Category: Daily Financial Times

The Cabinet of Ministers has approved the implementation of National Policy on Preventing Money Laundering, Countering the Financing of Terrorism, and Combating the Financing of the Proliferation of Weapons of Mass Destruction for the period 2026-2030.

‘The policy has been introduced to strengthen the country’s response to growing financial crime risks that pose serious threats to both the Sri Lankan economy and the global financial system,’ Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting media briefing yesterday.

He said the rapid technological advancements have made financial transactions increasingly complex, creating new challenges for authorities in detecting and preventing money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction.

As part of efforts to assess these evolving risks, the Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka carried out the country’s third National Risk Assessment on financial crimes during 2024-2025. The assessment was conducted in line with standards established by the Financial Action Task Force (FATF), the global intergovernmental body responsible for developing policies and standards to combat money laundering, terrorist financing and related financial crimes.

‘Based on the findings of the national risk assessment, the Government formulated the new five-year policy to address identified vulnerabilities and strengthen Sri Lanka’s anti-money laundering and counter-terrorist financing framework,’ he added.

The policy is expected to guide the country’s efforts from 2026 to 2030 by enhancing coordination among relevant institutions, strengthening preventive measures, and improving Sri Lanka’s ability to identify, mitigate and respond to financial crime risks in line with international standards.

The proposal to this effect was submitted by President Anura Kumara Dissanayake in his capacity as the Finance, Planning, and Economic Development Minister.

Sri Lanka’s electric vehicle market in 2026 is no longer a futuristic conversation. It is becoming a live economic, consumer and infrastructure discussion. After several years of vehicle import restrictions, high vehicle prices, fuel-price volatility and foreign exchange pressure, electric vehicles are now entering the market with renewed visibility. The Colombo EV Motor Show 2026, held in June, was another sign that the EV conversation has moved into the mainstream business space. The event featured more than 200 trade stalls covering electric vehicles, motor accessories, spare parts, lubricants, tyres, batteries, charging solutions and related services as per the Colombogazette.com.

However, Sri Lanka’s EV transition should not be viewed only through the excitement of new models, showrooms and exhibitions. The more important question is whether the country is developing the full ecosystem required for EV adoption: clear regulation, affordable financing, charging infrastructure, after-sales service, parts availability, battery confidence, and a realistic total cost of ownership for consumers and businesses.

Policy direction: Encouragement is visible, but clarity matters

From a regulatory point of view, Sri Lanka has started building the framework needed for EV adoption, particularly around charging infrastructure. The Public Utilities Commission of Sri Lanka states that EV charging stations fall under its regulatory purview because they involve the distribution and supply of electricity to electric vehicles. PUCSL’s role includes maintaining a register of EV charging stations, issuing a code of practice, determining end-user tariffs, issuing safety and technical standards, and collecting information for monitoring purposes. [pucsl.gov.lk]

This is an important development. If EV adoption grows without a regulated charging ecosystem, consumers could face inconsistent pricing, safety concerns, unreliable service standards and uneven charging access. PUCSL’s regulatory approach therefore provides a necessary foundation for market confidence. A further PUCSL guideline issued on 1 June 2026 states that any person selling electricity for the purpose of charging electric-propelled vehicles is required to obtain a trading licence or supply exemption, and that the guideline is intended to improve regulatory clarity, compliance and consistent implementation of EV charging infrastructure. [pucsl.gov.lk]

For vehicle imports and pricing, however, the environment remains more complex. Private-sector tax guides indicate that Sri Lanka’s vehicle import cost structure in 2026 includes several layers such as customs duty, excise-related charges, VAT, SSCL and luxury tax, although these guides should be treated as indicative and buyers should verify final figures with authorised agents or Customs professionals. This means that while EVs may benefit from policy encouragement in principle, the actual consumer decision will depend heavily on landed cost, exchange rates, taxes, warranties, financing terms and after-sales support. [lankawebsites.com], [pricemart.lk]

Financing: EV adoption will depend on monthly affordability

For many Sri Lankan consumers, the biggest barrier to EV ownership will not be interest in the technology; it will be affordability. This is where banks and finance companies have a significant role to play.

Several financial institutions have already entered the EV financing space. Commercial Bank offers ‘Green Leases’ to fund hybrid vehicles, electric vehicles, solar panels and other energy-efficient machinery or equipment, with repayment periods of up to five years and lease amounts varying based on vehicle type and registration status. Seylan Bank partnered with GS EVO Motors in 2026 to introduce a dedicated EV leasing facility, with reported repayment periods of up to seven years, fast-track approval within 24 hours and interest rates starting from 10%

A.I.R. according to the report. [combank.lk] [colombogazette.com]

Other partnerships also point to growing institutional interest. HNB partnered with Hayleys Fentons to support EV adoption through financing, insurance benefits and life coverage for customers purchasing electric vehicles through the promotion. Evolution Auto also partnered with Union Bank in 2025 to offer financing solutions, with the report stating that customers could finance up to 90% of the vehicle’s value. [ft.lk] [bizenglish…aderana.lk]

This matters because EV adoption in Sri Lanka will likely be driven by structured financing rather than outright purchases. If monthly rentals are positioned competitively against fuel savings, maintenance savings and long-term ownership benefits, EVs can appeal not only to individual buyers but also to SMEs, tourism operators, delivery companies, corporate fleets and professional service providers.

Charging infrastructure: Progress is visible, but confidence is still uneven

Charging access remains one of the most decisive factors in EV adoption. Sri Lanka has seen progress, especially in Colombo and selected urban areas, but range confidence and charging dependability remain key concerns.

ChargeNET describes itself as Sri Lanka’s first and largest EV charging network, reporting more than 300 total chargers, over 21,000 active customers, more than 170,000 transactions, and over 10 years of operation. Its product portfolio includes fast chargers, dual-port fast chargers and Level 2 home/commercial chargers, supported by IoT connectivity, app-based management, remote monitoring and software updates. [chargenet.lk]

Charging.lk lists charging locations in Colombo and nearby areas, including locations such as SML Frontier Automotive, Lanka IOC Horton Place, Colombo City Centre, Havelock City, Hayleys PLC, Keells Darley Road and selected Cargills outlets. Hayleys Mobility also states that it offers integrated EV charging solutions and a nationwide fast-charging network powered by StarCharge. [charging.lk] [hayleysmobility.com]

Still, for widespread adoption, the country needs more than a list of chargers. Consumers need reliable uptime, transparent pricing, charger compatibility, mobile-app visibility, highway fast-charging, apartment charging, workplace charging and service support when chargers fail. Without that confidence, EVs may remain attractive for urban short-distance users but less convincing for intercity users.

After-sales, parts and maintenance: The hidden factor in consumer trust

In Sri Lanka, buyers do not look only at the brand and price. They also ask: Who will repair it? Are parts available? What happens to the battery? Is the warranty meaningful? Can technicians diagnose software or high-voltage faults?

This is where after-sales credibility becomes central. Browns Hybrid Care states that it provides hybrid and electric vehicle services, including testing and diagnosis for hybrid and EV systems, rebuilding and replacing hybrid batteries, and general maintenance services. It also describes EV battery repair as involving diagnosis, feasibility assessment, repair or replacement, functionality testing and safety standards, while identifying symptoms such as reduced EV range, EV warning indicators and declining state of health. [brownsgroup.lk] [brownshybrid.com]

Hayleys Mobility states that its after-sales support includes routine maintenance, battery health checks, software updates, technical support, specialised repairs, advanced diagnostics and genuine spare parts for its represented vehicle brands. Evolution Auto has also highlighted after-sales support, operational capability and trusted partnerships with global EV manufacturers as part of its EV market positioning. [hayleysmobility.com] [ft.lk]

For the EV market to mature, after-sales must become a competitive advantage rather than an afterthought. Battery warranties, diagnostic equipment, trained technicians, software access, spare-parts pipelines and transparent maintenance costs will influence resale values and long-term buyer confidence.

Competitors and pricing: The market is widening

The Sri Lankan EV market is now forming across several segments: entry-level urban EVs, mid-range family EVs, premium smart EVs, plug-in hybrids, commercial EVs and lifestyle pickup/utility vehicles.

Browns EV has positioned itself strongly around affordability. Brown and Company announced partnerships with SAIC-GM-Wuling and Beijing Auto Works to introduce EV models such as the BAW-E7, Wuling Binguo and Wuling Cloud, with reported launch prices of Rs. 4.7 million, Rs. 8.1 million and Rs. 12.4 million respectively. Browns EV’s official site lists the BAW E6 EV starting from Rs. 4.5 million, with a 220 km NEDC range, LFP battery and a 10-year / 120,000 km battery warranty. [dailymirror.lk] [brownsev.com]

John Keells CG Auto, the authorised distributor for BYD passenger vehicles in Sri Lanka, represents one of the strongest global EV brands locally. Its listed EV and NEV range includes BYD ATTO 1, ATTO 2, ATTO 3, Dolphin, M6, Sealion 6 and Shark 6, with details such as range, seating capacity and BYD Blade Battery technology. BYD Sri Lanka announced special limited-time prices in 2025, including Dolphin Dynamic 49 at Rs. 10.7 million, ATTO 3 Advanced at Rs. 14.6 million, ATTO 3 Superior at Rs. 16.8 million, M6 Standard at Rs. 16.2 million, and Sealion 6 variants from Rs. 21.7 million. [johnkeellscgauto.com], [johnkeellscgauto.com] [newswire.lk]

Evolution Auto is targeting the premium, luxury, commercial and utility segments. Its 2026 portfolio includes AVATR 11, IM6, IM5, XPENG G6, Riddara Active, Riddara RD6, King Long Kingwin+ and KYC V7, covering SUVs, smart crossovers, sedans, electric vans and pickups. Hayleys Mobility is also an important market participant, representing brands and mobility solutions including OMODA, JAECOO, KAIYI, SRM and StarCharge charging solutions. [ft.lk] [hayleysmobility.com]

The used and reconditioned EV market is also becoming active. Marketplace listings show BYD models such as Atto 1, Atto 3, Dolphin, Sealion 6 and Shark 6 listed at different prices depending on model year, mileage, condition and location. However, consumers should be cautious when comparing listing prices, as battery condition, warranty status, service history and importer credibility can materially change the value of an EV. [riyasewana.com]

The future: Practical adoption, not just aspiration

Sri Lanka’s EV future is promising, but it is not guaranteed. EVs can support lower fuel dependency, reduced emissions, lower running costs and new business opportunities in charging, leasing, servicing and renewable-energy integration. But the transition will only work if the ecosystem develops along with the vehicles.

The next phase should focus on five priorities.

*First, EV pricing must remain realistic. If import taxes, exchange rates and financing costs push EVs into a premium-only category, mass adoption will be limited.

*Second, charging infrastructure must expand beyond Colombo and become reliable on intercity routes.

*Third, banks and finance companies should design products based on total cost of ownership, not merely asset value.

*Fourth, after-sales capability must be strengthened with trained technicians, genuine parts, battery services and transparent warranty handling.

*Finally, policy consistency is essential. Investors, importers, banks and buyers all need a stable regulatory environment to make long-term decisions.

Sri Lanka’s EV market in 2026 is therefore at an important turning point. The vehicles are arriving. The banks are responding. Charging networks are expanding. Service providers are positioning themselves. Consumers are interested.

But the market’s real success will depend on whether EV ownership becomes practical, affordable and trustworthy for everyday Sri Lankans.

If Sri Lanka gets the balance right, electric mobility can become more than a lifestyle shift. It can become part of the country’s broader economic resilience strategy – reducing fuel vulnerability, supporting green finance, creating new service industries and preparing the transport sector for the next decade.

Outgoing Swedish Ambassador to Sri Lanka Jan Thesleff said Sri Lanka is steadily rebuilding the confidence of international investors, citing improved policy stability, a highly skilled workforce and the country’s resilience as key drivers of stronger trade and investment ties with Sweden.

In an exclusive interview with the Daily FT ahead of the conclusion of his tenure, Thesleff said Swedish businesses continue to view Sri Lanka as an attractive investment destination despite recent global and domestic challenges, noting that growing policy predictability has strengthened investor confidence.

‘Capital can move anywhere in the world. If investors choose Sri Lanka, it is because they see opportunities and confidence in the country’s fundamentals,’ he said.

The Ambassador said a more stable and predictable policy environment has enabled businesses to make long-term investment decisions with greater certainty, describing it as one of Sri Lanka’s key competitive advantages.

Reflecting on the country’s recent economic recovery, Thesleff said Sri Lanka had demonstrated remarkable resilience in overcoming successive crises, including the COVID-19 pandemic, global economic disruptions, natural disasters and geopolitical tensions.

‘Sri Lanka has an inner resilience that is very impressive. Many countries would have remained on their knees after such challenges, but Sri Lanka continues to move forward,’ he said, pointing to developments such as the Colombo Port City as evidence of continued progress.

Sweden currently has around 80 companies operating in Sri Lanka, a significant presence given that only about 300 Swedish companies operate in neighbouring India. Around half of the Swedish firms in Sri Lanka are engaged in the information and communication technology (ICT) sector, reflecting confidence in the country’s skilled workforce and growing digital economy.

Thesleff also identified apparel manufacturing as a key sector attracting Swedish investment, with some companies relocating operations from elsewhere in Asia to Sri Lanka because of its skilled labour and improving business environment.

He highlighted renewable energy, healthcare, life sciences, food processing and food packaging as sectors with strong potential for expanded cooperation between the two countries.

The Ambassador described Swedish private equity firm investment of more than $1 billion in Sri Lankan technology companies, as a strong vote of confidence in the country’s business sector.

‘When investors commit that level of capital, they are expressing confidence in the professionalism, governance, talent and long-term prospects of Sri Lankan businesses,’ he said.

Thesleff also noted Sweden’s continued support for Sri Lanka’s renewable energy transition through cooperation between Swedfund and the Ceylon Electricity Board (CEB) to strengthen the national electricity grid.

He said bilateral commercial engagement would gather further momentum, with a major Swedish business delegation scheduled to visit Sri Lanka in January 2027 under the leadership of Business Sweden and participate in Sri Lanka Expo, marking Sweden’s first organised participation in the country’s flagship export exhibition.

‘There are many reasons to be optimistic,’ Thesleff said. ‘Sri Lanka has the talent, the resilience and increasingly the stable environment that investors look for. That combination creates tremendous opportunities for the future.’

The Government of Sri Lanka lost over Rs. 25 billion in potential tax revenue since 2025 due to cigarettes being taxed lower than the World Health Organisation (WHO) benchmark, Verité Research said yesterday.

The WHO recommends a minimum tax share of 75% of the retail price of cigarettes. Sri Lanka last came close to this benchmark in 2018 (74%) but has since failed to maintain it, with the tax share falling to 67% from 2025 onwards.

The tax revenue loss was over Rs. 8 billion during the first six months of 2026 alone. This is revealed in the ‘Cigarette Tax Leakage Tracker,’ a new online dashboard launched by Verité Research to monitor these fiscal losses minute-by-minute.

The dashboard can be seen on PublicFinance.LK, Sri Lanka’s premier platform for public finance insights and analysis. https://dashboards.publicfinance.lk/cigarette-tax-leakage/

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) yesterday informed the Colombo Chief Magistrate that further investigations were underway into an alleged $ 2 million bribe linked to the purchase of a fleet of 10 aircraft for SriLankan Airlines in 2013 from a European aerospace company.

No suspects appeared before court as the principal suspect in the case, former SriLankan Airlines Chief Executive Officer Kapila Chandrasena, has passed away.

Submitting a further report, CIABOC informed court that since the suspect named in the warrant was deceased, an application would be made to recall the warrant upon receipt of the official death certificate.

Former Minister Chamal Rajapaksa’s son Sharmindra Rajapaksa and Priyanga Niyomali, the wife of former SriLankan Airlines CEO Kapila Chandrasena, have also been named as suspects in the case, with red notices issued against them.

The investigation relates to allegations that a company was established in Brunei to facilitate the receipt of a bribe amounting to approximately $ 2 million, from the European Aeronautic Defence and Space Company, a European aerospace manufacturer, in connection with the aircraft transaction.

Counsel Udara Muhandiram appeared before court claiming to represent the interests of W.D. Nimal Perera, an Australian resident who is said to be the holder of the bank account into which the alleged bribe funds were remitted.

Responding to the submissions, the Chief Magistrate observed that the prosecution had not yet informed court whether Nimal Perera had been identified as a suspect in the investigation.

Counsel Harshana Matharaarachchi, appearing for suspect Priyanga Niyomali, informed court that his client was residing overseas and requested court to further consider the issuance of the red notice.

After considering submissions from both parties, the Chief Magistrate directed CIABOC to report the progress of the investigations to court on 13 October.

Outside of those directly engaged in the science, climate change has typically been spoken of in the future tense – as mitigation against risks still appears to be over the horizon. Yet after Cyclone Ditwah became our nation’s deadliest and most economically devastating weather event in living memory, it’s now clear that mitigation can no longer be our first priority.

More than 640 lives were lost, with an estimated 10% of the population impacted across every district. Sri Lanka was not alone. In 2025, the world absorbed $ 55 billion in weather-related disasters in what meteorologists dubbed a ‘year of monsters’. Simultaneously, the planet endured the sixth deadliest heatwave on record. In Asia alone, approximately one billion people live under the constant threat of extreme heat stress.

Sri Lanka’s own projections suggest that days exceeding 35°C could rise from around 20 per year to over 100 by the 2090s. Heat islands are forming across cities and industrial zones. Shifting rainfall is disrupting agriculture, threatening yields and livelihoods that ripple through supply chains and entire communities. This new reality demands a fundamental shift in how governments, enterprises, and communities respond.

Systematic shifts: Moving from reactive to proactive

Sri Lanka’s manufacturing sector has absorbed an estimated $ 2 million per month in additional fuel and energy costs since Ditwah, rather than passing them to global buyers. That approach cannot be sustained indefinitely.

Generic assumptions about climate risk no longer hold. Impacts vary sharply by geography, sector, and supply chain structure – a facility in the Western Province faces different vulnerabilities than one on the Southern coast or in the Hill Country. A formal, location-specific climate risk assessment is now a baseline requirement, not a best practice.

MAS Holdings began conducting location-specific climate risk surveys across its operations before Ditwah arrived, grounded in a straightforward recognition: climate impacts don’t show up the same way at every facility, and planning as though they do leaves gaps that events eventually find. For organisations with existing assessments, the bar has shifted. Climate change is intensifying faster than earlier models projected, and plans calibrated to older baselines will underestimate what is coming.

Adaptation cannot stop at the factory door

If workers cannot safely reach the workplace – because the road is flooded, their home destroyed, or their family in crisis – operations break down regardless of how well-prepared the facility is. The communities workers return to each night are part of the business continuity equation.

Every enterprise should be asking: How flood-prone are the areas where our workforce lives? Are their neighbourhoods resilient enough for operations to resume after an extreme weather event? At MAS, sustainability and climate adaptation are embedded into core business strategy – not as a reporting function, but integrated into how the organisation thinks about people, place, and long-term operational health. Global partners and investors are no longer asking only for emissions figures. They want to understand how organisations are responding to physical climate realities on the ground.

Government has a central role in adaptation, but waiting on public systems alone is itself a business continuity risk. Family-owned and purpose-driven enterprises, particularly those rooted in the Global South, have a structural advantage: they are not primarily governed by quarterly incentive structures, and can justify long-horizon investments through values and necessity – a combination publicly listed companies often struggle to articulate to shareholders. The old framing of profit first, then people, then planet if resources remain, no longer functions in a climate-disrupted economy.

Inclusive climate planning: Women and vulnerable groups at the centre

Climate change is not a great equaliser. It compounds existing inequalities. In Sri Lanka, women bear a disproportionate share of climate impacts while having the least say in the decisions that shape the response (UN Women Country Gender Equality Profile, 2026). The sectors most exposed – agriculture, fisheries, tea plantations, and informal labour – are also those where women make up significant parts of the workforce. Tea production alone is projected to decline 12% by 2050, and it is plantation workers, predominantly women, who will absorb the steepest consequences.

Safety is an adaptation variable. In crisis situations, women face heightened risks of gender-based violence and loss of safety in communal spaces. Infrastructure cannot be designed without accounting for who is actually safe using it. The answer is structural inclusion – women in affected communities understand what is needed, often better than external planners. When organisations in early stages of adaptation share their risk assessments, safety lessons, and community investments, they give communities the knowledge to identify what they actually need rather than receiving what organisations assume they need. That is adaptation work in its own right.

The work that remains

Generic assumptions do not protect businesses or the people working in them. Every enterprise must conduct climate risk assessments specific to their operations and geographies, then move from reactive to proactive – because knee-jerk responses after disasters cost more and deliver less than preparation put in place before the event. The first question any business should sit with is whether the world is better because of what it does, and whether the harm it causes can be reduced. That is the honest first step.

The next extreme weather event is already forming somewhere. What matters is taking the first step – whether that means reviewing your risk exposure, sitting with communities to understand what they need, or revisiting plans built for a climate that no longer exists.

The organisations that will endure are those that treat people, not just profit, as the foundation of their purpose. That is what embeds long-term resilience into strategy – not as a commitment on a slide, but as something felt in the decisions taken at every level of an organisation.

Being prepared is not the same as being safe. But it is where we must begin.

For the first time in Sri Lanka, one lucky winner will have the opportunity to own an authentic 2026 Argentina jersey personally signed by football icon Lionel Messi, an invaluable collector’s item that captures the legacy of a player celebrated by millions around the world as The GOAT.

As excitement builds around the football World Cup 2026, Ritzbury Roccoa gives fans the chance to win far more than a signed jersey. Widely expected to coincide with Lionel Messi’s final FIFA World Cup appearance, the authentic Argentina jersey represents a defining moment in football history. A rare collector’s item today, its historical significance and value are expected to grow for generations, making it a truly once-in-a-lifetime prize.

The promotion, valid until 20 August 2026, invites fans to purchase any Ritzbury Roccoa chocolate, scan the QR code or follow the instructions provided on Roccoa’s social media pages to access the competition website. Fans can enter as many times as they wish, with each Ritzbury Roccoa chocolate counting as one entry.

CBL Foods International Ltd. General Manager Marketing Niluksha Bastianz said, “Football has an incredible ability to bring people together and create unforgettable moments for fans around the world. At Ritzbury, we are always looking for meaningful ways to connect with our customers and create exciting experiences that they can cherish. As anticipation builds around the FIFA World Cup 2026, this promotion gives Sri Lankan football fans the opportunity to be part of a truly memorable experience and own a special piece of football history.”

Adding even more excitement to the campaign, Ritzbury Roccoa will also offer participants the opportunity to win an authentic Portugal jersey signed by Cristiano Ronaldo, another icon of world football. In addition, the promotion features 300 giveaway prizes, with 10 winners selected each day over a period of 30 days to receive exclusive customised jerseys, giving even more football fans the chance to take home a special memento.

Commenting on the initiative, Football Federation of Sri Lanka (FFSL) President Jaswar Umar said: “Bringing an opportunity of this calibre to Sri Lanka for the first time is a significant milestone for the local football community. Football is experiencing tremendous growth both globally and locally, and experiences such as this help bring the game even closer to fans while creating greater enthusiasm around the sport. We welcome opportunities that celebrate football in new and engaging ways, inspire the next generation of players and supporters, and contribute to the continued growth of the football community in Sri Lanka.”

With two of the world’s greatest football legends at the heart of the campaign, Ritzbury Roccoa invites consumers across the country to join the excitement, enjoy their favourite chocolate, and stand a chance to own what could become one of the most valuable and coveted pieces of football memorabilia ever offered in Sri Lanka, a once-in-a-lifetime opportunity to take home a lasting piece of football history.

The Data Privacy and Protection Summit, organised by the Daily FT and CICRA, has announced Mastercard as its Title Partner for 2026.

The partnership underscores Mastercard’s commitment to advancing conversations around data privacy, security, and trust, while reinforcing the Summit’s role as a leading platform for dialogue on data protection, compliance, and emerging regulatory frameworks.

Mastercard, a global leader in payments technology and a trusted partner in advancing Sri Lanka’s digital economy, served as the Strategic Partner for the inaugural edition of the Summit in 2025. Its elevation to Title Partner reflects a deepened commitment to supporting Sri Lankan organisations as they navigate an increasingly complex data protection and privacy landscape.

The announcement comes at a pivotal moment as the country moves towards the full enforcement of the Personal Data Protection Act (PDPA), placing data governance, compliance, and trust at the forefront of organisational priorities across sectors.

The Data Privacy and Protection Summit, Sri Lanka’s premier platform for data protection leadership, will return for its second edition on 23 July at the Oak Room, Cinnamon Grand Colombo. Bringing together data protection professionals, legal and compliance experts, technology leaders, regulators, and policymakers, the Summit is set to be the country’s foremost forum for shaping the future of privacy, security, and responsible data governance.

As organisations navigate an increasingly complex threat landscape, accelerate Artificial Intelligence (AI) adoption, and prepare for the full enforcement of Sri Lanka’s PDPA, the Summit will provide a critical platform for dialogue, knowledge sharing, and practical guidance. Through a series of expert-led discussions and deep-dive sessions, attendees will gain actionable insights and strategies to strengthen governance frameworks, manage emerging risks, and build resilient, PDPA-ready organisations.

Attendees can look forward to a carefully curated agenda that addresses the most pressing opportunities and challenges in data protection today, including:

‘Sleeping Data, Living Risks: Protecting What Your Organisation Stores in the Dark’ – This session will explore the hidden dangers of unstructured and forgotten data. As organisations accumulate vast amounts of information across cloud and on-premises environments, much of it lies dormant yet vulnerable. Experts will discuss how to discover, classify, and secure this ‘sleeping data’ before it becomes a living risk.

‘Before the Breach: Why a Data Protection Impact Assessment (DPIA) Saves You from Disaster’ – Prevention is always better than cure. This session will delve into the critical role of DPIA in identifying and mitigating privacy risks before they materialise into costly breaches. Attendees will learn how to embed DPIA into their project lifecycles to ensure compliance and build stakeholder trust.

‘Protecting Your Crown Jewels – AI is Breaking Data Security and Fixing It?’ – A deep dive into the dual-edged nature of AI in data security. This session will examine how cybercriminals are leveraging AI to launch sophisticated attacks, while simultaneously exploring how AI-driven defence mechanisms can autonomously detect, respond to, and neutralise threats to an organisation’s most critical assets.

‘Fulfilling Data Subject Requests: A Company’s Legal Obligation and Operational Challenge Under PDPA’ – With the PDPA enforcement imminent, organisations must be prepared to handle Data Subject Requests (DSRs) efficiently and within mandated timelines. This session will break down the legal requirements, operational complexities, and best practices for managing DSRs without disrupting business operations.

CICRA Group Executive Director and CEO Boshan Dayaratne expressed his profound appreciation for Mastercard’s continued trust and elevated commitment to the Summit and its mission.

‘We are incredibly proud and grateful to welcome Mastercard as our Title Partner for 2026,’ he said. ‘Their belief in CICRA and the Daily FT, and our shared vision for promoting and advocating robust data protection in Sri Lanka, is a powerful endorsement of our work. Mastercard’s decision to step up as the Title Partner is a great strength and support that will enable us to take this event to the next level, providing even greater value to all participants and stakeholders as we collectively work towards a more secure and compliant digital future for Sri Lanka.’

Mastercard Country Manager – Sri Lanka Mahesha Amarasuriya said: ‘Mastercard is delighted to deepen its association with the Data Privacy and Protection Summit as Title Partner and to collaborate with CICRA and the Daily FT in advancing Sri Lanka’s data protection agenda. In an increasingly digital world, trust is both a competitive advantage and a societal imperative, and robust data protection is fundamental to building and sustaining that trust. As Sri Lanka progresses towards the implementation of the PDPA, organisations have a unique opportunity to embed privacy, security, and accountability into their business strategies. Through this association, Mastercard remains committed to fostering informed dialogue, sharing global expertise, and supporting the development of a resilient and trusted digital ecosystem that enables businesses and citizens to thrive with confidence.’

Both Government institutions and private sector organisations have a shared responsibility in protecting citizen and customer data. With PDPA enforcement imminent, public sector data controllers and private enterprises alike must act now to avoid penalties, reputational damage, and security breaches. The Summit offers a unique opportunity to learn from global leaders, understand regulatory obligations, and build a proactive defence strategy.

Registration is now open, with limited seats available. Data protection officers, cybersecurity professionals, Government officials, legal and compliance practitioners, and business leaders are encouraged to register early. Visit www.cicrasummit.lk to register and secure your participation at this premier event or call the Summit Secretariat: 0710 600 800.

Six Tamil-speaking political parties yesterday jointly urged President Anura Kumara Dissanayake to immediately resume the constitutional reform process, hold the long-delayed Provincial Council (PC) Elections, and implement the National People’s Power (NPP)-Janatha Vimukthi Peramuna (JVP)-led Hatton Declaration by distributing abandoned plantation lands to estate workers for housing and livelihoods.

The call came as the parties formally launched a common political platform aimed at collectively voicing issues affecting Tamil-speaking communities while retaining their individual political identities.

Tamil Progressive Alliance (TPA) Leader Mano Ganesan said the initiative was not about creating another political alliance, but about working together to advance power-sharing, democratic governance, and equal rights.

‘We are here to discuss ways and means of becoming more and more Sri Lankan with substantial power-sharing and equitable sharing of resources. We urge President Anura Kumara Dissanayake to recommence the constitutional process, as he personally and officially promised. We discussed this with him and he agreed to continue from where the process had been suspended. We now urge him to do so without delay,’ Ganesan said.

Referring to the long-overdue PC Elections, Ganesan, who is a member of the Parliamentary Select Committee on electoral reforms, said they were dissatisfied with the continued postponement of the provincial polls despite repeated assurances by the Government.

He also called on the Government to resolve longstanding land disputes affecting Tamil-speaking communities, including those involving State institutions such as the military, the Mahaweli Authority, and the Department of Archaeology.

‘We urge the Government to implement the NPP-JVP’s Hatton Declaration by releasing abandoned and uncultivated plantation lands to estate workers,’ he stressed.

The newly established platform brings together the Ilankai Tamil Arasu Kachchi (ITAK), Sri Lanka Muslim Congress (SLMC), TPA, All Ceylon Makkal Congress (ACMC), Democratic Tamil National Alliance (DTNA), and the Ceylon Workers’ Congress (CWC).

Leaders of these political parties told the media briefing held in Colombo yesterday that the parties had agreed to work collectively on issues of common concern while maintaining the freedom to pursue their own political stances on different issues.

They have identified three immediate priorities: Constitutional reform with meaningful power-sharing; the conduct of PC Elections without further delay; and the resolution of land issues affecting Tamil, Muslim, and Malaiyaha Tamil communities.

ITAK General Secretary M.A. Sumanthiran, describing the initiative as a historic milestone, said that it was the first time in decades that political representatives of the Northern, Eastern, Malaiyaha Tamil, and Muslim communities had established a collective political network to voice on agreed issues pertaining to Tamil-speaking communities.

‘This is a platform where Tamil-speaking parties can raise a common voice on issues that affect us all. It is not an alliance. Each party remains free to hold its own political views, but where there is common ground, we will work together because a united voice carries greater strength,’ he said.

Stressing that there should be no further postponement of PC Elections, which had originally been promised within a year of the Government assuming office, Sumanthiran said the Government’s own election manifesto had pledged to introduce a new Constitution.

‘Historically, Tamil-speaking communities have worked together when fundamental issues affecting them arose. This platform revives that spirit of cooperation,’ he explained.

SLMC Leader Rauff Hakeem stressed that the initiative should not be viewed as a communal or anti-majority political move.

‘Our coming together should never be interpreted as an effort directed against any community. Every party represented here is fully committed to Sri Lanka’s sovereignty, territorial integrity, democracy, human rights, and the rule of law. This platform exists to discuss issues where we share common interests and to advocate collectively on behalf of the communities we represent,’ he said.

Hakeem also clarified that the new political platform was neither aligned with the Opposition nor opposed to the Government, but intended to function as an independent forum to discuss issues affecting Tamil-speaking people.

According to CWC General Secretary and MP Jeevan Thondaman, the initiative is a long-felt need of Tamil-speaking communities.

‘People have wanted to see unity among Tamil-speaking political parties for many years. This is not about political bargaining or deciding which party gains the most. It is about speaking with one voice on issues where common action can bring equitable results,’ he said, adding that all Tamil-speaking people are Sri Lankans.

Thondaman said although all communities proudly identified themselves as Sri Lankans, longstanding shortcomings relating to land rights, resource allocation, and development continued to disproportionately affect Tamil-speaking communities and required coordinated political engagement.

Coordinator of the six-party initiative and ITAK MP Shanakiyan Rasamanickam also describing the new platform as a historic moment in Sri Lanka’s political history said that after many decades, Tamil-speaking political parties had agreed to work together on matters of common concern relating to Tamil-speaking people.

The representatives reaffirmed their commitment to continued dialogue through this platform and expressed hope that a common approach on these issues would contribute to reconciliation, democratic governance, and the protection of the rights of all communities in Sri Lanka.

Alliance Finance Company PLC has broadened the use of proceeds under its Green Bond Framework, allowing up to 30% of Green Bond proceeds to be deployed towards refinancing eligible rooftop solar projects in a move aimed at improving capital deployment while maintaining compliance with international green finance standards.

In a disclosure to the Colombo Stock Exchange (CSE), the company said the amended framework retains its existing eligible investment categories of rooftop solar energy generation facilities and solar equipment vendors and suppliers, while introducing a two-year look-back period for refinancing qualifying projects.

Under the revised framework, Alliance Finance may refinance existing rooftop solar projects that were previously financed by the company, provided they were approved for financing and commissioned within two years of being earmarked for funding from Green Bond proceeds. The refinancing component is capped at 30% of total Green Bond proceeds.

The company said all refinanced projects must continue to satisfy the eligibility criteria under its Green Bond Framework and demonstrate meaningful environmental impact at the time they are allocated Green Bond funding.

Alliance Finance also said any unutilised allocation under the existing category for solar equipment vendors and suppliers may be redirected towards eligible rooftop solar financing under the amended framework, providing greater flexibility in deploying Green Bond proceeds.

The lender said the amendments were introduced to facilitate the efficient deployment of Green Bond proceeds while continuing to align with the company’s sustainability objectives and the principles underpinning its Green Bond Framework.

The revised framework has been independently reviewed by Deloitte Partners, which confirmed its alignment with the International Capital Market Association’s (ICMA) Green Bond Principles issued in June 2025. Alliance Finance said it has also obtained an external assurance report covering the amendments.

The company reaffirmed its commitment to ensuring that all Green Bond proceeds are utilised strictly in accordance with the amended framework and applicable regulatory requirements.

Alliance Finance’s Green Bond marked a milestone for Sri Lanka’s sustainable finance market when it became the country’s first Green Bond issued by a non-banking financial institution (NBFI).

Launched in February 2025, the Rs. 1 billion issuance was initially listed on the CSE before becoming the first Sri Lankan NBFI Green Bond to secure a dual listing on the Luxembourg Stock Exchange and inclusion on the Luxembourg Green Exchange.

The proceeds were initially dedicated to financing renewable energy projects, primarily rooftop solar, in line with Sri Lanka’s target of generating 70% of its electricity from renewable sources by 2030 and achieving carbon neutrality by 2050.