pragathi” children’s intervention centre was established at the Teaching Hospital in Anuradhapura in 2019.

“We believe that true success is not measured solely by financial gains but by the positive impact we create in our society. The ‘Pragathi’ Southern Provincial Autism and Neurodevelopmental Intervention Centre is more than just a project; it’s a testament to our unwavering commitment to the well-being of the children. For CDB, ‘Social Conscious’ is a key pillar of our Sustainability Agenda and promoting child health and well-being is considered as a main vertical under the same. This is a deeply emotional journey. We’re driven by the profound belief that every child, regardless of their challenges, deserves a chance to thrive,” said Mr. Mahesh Nanayakkara – MD/CEO of CDB.

Meanwhile, Prof. Hemamali Perera – President, SLACD added, “Today, we stand at the threshold of a transformation that will change countless lives. CDB’s dedication and substantial investment in the ‘Pragathi’ Southern Provincial Autism and Neurodevelopmental Intervention Centre are nothing short of a miracle for children with autism spectrum disorder and their families. The impact of this centre will reach far beyond its walls, extending deep into the hearts of the children and families it serves. It is a place where dreams are nurtured, where challenges are met with unwavering support, and where every child is given the chance to reach their full potential,”

The Pragathi Southern Provincial Autism and Neurodevelopmental Intervention Centre is more than just a facility; it symbolises progress, hope, and unwavering support for children with ASD and their families in the Southern Province. The centre is a beacon of hope, offering a comprehensive range of services and resources tailored to meet the unique needs of these children and their families.

To amplify the impact of this initiative, a series of outreach programs, specifically targeted at the Southern Province, will accompany the centre’s opening. Additionally, a mass media campaign will be launched to disseminate critical information and raise awareness throughout the broader community.

October 11, 2023

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Collaboration agreement signed with CodeGen to promote comprehensive ecosystem for EVs
e Shift Concept Center launched as landmark initiative in accelerating CDB’s sustainability mobility solutions

Continuing its unwavering mission of advancing the green economy, Citizens Development Business Finance PLC (CDB) launched the e Shift Concept Center, as a step to accelerate the Company’s sustainable mobility solutions focused under the Net Zero vertical of CDB’s Sustainability Agenda. This was rooted in a collaboration agreement CDB signed with CodeGen International (Pvt) Ltd. The agreement was signed recently by Managing Director/CEO of CDB Mahesh Nanayakkara and Chairman/CEO of CodeGen Dr Harsha Subasinghe.

As part of its Sustainability Agenda, CDB together with global and local partners, initiated the Haritha Coalition, designed to promote EVs and solar energy solutions to Sri Lanka. The e Shift Concept Center therefore, is another of the progressive steps taken by this Coalition in which chargeNET, a subsidiary of CodeGen International which powers the charging stations at the Center, is a partner. This collaboration accelerates CDB’s sustainability mobility solutions by promoting a comprehensive ecosystem for EVs with a focus on knowledge sharing, EV charging and EV conversion.

The e Shift Concept Center located at Green Path Colombo 7 aims to educate individuals interested in sustainable mobility, while generating interest and stimulating enthusiasm about EVs in Sri Lanka among the general public. While creating an informed awareness about a mindful transformation from fossil fuel-based vehicles to EVs, the Center will be a catalyst in prompting a sustainable shift in Sri Lanka’s transportation sector, which has traditionally been reliant on fossil fuels. To facilitate this transition, the Center will also offer cutting-edge charging facilities for EVs, enhancing the accessibility and convenience of electric vehicle charging and contributing to the growth of the EV ecosystem in Sri Lanka. With over 1 million three wheelers operating in Sri Lanka – all using fossil fuel – CDB and CodeGen will begin converting three wheelers into EVs.

Powered by solar energy, the Center has two conversion bays and seven charging stations with two of these being fast charging stations solely for three wheelers, marking a first for Sri Lanka. The Center will also have parking facilities for additional EVs.

Commenting on the collaboration, Mahesh Nanayakkara pointed out that accelerating sustainable mobility solutions is a key vertical under the Net Zero Pillar within the CDB Sustainability Agenda. “As a responsible corporate steward we have committed to accelerate sustainable mobility solutions by promoting EVs and EV infrastructure, in addition to knowledge sharing. With over one million three wheelers on our roads, carbon emission, oil spillage, noise pollution – all health hazards to drivers have a massive impact on climate change. The lasting positive impact this initiative can make, is unimaginable.”

Nanayakkara added that with the positives, daunting challenges emerge. “The cost of conversion, payable duties, cost of funds and customer conviction to convert vehicles adds to a long list. But we are confident and committed to travel this path with the help of like-minded people and organizations around the world, joining us to pursue a greener economy. Global warming and climate change is not a global crisis anymore, but a global emergency that needs urgent action.”

Enthusiastic about the partnership between CDB and CodeGen International, Dr Harsha Subasinghe stated, “Together, we’re pioneering a sustainable Sri Lanka powered by EVs, while revolutionizing the three-wheeler industry. Through knowledge sharing on EVs, conversions and charging solutions, we’re electrifying the future, one vehicle at a time. Together, we’re not just innovators; we’re trailblazers in building a greener, more eco-conscious Sri Lanka.”

September 26, 2023

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CDB was the Silver Sponsor, at the event ‘Back to Faculty’ organised by the University of Colombo’s Faculty of Management and Finance to celebrate the achievements and journeys of graduates during the past 42 years. CBD’s sponsorship helped to energize the proceedings where past graduates congregated to network, reminiscence and embrace friendships. The event also provided an opportunity for members to discuss a future involvement in supporting the University of Colombo. Importantly, the proceeds from the event will be allocated to two important causes – providing scholarships to financially disadvantaged undergraduates, enabling them to pursue their education, and enhancing the essential infrastructure of the faculty.

The CDB sponsorship was presented to the University officials during a press conference prior to the event. CDB representatives and the University officials pictured (L-R) Mevan Ranasinghe, Senior Brand Manager, CDB Marketing & Sustainability, Charitha Warnakulasooriya, Assistant General Manager, CDB Marketing & Sustainability, Senior Prof. H. D. Karunaratne, Vice Chancellor, UOC, Prof. M. P. P. Dharmadasa, Dean, Faculty of Management & Finance and Prof. H. M. Nihal Hennayake, Head, Department of Business Economics.

July 17, 2023

Wins top award in Non-Banking Financial Services Sector & Excellence in Corporate Governance

Reiterating leadership in the Non-Banking Financial Services Sector, Citizens Development Business Finance PLC (CDB) was crowned winner for the sixth consecutive year at the National Business Excellence Awards 2023 at a gala ceremony at Shangri-la Colombo recently. Also winning the category of Excellence in Corporate Governance, CDB continues to showcase trailblazing leadership traits in the NBFI sector, that have formed the solid foundation for its consistent performance throughout its 28 year journey.

The NBEA now in its 18^th year is organized by the National Chamber of Commerce of Sri Lanka. It is a benchmark of business excellence, recognizing business enterprises that have demonstrated excellence in business and contribution to the economic progress of the country. CDB’s wins as a leader in the NBFI sector and for demonstrating excellence in corporate governance stems from recognition of its business excellence, sustainable business model and best practices instituted during an unprecedently challenging period in the period under review.

Director/Deputy CEO/CFO of CDB Damith Tennakoon pitches CDB’s governance culture as one that goes beyond compliance supported by sound risk management strategies that have held CDB in good stead during trying times. “This is the foundation for the business excellence that we champion” he says. “This culture has been the primary tool for the resilience displayed by CDB during the last three years, which enables us to forge a sustainable future. Into this equation of sound and effective governance, we drive in the formula of financial inclusion and advancing the green economy to empower the aspirations of our customers, community and the country.”

Appreciating the integral role played by Team CDB, customers, valued business partners and the wider stakeholder community in ensuring CDB continues its journey of excellence, Tennakoon says, “CDB’s journey in the financial services industry has been augmented due to the loyalty, commitment and confidence our stakeholders have had in us. It is these fundamentals that keep CDB’s leadership in the sector a consistent and sustainable attribute.”

The NBEA 2023 applications, which span an expansive range of industries and businesses in various categories, were evaluated by an eminent panel of judges headed by Sunil G Wijesinha on seven criteria; Excellence in Strategy & Leadership, Corporate Governance & Strategy, Capacity Building, Performance Management, Local and Global Market Reach, Corporate Social Responsibility & Environmental Sustainability and Business & Financial Results.

June 13, 2023

12^th June 2023, Colombo: Citizens Development Business Finance PLC (CDB) demonstrated an outstanding performance at the recently concluded Singapore International Masters Athletics Championship 2023. The championship, held recently, took place at the prestigious Stadium Olahraga Perbadanan Johor Sports Complex in Mount Austin, (Johor) Malaysia.

In an extraordinary feat, four members of the CDB team took the Sri Lankan flag to new heights by winning multiple medals. These employees represent senior roles at CDB and despite their responsibilities, their commitment to bring this pride to Sri Lanka was unwavering.

Sri Lanka athletes won an overall 51 medals at the championship. Among the highlights of CDB’s success at the Malaysia (Johor) – Singapore International Masters Athletics Championship 2023 are the following medal-winning performances in the 35+ Age Group category.

CDB’s very own Ms. Nadee Perera, an empowered female leader who is also the Women’s Captain of the Mercantile Athletic Team and women’s captain of the Singapore international Masters athletic team won an impressive four medals. She secured the Bronze Medal in the 200m race, as well as in the Long Jump, Triple Jump, and 100m Hurdles events.

Mr. Dananjaya Liyanage, delivered an exceptional performance in Triple Jump and claimed the Silver Medal. Meanwhile, Mr. Chathura Wekadapola and Mr. Shavindra Fernando showcased remarkable achievement in multiple events, earning three medals for Sri Lanka. Chathura Wekadapola won the Silver Medal in the 400M race and secured the Bronze Medal in both the 100M and 200M races. Shavindra Fernando secured the Silver Medal in High Jump, while his performances in Long Jump and 110m Hurdles earned him the Bronze Medals.

CDB’s extraordinary talent at the Malaysia (Johor) – Singapore International Masters Athletic Championship 2023 is a testament to the team’s hard work, determination, and passion for athletics. These achievements reflect CDB’s dedication to nurturing talent and supporting sports development in Sri Lanka.

June 2, 2023

02 June 2023, Colombo: Citizens Development Business Finance PLC (CDB), one of the largest Financial Service Providers in Sri Lanka, announced the successful conclusion of the highly anticipated CDB Advance Green Challenge, an internal event hosted for CDB team members. The grand finale of this impactful event took place recently at the BMICH, in the presence of Chief Guest Dr. Ravi Fernando, Chairman / CEO of Global Strategic Corporate Sustainability Pvt Ltd, where participants showcased their knowledge and dedication to sustainability and mindfulness.

Aligned with CDB’s Sustainability Agenda, the CDB Advance Green Challenge is a flagship program, emphasising the engagement of CDB team members and the inculcation of green practices. This event served as a powerful demonstration of CDB’s commitment to Environmental Stewardship and Social Progress of its team members.

The theme of CDB Advance Green Challenge, “Engage Mindful Team Members,” emphasised the significance of individual and collective actions in building a sustainable future while instilling the right mind-set and proactive behaviour towards climate action. The program aimed to foster environmental consciousness among CDB team members, inspiring them to become agents of positive change in both their personal and professional lives.

Speaking at the finale, Charitha Warnakulasooriya, Assistant General Manager – Marketing & Sustainability, CDB said, “At CDB, we take sustainability very seriously and it is embedded in our business strategy. Accordingly, transforming our people in line with this is of equal importance. CDB Advance Green Challenge is one of the key platforms through which we expand the knowledge of team members, all while inculcating a sense of sustainable living in their lives. We have expanded this year’s edition to feature a green debate and short film competition to drive our messaging even further and I am confident that this will certainly have a lasting impact.”

The CDB Advance Green Challenge’s preliminary round started in February, during which over 400 CDB team members from branches across the island enthusiastically participated in various competitions including a Green Quiz, Green Debate and Green Short Film screening. After intense competition, four teams each comprised of knowledgeable and dedicated team members from the Green Quiz and Debate segments emerged as finalists, along with six short films.

In the highly anticipated grand finale, the teams showcased their knowledge and commitment to green sustainability through a thrilling Green Quiz. Following a series of challenging questions, Team Recovery was adjudged by Amjad Azmeer – Associate – Climate and Water: UN Global Compact Network Sri Lanka and Shiranee Yasaratne – Advisor – Biodiversity Sri Lanka, before emerging as the winner. Finishing 2nd, 3rd and 4th were Team Risk and Compliance, Team Internal Audit, and Team Finance respectively.

Meanwhile, Kaushalya Nawaratne – President: Bar Association of Sri Lanka adjudged CDB’s Team Contact Centre and CDB Team Wellawatta as the winners of the Green Debate Segment in Sinhala and Tamil languages respectively, with Team Legal and Team Trincomalee clinching second place. As a part of the honourable mentions, K. Y. Kaveesha Nethmini from Team Contact Centre and P. Kajenthika from Team Trincomalee clinched the titles of Best Sinhala and Tamil language debaters respectively. I. Gajamugan, Channel Head of Shakthi and MBC Networks contributed as the judge to the Tamil debate competition.

Parallel to the Green Quiz, the Short Film Competition attracted remarkable submissions from branches island wide. Out of the short films submitted during the initial stage, six outstanding entries were shortlisted and showcased during the event. The jury, composed of Kelum Palitha – Director – Siyatha TV, carefully evaluated the submissions and recognized CDB Team Jaffna’s short film as the winning entry, with Team Moratuwa and Team Mawathagama finishing second and third respectively.

CDB dedicates significant time and effort to sustainability initiatives, firmly believing in the power of collective action to create a greener and more prosperous future. The CDB Advance Green Challenge provided a platform to celebrate the dedication and ingenuity of its passionate team, who play a pivotal role in driving positive change within the organisation and beyond.

April 7, 2023

An unprecedented sixteen awards were proudly held aloft by the sales team of Citizens Development Business Finance (CDB) at the National Sales Awards held recently. These awards, organised by the Sri Lanka Institute of Marketing (SLIM), recognises superior excellence in sales leadership and with these many accolades, Team CDB proves it is an unparalleled team, winning a collective of sixteen awards including two national awards and two gold awards.

Four silvers, six bronze and two merit awards added to the total number, with these nationally recognised awards empowering the team to etch their individual pathways to meet aspirations, exceed goals, continually raise the bar and be role models for the entirety of the CDB sales force.

Nadeeka Perera and Anurudda Algama not only triumphed with the coveted National Sales Awards, they also won gold awards in the category of Sales Supervisor – Financial Services Providers category. Sales Supervisors, Sales Executives and Frontliners in the Financial Service Providers categories were well represented with silver, bronze and merit awards.

The annual National Sales Awards recognise and reward performance and competencies of sales professionals, pushing them to scale heights while continually raising the bar in leadership, professionalism, values, ethics, responsibility and best practices in sales excellence. The objective is for the awards to be a catalyst in ensuring sales professionals are on par with international standards.

Director Sales and Business Development CDB, Sasindra Munasinghe congratulated the winners saying, “You have proven that CDB is well on our way to building a world-class sales force because you thrive on challenges, exploit opportunities, think beyond the norm and keep pushing that bar of excellence. At CDB we have striven to establish performance standards that are not just constructed on the building blocks of excellence, it also encourages and motivates you to take advantage of our pioneering spirit and entrepreneurial mindset.”

He added that CDB has always developed its team based on a foundation of individuality but also, on a collective company vision that is a win-win formula for both. “Being recognised nationally means CDB has nurtured a winning team – a team that bring extraordinary results through ordinary people – given that our team members compete with the best of the best sales professionals across industries.”

Team CDB has won continuously at the National Sales Awards and this year, had to compete with a collective of applicants who were of very high quality and set a competitive benchmark in the Financial Services, Banking, Insurance & FMCG sectors. The competition was intense with the quality of the applicants being extremely high, all proven to be master leaders in their field. For CDB therefore, winning a large haul of awards at the prestigious National Sales Awards is doubly significant – it is undeniably a winning team, but it is also a Company that believes in nurturing its sales team to be the best of themselves, taking responsibility for their actions and pushing the standards of sales excellence upwards.

March 14, 2023

Adds to the five awards won previously at ceremonies organized by ACCA Sri Lanka

In recognition of excellence in sustainability reporting, Citizens Development Business Finance PLC (CDB) won one of the most prestigious awards in sustainability reporting in the country at a gala ceremony held recently. The Association of Chartered Certified Accountants Sri Lanka in its 19^th annual ACCA Sri Lanka Sustainability Reporting Awards bestowed the Finance Services & Insurance Category win on CDB reaffirming the Company’s commitment to transparency, accountability and sincerity of action.

CDB has had a regular presence at these awards in past years, having won five times including being adjudged a joint winner and runner up four times in this category. The Company’s consciousness and commitment to sustainability in the 3Ps of People.Planet.Profit also saw it recently be among the Ten Best Corporate Citizens in Sri Lanka for the fifth consecutive year at the Best Corporate Citizen Sustainability Awards organized by the Ceylon Chamber of Commerce.

Accepting the award on behalf of CDB, Director/Deputy CEO/CFO Damith Tennakoon stated that, “Sustainability reporting is seen as an enabler of the Sustainable Development Goals (SDGs) which CDB is very committed to, as sustainability is intertwined inextricably to our business model. At a time when the world and our nation is facing socio-economic crisis of unforeseen magnitudes, the SDGs remain more relevant to us than ever. We are honoured that our efforts in reporting an integrated approach to sustainability will lead the way in accelerating progress towards not just the Company’s, but Sri Lanka’s goals as well.”

Appreciating CDB’s stakeholders in always pushing the company to raise the bar, Tennakoon firmly believes that by every stakeholder taking ownership of this sustainability strategy, CDB is empowered to push its goals of financial inclusivity and innovation to establish a smarter and sustainable Sri Lanka.

The ACCA Sustainability Reporting Awards are held worldwide in over 25 countries with over 3,000 entities vying for recognition in sustainability reporting. The awards give credence to an organisation’s sustainability practices with recognition of the strong links between business strategy, corporate governance and sustainability. It rewards disclosure of full sustainability information and encourages the uptake of reporting to raise awareness in corporate transparency, accountability, responsiveness and sincerity of action.

March 9, 2023

09 March 2023, Colombo: Citizens Development Business Finance PLC (CDB), the Total Financial Service Provider in Sri Lanka, has been awarded the Most Innovative Company of the Year at the inaugural Dare to Dream Awards 2023 Sri Lanka Edition, which was powered by SAP together with John Keells IT. The award recognises CDB’s commitment to revolutionising the financial services industry with far-reaching technological innovations and its dedication to driving digital transformation in Sri Lanka.

The purpose of the award ceremony was to recognize organizations and visionary leaders for being pioneers in innovation, technology adoption as well as digital transformation, paving the way for the resurgence of the Sri Lankan economy. Prior to securing the award, CDB’s application was assessed by a panel of experts, based on the institution’s overall tech implementations and how the same has been well adopted during the recent challenging period in the country.

Speaking on this feat, Dave De Silva, Director of Business Operations at CDB said, “We are honoured to be recognised as the Most Innovative Company of the Year at the Dare to Dream Awards 2023 Sri Lanka Edition. This award is a testament to the tireless efforts of our team, who have worked hard to implement innovative technology solutions that have revolutionised the financial services industry in Sri Lanka. Receiving this award motivates us to work even harder to bring innovative solutions to our customers and provide them with the best possible services. We thank our customers for their continued trust in us and our employees for their dedication and hard work.”

CDB is continuously focused on improving and implementing process innovations, which include enhancing the customer onboarding process, making it more simplified and efficient through the Digital form filling, Robotic Process Automation (RPA) based data entry through the Optical Character Recognition (OCR) and Intelligent Character Recognition (ICR) options.

The complete automation process covers a range of tasks, such as customer onboarding, opening savings accounts, providing debit cards, conducting CRIB report checks via an Application Programming Interface (API), submitting files via Digital form filling, approving credit facilities through an Enterprise Resource Planning (ERP) system, automated credit decision for 80% of credit facilities, and delivering digital delivery orders to customers anytime any day of the year bypassing the branch network. We call this virtual operations.

As this award is a recognition of CDB’s commitment to driving digital transformation in Sri Lanka and the financial services industry, it is expected that CDB will continue to innovate and provide cutting-edge financial solutions to its customers in the years ahead.

January 31, 2023

DFCC Bank PLC, one of Sri Lanka’s most trusted banks and a leader in inward remittances, has partnered with Citizens Development Business Finance PLC (CDB) one of the top four largest non-banking financial institutions (NBFIs) in Sri Lanka, to promote convenient access to inward remittances. CDB is the 10^th financial institution to become a partner on the Lanka Money Transfer (LMT) platform; a comprehensive, secure, seamless, and reliable remittances platform designed, created and operated by DFCC Bank PLC. As a result, DFCC Bank PLC, a bank with over 65 years of experience and CDB, a well-established and multi-award-winning financial institution, can now work together to facilitate inward remittances to Sri Lanka.

The partnership aims to form a strong bond between these two financial services giants with a view to reaping mutual benefits. It also further expands the collection points of remittances sent from UAE, Qatar, Oman, Israel, Australia, Japan, Hong Kong, and Singapore via DFCC Bank’s LMT remittances platform, reaching customers who prefer to do business with NBFIs. Adding CDB to the LMT network is a significant milestone for DFCC Bank, as it aims to consolidate its position further in the foreign currency inward remittances market.

Discussing the importance of the partnership, the CEO of DFCC Bank PLC, Thimal Perera commented, “We are delighted to partner with CDB to expand our remittance services and provide more options for our valued customers. This partnership creates a win-win situation for DFCC and CDB by expanding accessibility and sharing the platform. We are committed to providing the best customer service and compliance with international standards, and this partnership will only enhance our ability to do so.”

Mahesh Nanayakkara, the MD/CEO of Citizens Development Business Finance PLC (CDB), also expressed his positive sentiments towards the partnership, “It is indeed an exciting time as we join forces with DFCC Bank to provide our customers with convenient, seamless, secure and reliable remittance options. This partnership will benefit our customers and contribute to the national effort to overcome the present economic challenges through increased inward foreign currency inward remittances.”

Customers using the LMT platform are assured of exceptional customer service standards, with each transfer complying with international standards, and each transaction is instantly credited to the beneficiary customer account in real time. This reassures Sri Lankans working abroad and supporting their families back home. It also further incentivizes people to choose legitimate inward remittances, as speed is no longer an issue with LMT. Furthermore, by remitting legitimately, customers are further empowered to enjoy all the perks of receiving inward foreign currency remittances, including tax benefits.

Inward remittances are a top priority at the national level to address Sri Lanka’s present economic challenges. DFCC Bank was the first Bank in Sri Lanka to launch a targeted campaign introducing incentives for remittances, leading the way for others to follow. The Bank is continuously working towards improving the flow of legitimate inward remittances by reaching out to an increasingly diverse range of customers. By coming together, DFCC Bank and CDB have taken a monumental step towards addressing the needs of Sri Lankans living and working abroad who make regular remittances to Sri Lanka to support their families.

Older Posts

CDB and SLACD unveil state-of-the-art Autism Intervention Centre in the Southern Province of Sri Lanka

CDB accelerates sustainable mobility in Sri Lanka in partnership with CodeGen

CDB as Silver Sponsor supported ‘Back to Faculty’ celebrations of University of Colombo – Faculty of Management and Finance

CDB reiterates leadership with 6th consecutive win at National Business Excellence Awards

Nadee Perera of CDB, captain of Sri Lanka women’s team leads Sri Lanka to new heights empowering the winning spirit at the Singapore International Master Athletics Championship 2023

CDB Advance Green Challenge successfully transforms team mindset into sustainable visions

Team CDB showcases extraordinary leadership triumphing at the National Sales Awards

CDB wins Finance Services & Insurance Category at ACCA Sri Lanka Sustainability Reporting Awards

CDB wins Most Innovative Company of the Year Award at Dare to Dream Awards 2023 Sri Lanka Edition

DFCC Bank and Citizens Development Business Finance PLC (CDB) Enter into Strategic Partnership to Expand Inward Remittance Services