2025 Sri Lanka Barometer Survey Report launched: New insights on reconciliation, governance, and civic engagement

The 2025 Sri Lanka Barometer (SLB) Survey Report was officially launched at the Taj Samudra Hotel, Colombo. Administered every two years, this nationally representative public opinion survey tracks public sentiment on key issues such as post-conflict reconciliation, governance, and civic engagement over time.

The overarching objective of the SLB is to inform public discourse and policymaking in the country’s pursuit of greater unity and inclusion. It is supported by the Strengthening Social Cohesion and Peace in Sri Lanka (SCOPE) program, which is co-funded by the European Union and the German Federal Foreign Office, and implemented by GIZ in partnership with the Government of Sri Lanka.

The 2025 SLB Survey Report, presented at today’s event, captures how Sri Lankans perceive reconciliation amid the 2024/2025 political transition. It captures both renewed political trust and civic engagement, alongside concerns about institutional responsiveness. While many findings reveal citizen aspirations for change, their perceptions of actual progress remain limited and uneven, shaped by diverse lived experiences. The report highlights that reconciliation is not a fixed outcome but an ongoing process – dependent on credible, inclusive, and sustained action by relevant stakeholders.

The high-level launch brought together stakeholders from Government, civil society, academia, media, and the diplomatic community. Distinguished guests included: Religious and Cultural Affairs Deputy Minister Muneer Mulaffer; Ambassador of the European Union to Sri Lanka and the Maldives Carmen Moreno; Ambassador of the Federal Republic of Germany to Sri Lanka and the Maldives Dr. Felix Neumann; High Commissioner of South Africa Sandile Edwin Schalk.

‘The Sri Lanka Barometer provides essential insights into how citizens across the country view reconciliation and governance,’ said Ambassador Moreno. ‘The EU is proud to support efforts that place the voices of the people at the centre of national dialogue.’

Ambassador Neumann noted, ‘This report shows that Sri Lankans are increasingly aware of their rights and responsibilities as citizens. Understanding these perspectives is key to building trust and advancing sustainable peace. Germany is especially grateful to foster with the Sri Lanka Barometer a tool not just for analysis, but for action.’

To increase accessibility and public engagement, the SLB also launched a new Online Data Analysis Tool, an interactive platform that provides public access to survey results across all four iterations (2020, 2021, 2023 and 2025), enabling researchers, journalists, policymakers, and citizens to explore the data further.

In a major step towards institutional sustainability, the event also introduced The Insights Initiative, a newly established research organisation created to carry the SLB forward. The initiative will oversee the continued development of the SLB, with a focus on strengthening local ownership, research capacity, and the use of data for public discourse and inclusive policymaking. It also aims to serve as a hub for collaboration between academics, civil society organisations, and public institutions committed to evidence-based governance, reconciliation, and social cohesion.

Weligama PS Chairman’s murder: Four Police teams deployed

Four Police teams have been deployed to investigate the murder of Weligama Pradeshiya Sabha (PS) Chairman Lasantha Wickramasekara (38), who was shot dead yesterday (22) morning, Police Media Spokesman Assistant Superintendent of Police (ASP) F.U. Wootler said.

At the weekly post-Cabinet meeting media briefing, he said the investigation was being conducted under the direct instructions of the Senior Deputy Inspector General (SDIG) in charge of the Southern Province.

‘All available resources have been mobilised, and four teams have commenced inquiries to identify the perpetrators and motives behind this murder,’ he said.

The two unidentified gunmen on a motor bike opened fire at Wickramasekara, who was at his office at that time at the Weligama PS premises.

He was taken to the hospital with severe injuries but succumbed to his injuries at the Matara General Hospital.

According to the Police Spokesman, the gunman, who covered his face with a black mask, had entered Wickramasekara’s room pretending to get him to sign a letter. ‘The gunmen had used four bullets and the Police have confirmed that a pistol was used to shoot the PS Chairman,’ Wootler said. (SS)

Parliament Sub-Committee directs data collection on microfinance debt

The Parliament Secretariat yesterday said the Sub-Committee appointed under the Ministerial Consultative Committee on Rural Development, Social Security and Community Empowerment has instructed officials to collect data on individuals unable to repay microfinance

loans in four selected Divisional Secretariat (DS) Divisions across and Nuwara Eliya, Batticaloa, Polonnaruwa, and Colombo Districts.

The directive was issued during a recent meeting of the Sub-Committee on Future Steps to Address the Microfinance Lending Problem.

As a pilot project, data will first be collected from four DS Divisions: Hatton in Nuwara Eliya, South Koralaipattu in Batticaloa, Welikanda in Polonnaruwa, and Wellawatte in Colombo.

The Committee instructed ministry officials to initiate the process and ensure the data collection is conducted systematically to assess the scale of the problem.

The meeting also included discussions on possible relief mechanisms for borrowers facing financial distress and on designing interventions to support and rehabilitate those affected by high microfinance debt burdens.

It was also decided to summon representatives of the 34 microfinance institutions registered with the Lanka Microfinance Practitioners’ Association to explore relief measures and formulate joint solutions for indebted clients, the Parliament Secretariat said.

 First Capital world’s first investment institution accepted for SSCI certification

In a historic milestone for sustainable finance, First Capital Holdings PLC, has been awarded the Certificate of Acceptance to the Sustainability Standards and Certification Initiative (SSCI) by the European Organisation for Sustainable Development (EOSD).

This landmark recognition was conferred recently during the Annual Global Sustainable Finance Conference held in Karlsruhe, Germany, positioning First Capital as the world’s first investment institution to receive this prestigious accolade.

A subsidiary of JXG (Janashakthi Group), First Capital Holdings is a pioneering full-service investment institution.

The latest achievement underscores First Capital’s commitment to embedding Environmental, Social and Governance (ESG) principles at the core of its investment philosophy. The SSCI Certificate of Acceptance affirms the company’s alignment with globally accepted sustainability standards and best practices, reinforcing its status as a responsible, future-ready leader in the global financial landscape.

In addition to receiving the SSCI recognition, Managing Director/CEO Dilshan Wirasekara was invited to participate as a panelist at the Annual Global Sustainable Finance Conference, hosted by the European Organisation for Sustainable Development in Karlsruhe, Germany.

Wirasekara joined an elite panel of global financial leaders to discuss ‘Financial Services in a Fast-Changing Economic World,’ offering strategic insights into how financial institutions must respond to evolving market dynamics through resilience, innovation and ESG integration. His contribution reflected First Capital’s deep commitment to aligning financial performance with sustainable impact, particularly within emerging markets.

The combination of thought leadership and global recognition at the same event positioned First Capital at the forefront of the sustainable finance movement, creating significant visibility for the company’s pioneering role on the international stage.

‘Receiving the Certificate of Acceptance to the SSCI is a transformative moment, not only for First Capital, but also for the broader South Asian financial sector,’ said Wirasekara. ‘This recognition reinforces our belief that sustainable finance is no longer a future ambition but a current imperative. We remain deeply committed to advancing ESG integration across all our operations, driving long-term value for our stakeholders, our economy and the environment.’ International Council of Sustainability Standards for Value-Driven Financial Institutions Chairman and EOSD CEO Arshad Rab said: ‘The International Council of Sustainability Standards for Value-Driven Financial Institutions is pleased to announce that First Capital PLC, one of Sri Lanka’s most forward-looking investment institutions, has officially joined the Sustainability Standards and Certification Initiative (SSCI). With over three decades of experience in capital markets, First Capital has been instrumental in strengthening Sri Lanka’s financial sector and supporting both individuals and businesses in achieving their financial goals. Its entry into SSCI reflects the company’s deep commitment to embedding true and holistic sustainability. We are delighted to welcome First Capital into the Sustainability Standards and Certification Initiative. Together, we will demonstrate that creating social, economic, and environmental value while reporting strong corporate performance are two sides of the same coin. We have no doubt about the commitment of First Capital, its management, and its shareholders to this vision.’

‘We look forward to working with First Capital to build a purpose-led institution that champions sustainable finance and contributes meaningfully to Sri Lanka’s economic and social progress while preserving the nature and combatting climate change,’ he added.

The SSCI is a global benchmark developed by EOSD to promote responsible financial institutions that actively support sustainable operations through transparent, accountable and verifiable ESG frameworks. First Capital’s acceptance to certification is not only a validation of its ongoing sustainability journey, but also a call to action for the investment community to align capital with purpose.

As the financial industry increasingly acknowledges the strategic imperative of sustainability, First Capital’s pioneering recognition by SSCI affirms its readiness to shape the future of finance where returns are measured not only in financial metrics, but also in social and environmental outcomes.

Deanath Kulathunga champion HSBC Premier Golfer for 2025

HSBC recently concluded its 12th Premier Golf Tournament, an exclusive event celebrating the Bank’s long-standing relationship with customers which saw over 140 golfers, the highest number to participate at this event.

Held at the picturesque Nuwara Eliya Golf Club, the tournament brought together HSBC Premier golfers for a thrilling weekend of spirited competition, camaraderie, and fun activities.

This year’s champion Deanath Kulathunga emerged victorious scoring 41 points and won the converted HSBC Premier challenge trophy, and earned the grand prize of a once in a lifetime opportunity to witness ‘The 154th Open’ Championship at Royal Birkdale in England, one of golf’s oldest major’s and an iconic tournament to be held from 16 to 19 July 2026.

Chanaka Perera scored 32 points to win the A division and Thusara Rupasinghe won the B division scoring 40 points, while Dinoo De Mel won the Ladies with 39 points and Reyhan Morris scored 35 points to win the C division.

Golfers were able to enjoy a day of competitive Golf followed by an elegant awards dinner where winners were awarded and recognised for their achievements on the course, held at the Nuwara Eliya Golf Club House.

List of winners

Winner Overall Premier Challenge Trophy: Deanath Kulathunga 41 points

Winner A Division: Chanaka Perera 32 points

Winner B Division: Thushara Rupasinghe 40 points

Winner C Division: Reyhan Morris 35 points

Winner Seniors: Deanath Kulathunga 41 points

Winner Ladies: Dinoo De Mel 39 points

Putting under the Stars: Prinyanga Hapugalle

Longest Drive: Sathis Balasubramanium

Nearest to the pin: Sathis Balasubramanium

Runner up A division: Sanjiv Vairavanathan 30 points

Runner up B division: Romesh Abhayaratne 38 points B/B 9

Runner up C division: Mohamed Reza 33 points

Runner up Seniors: Asitha Wijesekera 32 points B/B 9

Runner up Ladies: Anouck Chitty 34 points

Insurance luminary Nihal Senaratne honoured by CII for Lifetime Contribution

In a landmark moment for Sri Lanka’s insurance industry, Senaratne Insurance Brokers Ltd., Chairman Nihal Senaratne has been honoured by the Chartered Insurance Institute (CII) of London, UK, for his outstanding contribution to the profession.

The accolade was presented during a visit to his office in Colombo by senior CII officials; Executive Director (Market and Opportunities) Holly Porter and Regional Director (Middle East, Central and South Asia) Gaenor Jones.

The recognition celebrates Senaratne’s remarkable legacy spanning over seven decades, marked by visionary leadership, industry innovation, and an unwavering commitment to professional excellence. This accolade, accompanied by a formal certificate of commendation, is believed to be the first of its kind ever issued by the CII – London, marking a truly historic moment for both Senaratne and the Sri Lankan insurance community.

In his remarks, Senaratne said: ‘To be recognised by the Chartered Insurance Institute of London is a humbling honour. My journey in insurance has always been about service to clients, colleagues, and the industry I hold dear. This commendation is not mine alone; it belongs to every Sri Lankan professional who has worked tirelessly to elevate our standards and reputation on the global stage.’

Founded in 1979, Senaratne Insurance Brokers has long been a pillar of independent financial insurance broking in Sri Lanka. Under Senaratne’s stewardship, the firm has grown into a client-centric powerhouse, known for its technical expertise, ethical standards, and long-term partnerships. The company’s emphasis on Chartered qualifications and continuous professional development has made it a model of best practice, as highlighted in a recent CII case study.

Former CII President Jane Portas praised Senaratne’s ‘visionary leadership and enduring impact,’ noting that ‘his dedication to raising professional standards has not only transformed his own firm but has elevated the entire Sri Lankan insurance landscape.’

The recognition comes on the heels of Senaratne’s 72nd anniversary in the industry; a milestone celebrated earlier this year by colleagues, clients, and peers across the region.

Known for his humility and sharp intellect, Senaratne reflected on the honour with characteristic grace: ‘To be recognised by the Chartered Insurance Institute of London is a humbling honour. My journey in insurance has always been about service to clients, colleagues, and the industry I hold dear. This commendation is not mine alone. It belongs to every colleague, client, and partner who believed in the power of trust, professionalism, and service and to every Sri Lankan professional who has worked tirelessly to elevate our standards and reputation on the global stage.’

The accolade also underscores the growing global recognition of Sri Lanka’s insurance talent. As the industry navigates digital transformation and evolving risk landscapes, leaders like Senaratne continue to inspire a new generation of professionals committed to excellence and integrity.

In a career spanning an unprecedented 72 years, Senaratne has become a towering figure in Sri Lanka’s insurance landscape, leaving an indelible mark on both national and international platforms. Born on 3rd January 1934, Senaratne is the son of two distinguished Sri Lankans; Loranee Senaratne, the country’s first female ambassador, and Dr. Owen L. F. Senaratne, a renowned eye surgeon. A proud alumnus of Royal College Colombo, his journey in insurance began in February 1953 as a Trainee Manager at Bosanquet and Skrine Ltd.

Following the acquisition of Bosanquet and Skrine by Whittall Boustead Ltd., Senaratne continued his dual career in insurance and plantation management, rising to become a Director of the Whittals Group at just 34 years of age. Concurrently, he chaired several rupee plantation companies, demonstrating his versatility across sectors.

In 1972, Senaratne ventured into independent practice, establishing an insurance consultancy that was formally incorporated on 14th September 1979. With the privatisation of insurance in 1988, the firm evolved into Senaratne Insurance Brokers Ltd., where he continues to serve as Founder Chairman.

His contributions extend far beyond corporate leadership. He was instrumental in founding the Sri Lanka Insurance Institute and later served as its President, strengthening its affiliation with the Chartered Insurance Institute (CII) of the UK. He also held the presidency of the Sri Lanka Insurance Brokers Association and chaired the Insurance Advisory Committee of the Ceylon Chamber of Commerce for nearly two decades.

Internationally, Senaratne broke new ground in 1986 as the only Sri Lankan ever invited by the Association of British Insurers to address Britain’s insurance industry. He was appointed to the International Roster of Insurance Experts by UNCTAD in 1978 and became the first private sector representative on the Government’s Insurance Advisory Committee under the Insurance (Amendment) Act No. 42 of 1986.

His affiliations include Charter Membership in the International Insurance Society (Alabama, USA), and leadership roles such as Chairman of the Insurance Committee of the Ceylon Planters’ Association and Founder Vice President of the Association of Chartered Insurance Professionals in Sri Lanka.

Beyond insurance, Senaratne also served as Chairman of the Colombo Tea Traders Association, a body that has guided Sri Lanka’s premier export commodity for over 156 years. Senaratne’s legacy is one of pioneering leadership, institutional development, and unwavering commitment to professional excellence. His contributions continue to inspire generations of insurance professionals across Sri Lanka and beyond.

 ‘Govt. should impose death penalty’ – Prof. Mahanamahewa

With Sri Lanka grappling with an alarming rise in drug-related crimes and the growing influence of organised underworld networks, legal expert and former Human Rights Commissioner Prof. Prathiba Mahanamahewa has urged the Government to consider reintroducing the death penalty on a temporary basis especially for notorious drug traffickers.

He emphasised that if the Government intended to control the existing scale of drug menace, it needed to have stronger deterrents than the country’s present laws.

‘These are not ordinary criminals. They are part of highly organised cartels dealing in drugs, arms, and human trafficking, and they continue to operate from prisons and overseas. Society’s needs are higher than human rights at this point,’ he told the Daily FT.

Prof. Mahanamahewa said that his call was not for permanently bringing capital punishment but a temporary measure until Sri Lanka establishes a robust national security and justice framework similar to the USA Patriot Act of 2001.

He also highlighted the urgent need for international cooperation to curb the escape of criminals seeking asylum abroad, especially in European countries, having fast-track judicial processes, and responsible media reporting that does not glorify offenders.

Prof. Mahanamahewa, in this interview, explained the legal, moral, and practical aspects of reinstating the death penalty, his proposed alternatives, and the balance between human rights and national security in today’s Sri Lanka.

I am not recommending the death penalty as a permanent solution, but as a temporary measure until stronger legal frameworks are in place. Human rights must always be respected, and the right to life is enshrined in our Constitution. But when the safety of the entire nation is at stake, the Government must prioritise the collective good. I propose executing only those convicted of serious drug trafficking, not other criminals

By Shanika Sriyananda

Q: Why do you want the Government to consider reintroducing the death penalty?

A: Many underworld kingpins and serious offenders are involved in dangerous drug-related crimes. These culprits operate in organised gangs engaged in drug and arms trafficking, human trafficking, modern slavery, cybercrimes, money laundering, and immigration-related crimes.

In Sri Lanka, most suspects involved in organised crime have Interpol Red Notices, and there is now enhanced international cooperation among Asian countries. These criminals have accumulated billions in illicit wealth. With emerging drug cartels operating within Sri Lanka, the entire society is under threat.

At present, such offenders are detained under the Prevention of Terrorism Act (PTA) of 1979, as it allows authorities to hold suspects for 72 hours, and with approval, for 90 days or more. There is no other law that provides for this. For instance, the recently arrested five major drug smugglers are being held under the PTA.

If the PTA is abolished, as proposed, these criminals could be released or pardoned. The 2022 amendment to the PTA allows detention only under specific circumstances such as when there is clear evidence that the suspect might escape custody.

While some diaspora groups are advocating for the release of former LTTE cadres held under the PTA, the law is now also crucial for detaining dangerous organised criminals. Therefore, I urge the Government to introduce a National Security Act or a Patriotic Act, similar to the USA, to safeguard the country.

Currently, many criminals who are granted bail flee to Europe, particularly France and seek political or humanitarian asylum. Since the last execution in Sri Lanka on June 23, 1976, no one has been hanged, even though drug trafficking continues to rise. Some time ago, this issue became highly politicised, but the Government is now attempting to take control.

Drug traffickers view Sri Lanka as a liberal, relaxed country where smuggling is easy. The Government spends about Rs. 500 per prisoner daily but many operate their networks from inside prisons using mobile phones. This situation only encourages the drug trade.

Q: But there are strong objections from human rights organisations and religious leaders against capital punishment. What are your thoughts?

A: I fully support human rights and oppose lifetime imprisonment or execution as a general practice. However, society’s needs must come first. I’m not recommending a permanent reintroduction of the death penalty, but rather a temporary measure until alternative mechanisms are established.

Everyone remains silent while the drug menace grows. Former Governments had tried to reinstate the death penalty as a measure to bring down the escalating crime rate. Remember during former President Maithripala Sirisena’s tenure, even the Prison’s Department recruited a hangman and ordered a rope but due to protests, it was abandoned.

If a national survey was conducted today, I am confident that the majority of Sri Lankans would support the reintroduction of the death penalty, as they want to see a drug-free Sri Lanka for the sake of future generations.

Q: What alternative methods do you propose?

A: Instead of granting bail to major drug traffickers or serious criminals who later vanish, we can introduce measures like house arrest or establish special courts to expedite these cases.

The biggest problem lies in delays, especially with reports from the Government Analyst’s Department. Therefore, a dedicated unit must be established to work round the clock on such cases.

Proper rehabilitation and continuous monitoring using modern technology, including satellite tracking, are also essential.

When it comes to extradition, countries like France and Germany rarely return such criminals. Even with extradition orders, these individuals seek asylum and prolong proceedings through legal challenges.

For instance, in the case of the recent female suspect Sevandhi, who attempted to flee to the EU. The criminals had spent a massive amount of money but due to the capabilities of our investigators she was arrested.

Q: What countries still implement the death penalty, and are they successful in combating drug-related crimes?

A: Countries like China, Singapore, Botswana, the UAE, Saudi Arabia, Yemen, Afghanistan, Japan, and India still carry out executions, some temporarily and others regularly. Botswana, for example, resumed executions in 2022.

While no country has achieved 100% success, the rate of organised crime tends to drop when strict laws are enforced. Sri Lanka continues to seize over 1,000 kilograms of drugs at a time, yet new shipments keep arriving in the country.

I believe at least a temporary reintroduction of the death penalty would create a strong deterrent effect. My goal is to raise awareness among young people about the law and its consequences when involved in crimes, including drug trafficking and underworld crimes.

Q: How conducive is Sri Lanka’s legal environment if we are to reintroduce the death penalty?

A: According to Human Rights Watch, as of September 2025, there are 1,299 in death row, including 1,215 men, 84 females and 48 prisoners on drug related offences. Many are languishing in the prison since 1980s. Their sentences often get converted to life imprisonment, and with time, they can be pardoned. Presidential pardons for such offenders should not be allowed.

Legally, there is no domestic barrier. Once the High Court judge signs the order, the convicted person can still appeal to the Supreme Court.

The only challenge is at the international level, due to Sri Lanka’s obligations under the UN system. While Sri Lanka has signed the International Covenant on Civil and Political Rights (ICCPR) of 1966, it has not signed the optional protocol on abolishing the death penalty. Hence, we can legally proceed.

There will be pressure from organisations like Human Rights Watch and Amnesty International, but even countries such as Singapore and Saudi Arabia, both UN members, still enforce the death penalty.

Q: How do you assess the Government’s current efforts to combat the drug mafia?

A: The Government is doing commendable work. The introduction of the Proceeds of Crime Act is an excellent step, allowing authorities to trace and confiscate illegal assets of politicians, smugglers, and underworld figures.

Plans to bring a Serious Organised Crimes Prevention Bill is also welcome. International cooperation has improved, and several major arrests have been made recently with foreign assistance.

The Government should also strengthen extradition laws and mutual legal assistance agreements with EU countries like France, Germany, Luxembourg, and Austria to prevent these criminals from gaining asylum.

However, authorities must also increase public awareness and act impartially when enforcing the law.

Q: The Government plans to replace the PTA with a National Security Act. What are your thoughts?

A: I haven’t seen the draft, but since 2010, the UN has been pressuring Sri Lanka to abolish the PTA, alleging its misuse against politicians and former LTTE cadres. Now, however, it’s used mainly against drug traffickers.

If the PTA is abolished, the Government must ensure that ongoing detainees, such as the recently arrested five drug kingpins, are legally transferred to the new Act. Otherwise, they could be released.

I propose using the Serious Organised Crimes Act for this transition and temporarily reinstating the death penalty during this period after a proper case-by-case review.

Q: You have also proposed a law similar to the US Patriotic Act. Why?

A: Yes. After 9/11, the US introduced the Patriotic Act, which allows investigators to act swiftly on matters of national security, even without a warrant. Such a law empowers the state to respond effectively to threats.

Even if Sri Lanka reinstates the death penalty, the UN Human Rights Council alone cannot impose sanctions, as such decisions require UN Security Council approval.

If human rights bodies truly oppose the death penalty, they should impose sanctions on all countries that practice it, but not selectively on developing nations.

Q: What do you think the Government should do about the massive assets owned by these criminals?

A: Many local assets of drug dealers have been seized, but a large portion of their wealth is hidden abroad. The Government must strengthen diplomatic channels to trace and confiscate those foreign assets.

We have done this before, like when the Central Bank froze the assets of the LTTE’s TRO organisation. With strong international collaboration, this can be achieved again.

Q: As a former Human Rights Commissioner, how do you justify calling for the death penalty?

A: I am not recommending the death penalty as a permanent solution, but as a temporary measure until stronger legal frameworks are in place.

Human rights must always be respected, and the right to life is enshrined in our Constitution. But when the safety of the entire nation is at stake, the Government must prioritise the collective good.

I propose executing only those convicted of serious drug trafficking, not other criminals.

Q: Social media often glamorises these incidents, turning criminals into heroes. What is your view?

A: It is extremely unethical. When a Sri Lankan suspect kills multiple people in Canada, foreign media did not show every detail. But here, local media sensationalise every step, from airport arrivals to court appearances.

Faces of suspects should only be shown when authorities genuinely need public help to identify them. Otherwise, such exposure interferes with investigations and glorifies crime.

The Government must strictly regulate media coverage of ongoing investigations. The Government should also put restrictions on Police to prohibit individual investigators commenting and providing information on these highly secret investigations to the media. The information on progress of investigations should come only through an official channel such as the Police Spokesperson after proper verification.

Some media outlets and social media pages chase views and subscribers at the expense of ethics. This damages public trust and negatively influences young people. Freedom of expression is important, but it must not compromise national security.

Softlogic Life raises bar for corporate reporting disclosures with AI innovation

Softlogic Life has redefined the nation’s corporate reporting landscape with the launch of its ground-breaking 2024 Annual Report themed ‘CHANGE MAKER.’

Introducing a suite of cutting-edge, AI-powered features, the company reinforces its unwavering commitment to transparency, accountability, governance, and sustainability. This latest innovation cements Softlogic Life’s position as a trailblazer in Sri Lanka’s financial reporting sphere, transforming traditional corporate reporting from a static obligation into a dynamic, interactive, and AI-driven experience that seamlessly integrates financial performance with long-term sustainability.

The 2024 Annual Report introduces a suite of first of its kind innovations that fundamentally change how stakeholders interact with corporate information. The Customised AI powered report feature enables personalised access by tailoring content to an individual’s preferred type, language, length, and style, making complex information more relevant, simple and accessible. Complementing this is the introduction of gamification, where stakeholders, especially the youth, can test their knowledge through interactive AI generated quizzes, compete on leaderboards, earn certifications and engage with business insights in a more dynamic, inclusive and memorable way.

With a clear vision, Softlogic Life stands out among Sri Lanka’s future-ready organisations for its belief in AI and technology as engines of scalable growth. Continuing its track record of industry firsts, this reinforces Softlogic Life’s position as a progressive, tech-led insurer redefining industry standard. Going beyond strong performance, Softlogic Life has reaffirmed its commitment to transparency, accountability, governance, and sustainability.

At the 59th CA TAGS Awards 2024, the company earned a prestigious Top 3 placement among Sri Lanka’s leading corporates, becoming the only stand-alone company to achieve this milestone for the fourth consecutive year. In addition, Softlogic Life was honoured with the Bronze Award for Overall Excellence in Corporate Reporting, along with six other distinguished industry accolades, highlighting its consistent pursuit of corporate excellence. For Softlogic Life, innovation is a responsibility towards strengthening trust, democratising access to information, and building a more resilient future for all.

At the core of these innovations is Softlogic Life’s belief in profits with purpose. For the company, financial performance is not an end in itself but a means of enhancing the quality of more than one million Sri Lankan lives, employees, investors, and wider society. By aligning reporting with its purpose-driven strategy, Softlogic Life ensures that every stakeholder can clearly see how profitability is directly linked and impacts towards customer wellbeing, employee growth, shareholder value, and environmental stewardship. The integration of AI, personalisation, and sustainability metrics into reporting reflects this philosophy, demonstrating that true progress comes from balancing growth with responsibility, and impact with transparency.

Softlogic Life has successfully implemented the Sri Lanka Financial Reporting Standards (SLFRS) S1 and S2, demonstrating its continued leadership in transparency, governance, and sustainability reporting. The implementation reflects a comprehensive and forward-looking approach, fully integrating sustainability disclosures across the company’s operations and strategy. Importantly, Softlogic Life obtained independent external assurance for its SLFRS S1 and S2 disclosures, reinforcing the credibility and reliability of the reported information. What sets Softlogic Life apart is its pioneering effort to link S1 and S2 sustainability disclosures directly with its financial statements, ensuring consistency and alignment between financial performance and sustainability outcomes. This integration provides stakeholders with a holistic view of the company’s value creation, risk management, and long-term resilience an achievement that distinguishes Softlogic Life as a benchmark setter within the Sri Lankan insurance sector. Through this initiative, Softlogic Life reaffirms its commitment to transparency, accountability, and sustainable growth in alignment with global best practices.

Softlogic Life Managing Director, Iftikar Ahamed said: ‘Our philosophy has always been that business success is measured not only by financial growth, but by the impact we create in people’s lives. By embedding profits with purpose into our reporting, we are making it clear that every milestone in innovation, market leadership, or sustainability to be directly contributing to improving the quality of life for our stakeholders. As pioneers in reimagining corporate reporting, we see this as part of a continuous journey to redefine how business can drive progress with transparency, inclusivity and accountability.’

This milestone builds on Softlogic Life’s established track record of redefining how corporate information is presented customised to its various stakeholders across generations. The company pioneered Sri Lanka’s first video Annual Report back in 2017, breaking industry norms by presenting integrated reporting through engaging infographics and visual storytelling. In 2024, it introduced Sri Lanka’s first AI-enabled Annual Report Analyser, complete with ‘Lifey’, a voice- and text-enabled AI assistant capable of analysing complex financial and operational data in real time. This made Softlogic Life the first company in Sri Lanka to integrate AI capabilities of this magnitude into annual report analysis.

Softlogic Life Chief Financial Officer Nuwan Withanage said: ‘Corporate reporting can no longer be a retrospective exercise. It must empower stakeholders to understand not just where we have been, but where we are going and why it matters. With tools like AI-powered personalisation, real-time insights, we are transforming disclosure into dialogue. This ensures that performance is understood in the context of purpose; how our financial strength translates into greater resilience, better customer outcomes, and sustainable value creation for society at large.’

Govt. resorting to change law to revive FDI with tax incentives

The Cabinet of Ministers yesterday approved amendments to the Mahinda Rajapaksa-era Strategic Development Projects Act to enable tax incentives to attract Foreign Direct Investment (FDI) for large-scale projects, thereby circumventing limitations on tax incentives under the International Monetary Fund (IMF) program.

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the Attorney General has cleared the draft, which will now be gazetted and tabled in Parliament.

The move comes as the Government seeks to revive major investments, including the $ 3.7 billion Hambantota oil refinery and Port City projects, both of which had been delayed due to the absence of tax concessions under existing laws.

The IMF has previously cautioned that tax exemptions have contributed to weak Government revenue performance, but the Government is proceeding with limited, project-specific incentives to attract strategic

investment.

Dr. Jayatissa said the amendments are intended to support capital-intensive projects that are critical for the country’s economic recovery while maintaining fiscal discipline under the IMF program.

Both the World Bank and Human Rights Watch have warned of the adverse economic and social consequences of offering tax concessions and long-term tax holidays, noting that such policies can weaken public finances, distort fiscal equity, and push people towards poverty.

Advocata Institute Chairman and JB Securities CEO Murtaza Jafferjee writing in the Daily FT yesterday said: ‘There is no defensible justification for granting tax concessions in the Port City. The location is already uniquely advantaged. It already enjoys location, infrastructure, and regulatory advantages. Layering tax concessions on top is both unjust to other tax payers and corrosive to the broader economy.’

 NDB Bank excels once again at NBQSA 2025 with dual wins for Secure360 2.0 and TradeLinc 2.0

National Development Bank PLC (NDB Bank) has earned two prestigious recognitions at the National Best Quality Software Awards (NBQSA) 2025, hosted by the BCS The Chartered Institute for IT (Sri Lanka Section).

NDB’s Secure360 secured the Silver Award in the In-house Non-ICT Category for an innovative solution leveraging AI and ML to strengthen banks’ defence against cyberthreats. This next-generation security vulnerability and defence solution is designed to proactively identify, analyse, and manage cyber-threats across the Bank’s digital infrastructure. By harnessing the power of Artificial Intelligence (AI) and Machine Learning (ML), Secure360 provides intelligent risk scoring and predictive analytics to enhance the Bank’s defense mechanisms. The platform exemplifies NDB’s dedication to maintaining robust digital security and ensuring the protection of its customers’ data in an increasingly complex threat landscape.

NDB’s flagship Supply Chain Financing platform, TradeLinc too was recognised in the Consumer Category – Banking, Insurance, and Finance. TradeLinc new version built on the success of its predecessor by incorporating AI-assisted credit scoring, significantly improving the on boarding process and reducing turnaround times for corporate and SME clients. The unique platform delivers a fully digital, end-to-end solution that enhances supply chain visibility, facilitates real-time funding, and provides flexible financing options tailored to Sri Lankan businesses.

NDB Bank Chief Information Officer (CIO) Indika Gunawardana said: ‘TradeLinc and Secure360 demonstrate the strength and innovation of our IT team in delivering cutting-edge digital solutions. The use of AI and ML in these platforms highlights our on-going commitment to technological advancement and excellence. Our teams’ dedication, strengthened by the unwavering support of the senior leadership, is truly commendable. Together, we remain focused on safeguarding our customers’ data while continuously enhancing their digital banking experience.’