Category: Daily Financial Times

Amana Bank Vice President Retail Banking and Marketing Siddeeque Akbar together with Warakapola Pradeshiya Sabha Leader of the Opposition M.B.M. Shareef, Police Station Warakapola Officer-in-Charge R.A.J.S. Ranaweera and Warakapola Pradeshiya Sabha Chairman Chandana Edirisinghe at the opening of Amana Bank Warakapola Self Banking Centre

Continuing its commitment towards expanding accessible and convenient banking services across Sri Lanka, Amana Bank recently opened its 47th Self Banking Centre in Warakapola, further strengthening the Bank’s footprint and bringing banking convenience to customers in the area.

Strategically located at No. 77, Kandy Road, Warakapola, the newly opened Self Banking Centre offers customers 24/7 access to cash withdrawals, cash deposits, cheque deposits and bill payments, delivering greater convenience to individuals, businesses, and the wider community in and around Warakapola.

Amana Bank Vice President Retail Banking and Marketing Siddeeque Akbar said: ‘Warakapola is an important addition to our growing network, and we are delighted to become a part of this vibrant community. Through our Self Banking Centre, we aim to bring our development focussed and people friendly approach to banking closer to the people of Warakapola by providing convenient, secure, and round-the-clock access to essential banking services.’

As part of the opening celebrations, Amana Bank also carried out a community engagement initiative by distributing school stationery items to underprivileged primary schools in the area, reaffirming the Bank’s commitment towards social responsibility and community development.

The opening ceremony was also attended by distinguished guests including Warakapola Divisional Secretary Rangana Sanjeewa, Warakapola Police Station Officer-in-Charge R. A. J. S. Ranaweera, together with community leaders, business representatives, customers, and well-wishers from the area. Other representing Amana Bank were Assistant Vice President – Region 2 Azam Ameer, Manager Mawanella Branch Mohamed Razik and others.

The country’s manufacturing and services sectors in June have expanded, though at a slower rate compared to the previous month, as per the Purchasing Managers’ Index (PMI), its compiler the Central Bank of Sri Lanka (CBSL) said.

The Manufacturing PMI registered an index value of 53 in June, indicating a continued expansion in manufacturing activities, although at a slower rate compared to 56.6 in May 2026.

The CBSL said incoming orders in June were broadly unchanged from the previous month, with the New Orders sub-index remaining at the neutral threshold.

It added that the Production sub-index continued to expand, driven by the manufacture of food and beverages sector.

The Employment sub-index remained around the neutral threshold, indicating hiring trends similar to those in the previous month.

However, the CBSL said many respondents cited persistent skilled labour shortages and rising labour costs as key challenges.

The Stock of Purchases sub-index increased further in June, reflecting firms’ efforts to build inventory amid a volatile supply environment.

Nevertheless, the Suppliers’ Delivery Time sub-index continued to lengthen in June.

The CBSL said expectations for manufacturing activities remained positive, though moderated mainly by the challenging environment associated with the unrest in the Middle East.

The Services PMI registered an index value of 58.5 in June, indicating continued expansion in services activities compared to 56.9 the previous month.

The CBSL noted that business activities expanded in June, supported by broad sectoral improvements. Growth was primarily driven by the financial and professional services sub-sectors, alongside notable gains in the insurance sector.

New Businesses grew to 62.5 in June from 58 in May 2026, primarily led by the financial services sector. The insurance, professional services, and other personal services sectors also contributed to the expansion.

Employment increased in June to 54 from 49.4 in May 2025, as multiple companies expanded their workforce. Meanwhile, the Backlogs of Work sub-index, which had been falling in May, held steady in June at 50 as the index reached the neutral threshold.

The CBSL said expectations for business activity for the next quarter remained positive, driven by anticipated economic improvements and the expected surge in tourist arrivals, partly driven by the upcoming Kandy Esala Perahera season. However, broader global uncertainties still pose risks to the outlook.

President Anura Kumara Dissanayake has signalled that improving Sri Lanka’s public transport system will be a key priority in the 2027 Budget, positioning investment in affordable and accessible mobility as both a social policy and an economic measure aimed at reducing household costs and improving productivity.

At a pre-Budget review of the Transport, Highways and Urban Development Ministry yesterday, the President said Sri Lanka must develop ‘a quality and accessible public transport system that benefits every individual,’ arguing that an efficient network would reduce the financial burden of daily commuting while providing reliable transport services across the country.

In a notable policy comparison, the President said the development of public transport should receive the same level of attention afforded to Sri Lanka’s free healthcare system, underscoring the Government’s intention to elevate transport infrastructure as a core public service rather than merely a capital expenditure program.

The meeting reviewed the progress of projects implemented under the 2026 Budget and considered funding priorities for next year’s Budget across the transport, highways, and urban development sectors.

Among the initiatives discussed was a program to gradually retire ageing buses and introduce new vehicles into the national fleet. The President said replacing older buses with better-equipped vehicles, including metro buses for short-distance urban services, would improve passenger comfort and service quality.

Beyond transport, discussions also covered apartment construction projects, urban waste management programs, and initiatives under the Government’s City Branding program, with officials reviewing projects that could be completed and commissioned this year.

Reflecting a stronger emphasis on public investment discipline, President Dissanayake instructed officials to identify projects that could realistically be completed within the next year, prioritise them accordingly, and align Budget allocations with those priorities.

He also directed that projects financed through foreign loans should not receive approval unless there is a clear understanding of their intended outcomes, signalling a greater focus on project evaluation and value for money amid continued reliance on external financing for infrastructure development.

Twenty-five years gives us good reason to look back with pride, but it also asks us to consider what comes next. What has always stood out to me about AHRP is its ability to keep the HR profession connected to the business realities facing organisations. Over the years, the Association has created opportunities for practitioners to learn from one another, engage directly with business leaders and gain access to international thinking that may otherwise have remained beyond their reach.

The expectations placed on HR have changed considerably during this time. Organisations once looked to HR primarily for policies, processes and people administration. Today, HR leaders sit alongside other business leaders, contributing to the business agenda through its people strategy. Artificial intelligence is accelerating this shift by changing how work is designed, which skills matter, how performance is assessed and how decisions are made. Yet AI alone will not determine whether organisations succeed. Leadership, judgement, trust and the ability to bring people together will remain just as important.

This is where AHRP has a meaningful role to play. Our responsibility is to bring relevant global knowledge into the Sri Lankan context and turn it into practical value. As part of our 25th-anniversary programme, the session ‘Shaping the Future of Work and Organisations’ on 16 July 2026 will continue this work. A keynote by Ankhit Khanna, Director Talent Solutions, LinkedIn will be followed by a panel discussion featuring Chathuri Munaweera, CEO of AIA Insurance Sri Lanka, Anshuman Upadhyaya, Managing Director and Partner of BCG, Guna Grace, Head of Enterprise Sales of LinkedIn and Shaakun Khanna, Head of Leadership and HR transformation of SHRM. The discussion will examine latest talent trends, skills-based organisations, productivity in the age of AI, and what the future holds for humans while grounding these global developments in Sri Lankan realities.

As AHRP enters its next 25 years, we will continue to strengthen the link between HR and business, create opportunities for emerging professionals and remain open to new ideas without losing sight of our human responsibility. I extend my appreciation to everyone who has contributed to AHRP’s 25 year legacy and invite all to join us in laying the foundation for the next 25.

Sri Lanka Cricket (SLC), administered currently under a Government-appointed Transformation Committee. has been asked by the International Cricket Council (ICC) to hold elections as soon as possible at their annual meetings held in Edinburgh.

A media release from the ICC states:

‘The ICC Board received an update on Sri Lanka Cricket and noted progress towards a revised Constitution. It reiterated the need for elections to be held as soon as possible and agreed that Sri Lanka Cricket would continue to be unable to be represented at ICC Board meetings for the time being.’

The ICC strongly objects to Government-appointed bodies running cricket and only recognises elected bodies.

SLC is currently run by a nine-member Government-appointed Transformation Committee headed by former Parliamentarian Eran Wickramararatne.

The Committee is tasked with rewriting the SLC constitution and completely overhauling its administrative framework following allegations of substantial corruption, mismanagement and inefficiency which led the executive committee headed by Shammi Silva to resign en bloc on 28 April.

The ICC Board recognised the appointment of the newly elected President of the Bangladesh Cricket Board as the Member’s Full Member Director and also approved the admission of Mauritius as its 111th Member.

As organisations compete in an era defined by rapid technological change, evolving workforce expectations and increasing stakeholder scrutiny, boards are recognising that talent and organisational culture are no longer operational concerns-they are strategic governance priorities. The organisations that attract, develop and retain exceptional talent while fostering high-performance cultures will be those best positioned to create sustainable long-term value.

Reflecting this growing imperative, the Sri Lanka Institute of Directors (SLID) will present a thought provoking session titled ‘Talent and Culture – What Boards Can No Longer Ignore’ at the Sri Lanka Corporate Director Summit 2026, bringing together globally recognised experts, business leaders and governance professionals to discuss the board’s expanding responsibility in shaping future-ready organisations.

The session will explore how boards must move beyond traditional oversight of financial performance to actively govern leadership succession, talent strategy, organisational culture, employee wellbeing and workforce capability. It will also examine how human capital has become one of the most significant drivers of innovation, productivity, resilience and long-term competitiveness.

The keynote program features an exceptional line-up of international thought leaders. Joining virtually from Washington D.C., the World Bank Group Global Head of Talent and Career Development Edith Umole, will deliver a keynote on ‘The Board’s Responsibility for Talent,’ highlighting why succession planning, leadership development and talent oversight should be viewed as core governance responsibilities.

University of Buckingham, United Kingdom Dean of the Faculty of Business, Humanities and Social Sciences Professor Deba Bardhan Correia, will present ‘Talent – The New Currency for Boardroom Governance,’ examining how boards can create lasting competitive advantage through strategic investment in people.

From India, Ma Foi Strategic Consultants and Ma Foi Education Services Managing Director and CEO Rajiv Krishnan, will discuss ‘The Board’s Talent Agenda: Leadership, Culture and Long-Term Value Creation,’ sharing practical insights into how boards can align people strategy with business performance.

Completing the keynote line-up is Boston Consulting Group (BCG), India, People Strategy Partner and Associate Director Himanshu Priyadarshi who will present ‘HR Intelligence: The New Currency of Board Sustainability and Long-Term Value Creation,’ exploring how data-driven human capital strategies are reshaping boardroom decision-making.

The panel discussion will feature leading experts from across the region, including PeopleStrong CEO for India, Middle East and South East Asia Sandeep Chaudhary; HR Cornucopia Managing Director Ahmedali N.; Hemas Holdings PLC Chief People and Corporate Affairs Officer Ravi Jayasekera; Leadership Coach and Corporate Druids Managing Director Dr. Mihirini de Zoysa, and Consultant in General and Interventional Cardiology Dr. Gotabhaya Ranasinghe, who will offer perspectives on leadership resilience, organisational wellbeing and sustainable performance.

The discussion will be moderated by Deloitte Sri Lanka and Maldives,Human Capital Consulting, Engineering AI and Data, and Growth Office Leader Mayura Malagala together with University of Buckingham, United Kingdom Lecturer in Accounting and Finance Cathrine Weerakkody, bringing together governance, leadership and organisational perspectives on one of the most critical issues facing modern boards.

The session delivers a clear message to directors: talent is capital, and culture is the operating system that enables that capital to create value. Productivity is no longer simply a management concern-it is increasingly a boardroom responsibility. Boards that actively oversee succession planning, leadership capability, workforce engagement and organisational culture will be better equipped to build resilient organisations capable of sustaining growth in an increasingly competitive global economy.

The Sri Lanka Corporate Director Summit 2026, organised by the Sri Lanka Institute of Directors (SLID) as part of its 25th Anniversary celebrations, will be held on 22 July 2026 at the Cinnamon Grand Colombo. Bringing together over 15 international thought leaders, alongside over 350 board directors, CEOs, regulators and senior executives, the Summit will provide an unparalleled platform to explore the governance challenges shaping the future of business.

Registration: SLID Members: Rs. 30,000

SSC were headed for an outright win against Kandy Customs SC in their Under23 inter-club 2-day fixture, begun at the Panadura esplanade yesterday.

Winning the toss and batting first SSC were dismissed for 261 with contributions of 58 off 68 balls (7 fours, 1 six) from Rivith Jayasuriya and 44 and 49 from Nadeesha Akash and Nethsara Yasmitha respectively. Tenusha Nimsara, the left-arm spinner from Richmond College, Galle took 6/108 off 25 overs. In reply, Kandy Customs SC were shot out for 69 by former Isipathana College left-arm spinner Dinuka Wanniarachchi who sliced through their batting taking 5/16 with the help of off-spinner Malsha Fernando (3/34) and seamer Kanishka Rangana (2/17).

Kurunegala YCC batted themselves into a strong position by posting a daunting total of 341 against Nugegoda SWC at the Welagedara Stadium. Centuries by Hirusha Piumal (123 off 138 balls, 15 fours, 6 sixes) and Lakvin Abeysinghe (155 off 212 balls, 17 fours, 1 six) and their partnership of 187 for the third wicket helped Kurunegala YCC to their score. Spinners Brian Hansaja (6/106) and Sandun Mendis (4/106) helped themselves to all ten wickets. Nugegoda SWC replied with 37-1 by the close. Both matches continue on their second day along with six other matches which commence today. – [ST]

The Cabinet of Ministers has approved a proposal for Sri Lanka to host the Fourth BIMSTEC Agriculture Ministerial Meeting and the accompanying Senior Officials’ Meeting on 17 and 18 March 2027.

The meetings will bring together representatives of the seven member States of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), including Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand, to discuss regional cooperation in agriculture and related sectors.

Agriculture is a key pillar of BIMSTEC cooperation due to its vital role in supporting economic development, sustainable growth, and regional food security across member countries.

The Agriculture Ministerial Meeting and Senior Officials’ Meeting are held once every two years to strengthen collaboration and address common challenges in the sector.

Sri Lanka’s hosting of the fourth meeting reflects its continued engagement in regional agricultural cooperation and efforts to enhance food security and sustainable development within the BIMSTEC region.

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) is presently investigating a number of cases involving persons alleged to have accumulated substantial wealth through unlawful means. Such investigations are necessarily complex and may take several years before criminal proceedings are concluded.

However, there is another avenue that deserves attention. During the course of its investigations, CIABOC would invariably obtain information relating to assets, bank accounts and other financial transactions. Such information could be shared with the Inland Revenue Department (IRD) to enable it to examine whether the income used to acquire those assets has been properly declared for income tax purposes.

If the IRD finds that taxable income has not been disclosed, it has independent statutory powers to raise additional assessments and recover the taxes due. In appropriate cases involving fraud, wilful default or tax evasion, the ordinary statutory time limits for raising assessments may not apply.

The tax liability of a person is separate from any criminal liability under the anti-corruption laws. Accordingly, the IRD need not necessarily await the conclusion of lengthy corruption investigations before examining whether there has been a failure to disclose taxable income.

Any action taken by the Inland Revenue Department to assess and recover taxes on undisclosed income may also support and reinforce investigations being conducted by CIABOC. While a tax assessment is not, by itself, proof of corruption, evidence of undeclared income or unexplained wealth may be relevant to both tax enforcement and anti-corruption proceedings.

The IRD should also make greater use of information already available in the public domain. A recent news report disclosed that Sri Lanka Cricket had incurred legal fees and related expenditure amounting to approximately Rs. 681 million over a three-year period. Where such substantial payments to identified recipients are disclosed, should the IRD not routinely verify whether the income received has been properly declared and the taxes due have been paid?

This is not to suggest wrongdoing by any recipient. It is simply a question of effective tax administration. Information regarding substantial payments is increasingly available through audit reports, court proceedings, parliamentary inquiries, regulatory investigations and the media. The IRD should have an effective mechanism to examine such information and cross-check it against tax returns already in its possession.

The public therefore has a legitimate question: are our revenue authorities making full use of the vast amount of financial information already available to them?

Greater coordination between CIABOC and the IRD, together with systematic use of credible publicly available information, could not only improve revenue collection but also strengthen the enforcement of the country’s laws.

One of HRP Sri Lanka’s landmark contributions to the profession was the introduction of the HRM Awards creating, for the first time, a credible international benchmark for excellence in people management. More than a competition, the Awards became a catalyst for organizational transformation, encouraging institutions to critically evaluate their people practices against internationally recognized standards and continuously raise the bar. They inspired organizations to view human capital as a strategic business asset and accelerated the adoption of global best practices, and fostered a culture of innovation, accountability, and continuous improvement.

Beyond recognizing excellence, the Awards elevated the HR profession itself, giving practitioners a platform to demonstrate their strategic contribution to organizational success. Ultimately, the greatest beneficiaries have been the people within those organizations, as stronger HR practices create better workplaces, stronger leadership, higher engagement, and more meaningful opportunities for individuals to thrive.

The HR Think Tank (HRTT)

Launched in 2019, the HR Think Tank is a joint initiative of AHRP and the Society for Human Resource Management (SHRM), the world’s largest not-for-profit human resource membership association, with close to 302,000 members across more than 165 countries. It brings senior HR professionals together to examine challenges facing the profession, develop practical solutions and strengthen HR capability, standards and policy influence in Sri Lanka. Six editions have been held, covering themes such as holistic wellbeing, post-pandemic people practices and the hybrid workforce. The sixth edition, held in 2024 under the theme ‘HR Capabilities for Business Excellence’, featured a first-of-its-kind capability study based on interviews with 20 CEOs from leading Sri Lankan organisations. The study identified the core capabilities HR professionals need in a fast-changing business environment and was compiled by a team led by the late Dr. Chandana Wijayanama.

GAIN (Growth and Inspiration Network)

Target Group: University Undergraduates and Aspiring HR Professionals

Launched in 2022/23, GAIN is one of AHRP’s signature initiatives for nurturing the next generation of HR professionals. Through the programme, AHRP certifies experienced practitioners as mentors for university undergraduates who aspire to careers in HR. Its network of 54 certified mentors has supported the career development of students and young graduates across Sri Lanka.

GLO (Growth and Leadership Outreach)

Target Group: Youth Communities

Launched in 2023, GLO is AHRP’s flagship youth community development initiative, delivered with Global Learning Labs (GLL) and leading Sri Lankan companies. Guided by the United Nations Sustainable Development Goals and global leadership methodologies, the programme prepares professionals to become certified trainers and change agents committed to community development.

To date, GLO has partnered with 11 leading companies: Brandix, Fortude, IFS, John Keells Holdings (JKH), Sysco LABS, South Asia Gateway Terminals (SAGT), Sunshine Holdings, Nations Trust Bank (NTB), Commercial Bank, HNB and Hemas Holdings. AHRP has certified five master trainers and approximately 55 trainers through the initiative, reaching more than 600 young people across Sri Lanka.

After completing the Leadership Academy, participants extend the programme’s impact by implementing sustainable community projects in their own communities.

Elevate You

Target Group: Emerging and Mid-Career HR Professionals

Launched in 2023, Elevate You is AHRP’s speed-mentoring initiative for emerging and mid-career HR professionals. Its interactive sessions connect participants with senior HR leaders who share practical insights from leading people and organisational transformation.

Six sessions have been conducted to date, strengthening knowledge sharing, capability development and the future HR leadership pipeline. Facilitators have included Rehan Anthonis, Aruni Abeysekara, Suresh Muttiah, Dr. Roland Smith, Isuru Gunasekera and Oshana Dias, who have shared their leadership and transformation experiences with participants.

Concord: AHRP’s Rebrand and Digital Transformation

In September 2025, AHRP launched its 25th-anniversary year with Concord, a landmark event at Shangri-La Colombo that marked the Association’s transition into its next chapter. AHRP unveiled a refreshed brand identity, a new website and a digital membership portal that moved member onboarding fully online. The event also featured a three-way Memorandum of Understanding between AHRP, Sentiva, an AI-native HR platform, and Altrium, a New York-headquartered generative AI consultancy with an engineering centre in Colombo. Together, these initiatives expanded member engagement, improved access to resources and strengthened AHRP’s readiness to support the profession’s adoption of AI and emerging technologies.

Bite Size Learning

Bite Size Learning is AHRP’s series of concise knowledge-sharing sessions designed to keep HR professionals current on timely issues. Introduced during the COVID-19 pandemic to help the profession adapt to new ways of working, the series has continued as an accessible complement to AHRP’s larger programmes. Sessions are led by senior professionals from Sri Lankan and global organisations and focus on practical topics relevant to contemporary HR practice.

CEO Forums

Through its CEO Forums, AHRP has created opportunities for Sri Lanka’s chief executives to engage directly with the HR profession on the people and organisational challenges shaping business.

This engagement also informed the HR capability study presented at the sixth HR Think Tank in 2024. Based on in-depth interviews with 20 CEOs from leading Sri Lankan organisations, the study identified the capabilities HR professionals need in a rapidly changing business environment. It was compiled by a team led by the late Dr. Chandana Wijayanama and reinforced AHRP’s commitment to aligning the profession with business needs.

HR Annual Connect

HR Annual Connect is AHRP’s flagship annual gathering, bringing the country’s HR community together to network, reflect on the year’s progress and celebrate the profession. The most recent edition, HR Annual Connect ’25, attracted more than 500 HR professionals, underscoring its importance to AHRP’s calendar and Sri Lanka’s wider HR community.

Human Capital Summit

In 2016, the National Human Resource Development Council selected AHRP as the professional partner for the Sri Lanka Human Capital Summit. AHRP also provided technical expertise for the second summit in 2024, held in partnership with the Board of Investment. The summits focused on identifying national talent needs and developing a blueprint for a future-ready workforce.

Key Partnerships

SHRM: AHRP’s Global Anchor

AHRP’s partnership with the Society for Human Resource Management (SHRM), the world’s largest HR membership association, has connected Sri Lankan professionals with global certification, knowledge and networks. AHRP became Sri Lanka’s first and only channel to offer the SHRM-CP and SHRM-SCP examinations locally. The partnership has since expanded into emerging areas through a structured Generative AI in HR certificate programme delivered with SHRM APAC, with further masterclasses planned.

The collaboration also gave rise to the HR Think Tank and earlier joint initiatives such as the HR Awards. Sri Lankan professionals have gained greater regional exposure through opportunities including the SHRM India Awards, a delegation to SHRM Tech26 in Mumbai and a Bite Size Learning session featuring Shaakun Khanna of SHRM India. Across certification, capability building and international representation, SHRM continues to serve as AHRP’s bridge to global HR practice.

International Coaching Federation (ICF) Colombo Chapter

AHRP’s partnership with the ICF Colombo Chapter broadens the profession’s impact by connecting coaching with an established community of HR practitioners and organisational leaders. The collaboration supports the exchange of research, case studies and best practices, while equipping HR leaders with practical, coaching-informed approaches to leadership development. Its wider objective is to embed coaching into workplace culture and extend its value across Sri Lanka’s organisational and national workforce agenda.