MOU Archives

March 11, 2024

Reiterating its efforts to bring the best possible deals to customers investing in their dream home, Sri Lanka’s leading private sector bank, HNB PLC, entered into a Memorandum of Understanding (MoU) with the International Construction Consortium (PVT) Ltd (ICC), to offer exclusive financial solutions to prospective homeowners of the developer’s latest project The Residencies Kotte, located in the capital city of Sri Lanka.

The agreement was signed at a special ceremony at ICC Head Office, with the participation of HNB AGM – Personal Financial Services, Kanchana Karunagama and ICC Managing Director/Chief Executive Officer, Namal Peiris alongside additional representatives from both companies. The partnership will provide customers with the value proposition best suited to their needs, for their home investment.

Commenting on the partnership, HNB AGM – PFS, Kanchana Karunagama said: “We are proud to extend our commitment to empowering homeownership together with the ICC, through helping aspiring homeowners tackle the housing landscape with tailored financial solutions. In tandem with ICC’s expertise in construction, we’re dedicated to making the journey to homeownership seamless and fulfilling.”

Through this partnership, customers can avail themselves to special interest rates and other benefits from HNB, as well as convenient and flexible repayment options tailor-made to their budgets, during the promotional period which ends December 31, 2024. To provide maximum support, the bank’s dedicated agents also support customers with legal documentation needed for the facility. Moreover, HNB’s backend processes ensure a speedy loan approval process.

“Our latest project in Kotte is located in a prime area, just minutes from the Monarch Imperial Hotel. We are making steady progress with Tower A, while we just completed the super structure for Tower B. At this rate, I believe that our collaboration with HNB ensures a seamless path for customers looking to own their dream home,” commented ICC MD/CEO, Namal Peiris.

With over 40 years of experience in the construction industry, the International Construction Consortium (PVT) Ltd is the most innovative and progressive Civil Engineering organizations in Sri Lanka. The Consortium has completed several condominium projects such as Mount Clifford Homagama, Nivasie Malabe and Oceanfront Condos in Galle & Nilaveli.

With 254 customer centers and 800+ Self Service Devices (SSMs) nationwide, HNB is one of Sri Lanka’s largest, most technologically innovative private banks. Consolidating its legacy in sustainability, good governance and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. The Bank further secured four additional accolades, including being among the Top 10 Best Corporate Citizens and taking home the Governance category and Sustainability Champion for the Finance sector titles.

Additionally, HNB was ranked among the World’s Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for the sixth consecutive year in 2022, in addition to being crowned the Best Retail Bank in Sri Lanka for the 13th occasion at the prestigious International Excellence in Retail Financial Services Awards 2023 hosted by the Asian Banker Magazine.

March 4, 2024

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Recognising the growing importance of Artificial Intelligence (AI) in the modern digital world, the Lanka Research and Education Network (LEARN) signed an MoU with the UNESCO Chair of Asia Pacific University (APU), Malaysia, to equip Sri Lankan educators with AI skills. This partnership aims to enhance teaching quality and research efforts by effectively empowering teachers and university lecturers to utilise AI. Through various initiatives, educators will gain proficiency in using AI as a supporting tool to offer enriched learning experiences to students. Thus, this partnership signals a promising step towards positively transforming Sri Lanka’s educational landscape.

The partnership’s inaugural initiative will introduce the AI for Innovative Design & Education (AIDE) programme to Sri Lanka. The AIDE programme is designed to equip local educators with essential AI knowledge so they can utilise it effectively and responsibly. Happening from the 11th to the 14th of March 2024, the first stage of the programme will host a series of workshops for a select group of educators. Working alongside Sri Lanka’s Ministry of Education, LEARN has opened these workshops to higher education academics, vocational college trainers, and school teachers. It will then be followed by a conference, which is open for all to witness the potential of AI in academia. Through the AIDE programme, Sri Lankan educators will explore how AI can be used to craft impactful learning experiences.

Sharing insights on the programme, Consultant CEO of LEARN, Prof. Roshan Ragel, highlighted, “The AIDE programme by the UNESCO Chair of APU, is reflective of LEARN’s commitment to helping educators use AI responsibly, creatively, and ethically. Together, we envision Sri Lankan educators becoming not simply users but skilled practitioners leveraging this technology to shape the trajectory of education and research. To achieve this, AIDE offers a customised framework, designed to help educators effortlessly incorporate AI into their existing practices. Thereby, improving learning at all levels, from schools to universities, across the island.”

Following the first stage of the AIDE programme, the partnership will embark on subsequent initiatives aimed at knowledge dissemination and sustained skills development. These successive efforts involve sharing content from the AIDE workshops and making them freely accessible as Open Educational Resources (OER), ensuring wide accessibility. Afterwards, LEARN will spearhead efforts to help Sri Lankan educators further develop AI skills, fostering a culture of continuous learning amongst them to embrace new technologies. Through these combined initiatives, the partnership contributes to the global pursuit of quality learning, as emphasised in the United Nations Sustainable Development Goals (SDGs).

Reflecting on this partnership, UNESCO Chair on Harnessing Innovations in Technology to Support Teachers and Quality Learning at APU, Prof. Dr. Abtar Darshan Singh, said, “We are pleased with this collaborative effort with LEARN. We feel the energy and passion for education that LEARN has and are very happy to support LEARN to ensure that education in Sri Lanka is constantly transforming to meet the needs of the new generation of learners.” In recent years, AI has become a game-changer in many fields, including education. Hence, embracing is crucial for educators in the digital era. However, it’s equally important to utilise it responsibly and ethically, considering its early stage. The partnership between LEARN and the UNESCO Chair of APU assists Sri Lankan educators in making this transition. Ultimately, this partnership will democratise access to AI for Sri Lankan educators, enabling a creative and ethical integration of technology into teaching practices.

March 4, 2024

Recognising the growing importance of Artificial Intelligence (AI) in the modern digital world, the Lanka Research and Education Network (LEARN) signed an MoU with the UNESCO Chair of Asia Pacific University (APU), Malaysia, to Empower Sri Lankan Educators with AI skills. This partnership aims to enhance teaching quality and research efforts by effectively empowering teachers and university lecturers to utilise AI. Through various initiatives, educators will gain proficiency in using AI as a supporting tool to offer enriched learning experiences to students. Thus, this partnership signals a promising step towards positively transforming Sri Lanka’s educational landscape.

The partnership’s inaugural initiative will introduce the AI for Innovative Design & Education (AIDE) programme to Sri Lanka. The AIDE programme is designed to equip local educators with essential AI knowledge so they can utilise it effectively and responsibly. Happening from the 11th to the 14th of March 2024, the first stage of the programme will host a series of workshops for a select group of educators. Working alongside Sri Lanka’s Ministry of Education, LEARN has opened these workshops to higher education academics, vocational college trainers, and school teachers. It will then be followed by a conference, which is open for all to witness the potential of AI in academia. Through the AIDE programme, Sri Lankan educators will explore how AI can be used to craft impactful learning experiences.

Sharing insights on the programme, Consultant CEO of LEARN, Prof. Roshan Ragel, highlighted, “The AIDE programme by the UNESCO Chair of APU, is reflective of LEARN’s commitment to helping educators use AI responsibly, creatively, and ethically. Together, we envision Sri Lankan educators becoming not simply users but skilled practitioners leveraging this technology to shape the trajectory of education and research. To achieve this, AIDE offers a customised framework, designed to help educators effortlessly incorporate AI into their existing practices. Thereby, improving learning at all levels, from schools to universities, across the island.”

Following the first stage of the AIDE programme, the partnership will embark on subsequent initiatives aimed at knowledge dissemination and sustained skills development. These successive efforts involve sharing content from the AIDE workshops and making them freely accessible as Open Educational Resources (OER), ensuring wide accessibility. Afterwards, LEARN will spearhead efforts to help Sri Lankan educators further develop AI skills, fostering a culture of continuous learning amongst them to embrace new technologies. Through these combined initiatives, the partnership contributes to the global pursuit of quality learning, as emphasised in the United Nations Sustainable Development Goals (SDGs).

Reflecting on this partnership, UNESCO Chair on Harnessing Innovations in Technology to Support Teachers and Quality Learning at APU, Prof. Dr. Abtar Darshan Singh, said, “We are pleased with this collaborative effort with LEARN. We feel the energy and passion for education that LEARN has and are very happy to support LEARN to ensure that education in Sri Lanka is constantly transforming to meet the needs of the new generation of learners.” In recent years, AI has become a game-changer in many fields, including education. Hence, embracing is crucial for educators in the digital era. However, it’s equally important to utilise it responsibly and ethically, considering its early stage. The partnership between LEARN and the UNESCO Chair of APU assists Sri Lankan educators in making this transition. Ultimately, this partnership will democratise access to AI for Sri Lankan educators, enabling a creative and ethical integration of technology into teaching practices.

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February 28, 2024

In a bid to enhance collaboration and strengthen bilateral relations between Sri Lanka and France, SLASSCOM and the Sri Lanka France Business Council (SLFBC) have signed of a Memorandum of Understanding (MOU) with a central emphasis on advancing trade, facilitating market access and encouraging investments in knowledge and innovation solutions between the two nations. The MOU encompass initiatives such as fostering joint ventures, facilitating academic exchanges, and bolstering cooperation within the startup ecosystem.

The event saw the presence of distinguished representatives from both organizations, each of whom brought valuable insights and perspectives to the table.

Jehan Perinpanayagam – Chairman of SLASSCOM, underscored the pivotal role of international partnerships in propelling innovation and fostering economic growth.’ In today’s interconnected world, fostering meaningful collaborations between nations is essential for driving innovation and economic prosperity. Through this MOU, we aim to cultivate a strong partnership that will enable us to unlock new avenues for trade, market access, and investment in the areas on technology and innovation that will ultimately benefit both Sri Lanka and France”, he remarked.

Ashiq Lafir – President of the Sri Lanka France Business Council (SLFBC), highlighted the vast potential for synergies between French and Sri Lankan businesses, particularly in the areas of technology and innovation. ‘Our partnership with SLASSCOM holds immense promise for fostering synergies between French and Sri Lankan businesses, particularly in the areas of technology and innovation. By working together, we can harness our collective expertise and resources to drive mutual growth and prosperity by creating new opportunities for businesses that will in turn contribute to the economic growth in both countries’, he said.

Hema Ramachandran, Deputy Economic Counsellor, delivered invaluable perspectives on the economic landscape, offering an outline of the prospects and potential for bilateral collaboration between Sri Lanka and France. In parallel, Lakshmi Jaliyagodage, Senior Program Manager at SLASSCOM stated that this MOU has the potential to significantly impact the positioning of Sri Lanka as a leading hub for technological advancement. This initiative therefore, not only underscores SLASSCOM’s commitment to driving economic growth but also underscores its vision to position Sri Lanka as a prominent player in the global technology landscape. Also in attendance at the event was Niroshini Sivagananathan – Manager of Events at SLASSCOM.

February 19, 2024

The Colombo Stock Exchange (CSE) signed a Memorandum of Understanding (MoU) with the Sri Lanka Institute of Marketing (SLIM) recently to enhance collaborative efforts in advancing educational initiatives and professional development. This effort will ultimately provide students with the enhanced access and preparation necessary to recongise and capitalise on opportunities within the financial sector.

The objective of this MOU is to include a Capital Market Module for the Post Graduate Diploma in Marketing program and facilitate guest sessions in other courses of SLIM, designed and offered through the CSE Branches in collaboration with SLIM.

These Educational Courses will be co-branded by both SLIM and CSE, signifying the collaborative nature of this initiative. Additionally, the CSE will conduct the necessary Marketing activities at regional levels to attract students.

Commenting on the partnership, the CSE CEO, Mr. Rajeeva Bandaranaike, said, “Improving financial literacy will have a direct impact on financial markets. The lack of information and understanding is one of the reasons for hesitancy to enter the capital market. Partnerships like this will go a long way to strengthen that area ”

He further said, “We welcome this initiative because we see a lot of potential in working together, not only as it is mutually beneficial to both our institutions but also to the industries that we serve in as a whole.”

Thanking all parties that played a key role, for their invaluable contributions in making this MoU possible, Prof. Jayantha Dewasiri stated, “With this initiative, we have set our sights on further expanding our network. Our objective is not only to advance marketing but also to promote financial literacy and capital market modules throughout our programs offered across the CSE branch network.”

January 16, 2024

SLT-MOBITEL, the national ICT solutions provider, signed a Memorandum of Understanding (MOU) with Bricks Developers (Pvt) Ltd., a respected property development company engaged in developing apartments and commercial buildings, to provide SLT-MOBITEL Fibre connectivity to ‘Thurstan 42’ Colombo 03, the luxury apartment complex.

The MOU was signed and exchanged by Sugath R. De Silva, General Manager, Consumer Business Support, SLT, and Shanker Somasunderam, Chairman, Bricks Developers (Pvt) Ltd. Senior representatives from both companies were present on the occasion.

Under the agreement, SLT-MOBITEL will establish a fibre optic network for each apartment unit. Residents will be able to subscribe to SLT-MOBITEL’s Fibre broadband packages and experience ultra-high speeds up to 1 Gbps, which will ensure seamless and efficient digital solutions for modern living.

SLT-MOBITEL Fibre offers ultra-high speed, low latency, and unlimited data, making it ideal for work from home, continuous video conferencing, streaming, online gaming, and more. With round-the-clock technical support and SLT-MOBITEL’s reliable after-sales service, residents of ‘Thurstan 42’ Colombo 03 can experience the true power of fibre and unparalleled digital experiences.

Sugath R. De Silva, General Manager, Consumer Business Support, SLT, commented, “We are pleased to partner with Bricks Developers to provide state-of-the-art fibre connectivity to ‘Thurstan 42’ Colombo 03. SLT-MOBITEL Fibre has become a necessity in today’s digital era, recognised for its reliable, high-speed broadband, and we aim to deliver the best experience to our customers.”

Shanker Somasunderam, Chairman, Bricks Developers (Pvt) Ltd. said, “We chose SLT-MOBITEL Fibre as the connectivity partner for ‘Thurstan 42’ Colombo 03, as the leader in telecommunication solutions has proven expertise in fibre optics and exceptional customer service. The ultra-fast speeds will enable our residents to seamlessly work, learn, stream, game, and connect online.”

Bricks Developers Ltd. has ventured into Sri Lanka’s rapidly growing apartment construction industry through a partnership with China’s Zhongtian Dinghui Investment Company Ltd. The latest project, ‘Thurstan 42’ Colombo 03, comprises 72 luxury apartments located in the heart of Colombo within walking distance to top schools in the city.

The apartments has 12 levels, ranging from 309 to 1085 square feet. ‘Thurstan 42’ Colombo 03 is equipped with state-of-the-art facilities, including a swimming pool, gymnasium, dual elevators, 24-hour security, 100% power backup, and an open rooftop terrace with landscaped gardens, guaranteeing a unique living experience. The complex has been constructed using high-quality materials and accessories matching international quality standards.

The partnership reinforces the commitment of SLT-MOBITEL Fibre, enabling digital experiences and empowering communities across Sri Lanka.

January 8, 2024

In a significant move to bolster professional development and foster collaboration within the finance and accounting industry, ACCA Sri Lanka and KPMG Sri Lanka recently announced the signing of a Memorandum of Understanding (MOU). This Strategic Partnership aims to strengthen the ties between the global professional accountancy body and one of the leading professional services firms, fostering a shared commitment to excellence and enhanced methodology in the Sri Lankan business landscape.

The MOU signing was attended by key representatives from both ACCA Sri Lanka and KPMG Sri Lanka. This collaborative endeavour signifies a commitment to advancing the standards of the accountancy profession, promoting knowledge sharing, and nurturing the next generation of finance professionals in Sri Lanka.

The Memorandum of Understanding (MOU) between ACCA Sri Lanka and KPMG Sri Lanka is set to bring forth a range of impactful initiatives. Firstly, the agreement outlines a strategic focus on Knowledge Sharing Initiatives, with plans for collaborative seminars, workshops, and knowledge-sharing sessions aimed at providing invaluable industry insights and fostering professional growth. The partnership also emphasizes Professional Development Opportunities, signaling a joint commitment to creating avenues for continuous growth, ensuring that finance professionals remain informed about the latest industry trends and developments. Furthermore, the MOU is poised to enhance networking opportunities through organized events, facilitating connections between ACCA members and affiliates with professionals at KPMG Sri Lanka, thereby creating fruitful prospects for collaboration and career advancement. Lastly a significant aspect of the collaboration is the dedication to Research and Thought Leadership , involving joint efforts on research projects and the development of thought leadership pieces aimed at contributing to the progressive evolution of the finance and accounting profession in Sri Lanka.

Nilusha Ranasinghe, Head of South Asia for ACCA, expressed her enthusiasm about the collaboration, stating, “This partnership with KPMG Sri Lanka is a testament to our dedication to providing our members, affiliates, and students with unparalleled opportunities for growth and development. By joining forces with KPMG, we aim to create a platform for knowledge exchange, networking, and professional enrichment in the dynamic landscape of the finance and accounting sector.”

Suren Rajakarier, Chief Operating Officer and Head of Audit at KPMG Sri Lanka and Maldives, highlighted the strategic importance of the collaboration saying ‘ At KPMG , we are committed to contributing to the continuous development of the finance and accounting profession in Sri Lanka. Partnering with ACCA Sri Lanka aligns with our vision to nurture talent and share industry insights. We also recognize that such collaborations shape opinions and drives creativity.’

Both ACCA Sri Lanka and KPMG Sri Lanka are confident that this collaboration will serve as a catalyst for excellence in the finance and accounting sector. The synergy between these two industry leaders is expected to create a positive impact on the professional development landscape in Sri Lanka, ultimately benefiting the broader business community.

January 3, 2024

The Commercial Bank of Ceylon PLC entered into a fresh Collective Agreement and a Memorandum of Understanding (MoU) with the Ceylon Bank Employees’ Union (CBEU) as one of its first acts of 2024, reaffirming the Bank’s unwavering commitment to ensuring better employee terms and conditions and to maintaining an efficient and productive working environment through cooperation between the Bank, the Union and employees.

The Collective Agreement covers and binds the Commercial Bank of Ceylon, the CBEU and members of the Union employed on permanent contracts of employment by the Bank in the Grade of Executive Assistants and Allied Grades and Non-Executive Grades, the Bank said. A Memorandum of Understanding was signed between the two parties covering and binding the employees in the Grade of Executive Officers.

The signed Collective Agreement and MoU will be effective till 31^stDecember 2026.

Pictured here at the signing of the agreement are (from left) the Acting Secretary – CBEU Branch Union Mr Ramesh Fernando, President – CBEU Branch Union Mr Sameera Kasun, CBEU Secretary Mr Ranjan Senanayake, CBEU President Mr Channa Dissanayake, Commercial Bank Managing Director/CEO Mr Sanath Manatunge, the Bank’s Chief Operating Officer Mr S. Prabagar and Deputy General Manager Human Resource Management Mr Isuru Tillakawardana.

November 30, 2023

Ceylinco Life and the Sri Lanka Institute of Marketing (SLIM) recently signed a Memorandum of Understanding (MoU) to conduct their Diploma in Financial Sales Management programme for a second batch of sales professionals from the Company.

A group of 30 Ceylinco Life salespersons graduated earlier this year as the first batch to complete this tailor-made Diploma designed for the life insurance market by SLIM. The top three students among those graduates were awarded scholarships to follow any of the courses offered by SLIM, with the batch top receiving 75% off from the cost of the course and the graduates placed second and third receiving 50% and 25% off from the cost respectively.

The Diploma in Financial Sales Management qualification was introduced by Ceylinco Life to enhance the skills, knowledge, and competencies of its sales personnel, and to nurture a highly proficient sales force capable of tapping into premier markets and delivering exceptional services to customers. The diploma programme included contemporary coursework, examinations and assignments to ensure a well-rounded education for the candidates.

A wide range of subjects such as effective sales practices for financial advisors, financial planning, communication, analytical skills development, time management, financial markets, taxation and more, are included in the diploma.

Founded in 1970, the Sri Lanka Institute of Marketing (SLIM) is the apex body for Sri Lankan marketers, and is mandated to uplift the marketing profession in Sri Lanka by providing marketing studies and conducting many national-level events and projects.

Adjudged Sri Lanka’s ‘Brand of the Year’ and ‘Service Brand of the Year’ by the Sri Lanka Institute of Marketing (SLIM) and ‘Best Life Insurer in Sri Lanka’ by World Finance for the ninth consecutive year in 2022, Ceylinco Life was conferred the ‘Peoples Life Insurance Service Provider of the Year’ title at 2023 SLIM Kantar Peoples Awards for the 17th consecutive year, and was recently named one of the 10 Most Admired Companies in Sri Lanka. Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence. The Company was also ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories by Brand Finance in 2023 and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022. Ceylinco Life has close to a million lives covered by active policies and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.

November 30, 2023

Sri Lanka’s most customer-friendly bank HNB PLC, renewed its partnership with Expo Property Developers (Pvt) Ltd to offer prospective homeowners with tailored and concessionary rates for apartments at the Expo Grand Condominium Complex. HNB Deputy General Manager – Retail Banking Group Sanjay Wijemanne and Expo Property Developers Director Anthony Fernando, graced the special ceremony organized to sign the MOU.

Speaking at the occasion, HNB Assistant General Manager – Personal Financial Services Kanchana Karunagama said: “We have always worked towards turning dreams into reality, especially when it comes to homeownership. The recent housing market has seen many challenges, but HNB remains committed to empowering customers to achieve their dream of owning a home. As such, we are proud to announce our partnership with Expo Property Developers, to offer prospective homeowners the best possible deals and convenient payment options.”

Delivering the best value to its customers, HNB will offer special interest rates benefits during the promotional period. Prospective homeowners can make use of convenient and flexible repayment options tailor-made to their budgets, together with doorstep mortgage advisory services provided by the bank’s dedicated agents, who will assist with the entire documentation needed for the facility. Notably, HNB’s backend processes ensure a three-day loan approval process.

“Our collaboration with HNB has enabled many prospective homeowners to embark on the journey of owning their dream home. We believe that this long-standing partnership will continue to reap mutual benefits to all stakeholders involved,” Expo Property Developers Director Gratien Fernando said.

The Expo Grand Condominium Complex, a flagship project under Expo Property Developers spanning across 180 perches, is nearing its full completion, which is expected by March 2024. The first two towers under the project were completed and successfully handed over to homeowners, while Towers 3 and 4, consisting of 206 total units as well as a super structure, have also been completed and are in the finalization stage.

With 254 customer centres and 800+ Self Service Devices (SSMs) nationwide, HNB is one of Sri Lanka’s largest, most technologically innovative private banks. Consolidating its legacy in

sustainability, good governance and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. The bank further secured four additional accolades, including being ranked among the Top 10 Best Corporate Citizens and taking home the Governance category and Sustainability Champion for the Finance sector titles.

Additionally, HNB was ranked among the World’s Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for the sixth consecutive year in 2022, in addition to being crowned the Best Retail Bank in Sri Lanka for the 13th occasion at the prestigious International Excellence in Retail Financial Services Awards 2023 hosted by the Asian Banker Magazine.

HNB and ICC collaborate to offer tailored home financing

LEARN and UNESCO Chair of APU Sign MoU to Empower Sri Lankan Educators

LEARN and UNESCO Chair of APU Sign MoU to Empower Sri Lankan Educators

SLASSCOM and Sri Lanka France Business Council Join Forces to Enhance Bilateral Cooperation

CSE partners with SLIM with the intention to promote capital market education among SLIM students.

SLT-MOBITEL partners with Bricks Developers, offering ultra-fast connectivity and digital lifestyles at ‘Thurstan 42’ in Colombo 03

ACCA Sri Lanka and KPMG Sri Lanka Forge Strategic Partnership with Signing of MOU

ComBank signs Collective Agreement and MoU with CBEU

Ceylinco Life and SLIM launch Diploma for 2nd batch of sales professionals

HNB and Expo Property sign MOU to offer customers exclusive benefits for Expo Grand Condominium