Category: Daily Financial Times

The Bank of Ceylon (BOC) has taken another significant step in advancing financial inclusion by introducing BOC Flex and Lanka QR payment solutions to entrepreneurs from Sri Lanka’s indigenous community in Dambana, enabling them to embrace the country’s growing digital economy while preserving their rich cultural heritage.

As the nation’s trusted banking partner, BOC continues to reaffirm its commitment to ensuring that every Sri Lankan, regardless of location or background, has access to secure, convenient, and innovative financial services. The initiative reflects the Bank’s vision of creating opportunities that empower communities and contribute to sustainable economic development.

For generations, the indigenous community of Dambana has relied on traditional livelihoods, including beekeeping, forest-based products, and handcrafted herbal items. However, limited access to modern banking services and wider markets has often restricted their economic potential.

Recognising these challenges, BOC introduced digital payment solutions that allow entrepreneurs to accept payments instantly through Lanka QR, with funds credited directly to their Bank of Ceylon accounts. This eliminates the need to handle cash, provide change, or face payment-related inconveniences, while offering customers a fast, secure, and seamless payment experience.

The initiative becomes even more meaningful as movement within forest areas has increasingly been affected by wildlife-related challenges. By enabling digital transactions, BOC helps bridge the gap between these entrepreneurs and customers, creating new opportunities for business growth, financial security, and wider market access.

The indigenous entrepreneurs recently showcased their unique products at the BOC SME Trade Fair held at Dutch Hospital, Colombo. As part of its commitment to empowering small entrepreneurs, the Bank provided them with exhibition space free of charge, enabling them to promote and market their products to a wider audience. Visitors also experienced the convenience of making purchases through Lanka QR, demonstrating how traditional craftsmanship and modern digital banking can work together to create sustainable livelihoods while preserving Sri Lanka’s unique cultural identity.

Beyond introducing a payment solution, this initiative represents BOC’s broader commitment to building an inclusive financial ecosystem where every community can participate in the nation’s digital transformation journey. By combining technology with purpose, the Bank continues to create pathways for economic empowerment, ensuring that no Sri Lankan is left behind.

Through initiatives such as these, Bank of Ceylon continues to live its promise as the ‘Bankers to the Nation,’ connecting people, empowering businesses, and driving inclusive growth across Sri Lanka, where centuries-old traditions and cutting-edge digital innovation come together to build a stronger future for generations to come.

A total of 900 Ghanaians who have registered with the Ghana High Commission in Pretoria are expected to be evacuated soon following violent anti-immigrant demonstrations in South Africa, which left one Ghanaian national dead.

While government is yet to announce the date for the evacuation, Ghana’s High Commissioner to South Africa, Benjamin Quashie, has assured that it will prioritise Ghanaian nationals to ensure they arrive safely when evacuation begins.

Commenting on the fatal shooting of Bashiru Isak, 40, in Khayelitsha, Cape Town on June 30, 2026, Mr. Quarshie indicated that the key witness in the murder has gone into hiding over fears for his life, complicating efforts to prosecute those responsible.

According to Mr. Quashie, the witness, a Zimbabwean national who had been working alongside the deceased when the incident occurred, has refused to cooperate with investigators out of fear he would be targeted if he testified.

The High Commissioner said the witness is considered crucial to establishing the circumstances surrounding the killing.

‘Fortunately, one gentleman, a Zimbabwean who was working with the deceased, was in the shop when the incident happened. We have been told that he is the person we are looking for to become a state witness in the case,’ Mr. Quashie said.

‘He has also absconded. We’ve tried reaching him, and he has told us that if he comes to testify, he knows his life will be in danger,’ he added.

Mr. Quashie disclosed that lawyers at the Ghana High Commission are in the process of securing witness protection for the man, so he can testify in court.

‘The lawyers from the High Commission are working hard with the courts in South Africa so that he can be placed under witness protection and be able to corroborate what happened on that very day,’ he stated.

The High Commissioner explained that investigations into the killing have been challenging because many Ghanaians living in Cape Town are reluctant to provide information due to fears for their safety. ‘When the murder happened, because the High Commission is in Pretoria, we quickly dispatched officers to establish the facts. We found it difficult to get information because many Ghanaians in Cape Town were afraid to come forward,’ he said.

The Government of Ghana on Wednesday, May 27, 2026, received the first batch of Ghanaian nationals evacuated from South Africa due to the recent xenophobic attacks.

The evacuees were received on arrival by the Chief of Staff, Julius Debrah, the Minister for Foreign Affairs, Samuel Okudzeto Ablakwa (MP), the Deputy Minister for Foreign Affairs, James Gyakye Quayson (MP) and senior government officials.

The Chief of Staff assured the evacuees of government’s unwavering commitment to protecting all Ghanaian nationals. He stated that government considered it prudent to ensure their safety by evacuating them due to the challenging environment they found themselves. He further reiterated government’s commitment to supporting all evacuees to facilitate their reintegration.

The Ghana Police Service has arrested Eric Afoakwa, also known as ‘Chad’, a convicted fraudster who had been on the run for six years after being sentenced to prison for multiple financial offences.

Afoakwa was convicted in absentia in 2019 by an Accra High Court, presided over by Justice Georgina Mensah Datsa. He was found guilty on five out of six counts, including money laundering, defrauding by false pretences, and forgery of official documents.

The court sentenced him to eight years imprisonment on each count, to run concurrently. He was also ordered to refund $132,660.00 to the complainant.

Following the judgment, Afoakwa went into hiding and was subsequently declared wanted by the Economic and Organised Crime Office (EOCO), which had appealed to the public for information on his whereabouts.

On July 6, 2026, acting on the directive of the Inspector General of Police, a team from the Anti-Armed Robbery Unit arrested the convict as he was preparing to leave the country. Police say Afoakwa will be handed over to EOCO to continue the enforcement of the court’s judgment.

Pan Asia Bank which is one of the largest remittance B2B providers in Sri Lanka, successfully launched its new ‘Remit Max’ product suite at a grand ceremony on 3 July 2026, at Epitom Hotel, Kurunegala, reflecting its commitment to strengthening Sri Lanka’s formal inward remittance ecosystem while delivering innovative financial solutions tailored specifically for migrant workers and their families.

The launch ceremony was attended by the Pan Asia Bank Chairman, Director/CEO, members of the Corporate Management team, senior officials representing the Sri Lanka Bureau of Foreign Employment (SLBFE), including the Additional General Manager and the Centre Manager of the Kurunegala Centre, together with owners, directors, partners and proprietors of many leading licensed Foreign Employment Agencies operating across the Kurunegala and Dambulla regions.

The highlight of the evening was the official unveiling of the ‘Remit Max’ brand identity and logo, followed by the launch of two innovative financial products developed exclusively for the migrant worker segment: the ‘Remit Max Savings Account’ and the ‘Remit Max Pre-Departure Loan Facility’. The ‘Remit Max Savings Account’ has been specially designed for Sri Lankan migrant workers and their beneficiaries, with the objective of encouraging formal inward remittances, promoting disciplined savings habits, strengthening long-term customer relationships and enhancing financial security for migrant families. The account offers a range of exclusive value-added benefits and privileges that distinguish it from conventional savings products currently available in the market.

Complementing the savings proposition, the Bank also introduced the ‘Remit Max Pre-Departure Loan Facility’, a dedicated financing solution created to support individuals preparing to seek overseas employment. The facility is designed to ease the financial burden associated with pre-departure expenses such as agency fees, documentation costs, medical examinations, visa processing charges, travel arrangements and other essential requirements that aspiring migrant workers typically encounter prior to departure.

Together, the two products have been designed after careful evaluation of the complete financial life cycle of migrant workers (from the preparation stage before overseas employment, through the remittance earning period abroad, to building long-term financial stability for themselves and their families upon their return). The solutions incorporate several unique features and benefits that are not commonly available through competing products currently offered in the banking industry, positioning ‘Remit Max’ as a distinctive and comprehensive financial proposition for Sri Lanka’s migrant worker community.

Pan Asia Bank Chief Manager – Consumer Credit Dhanushka Sapugasthanna presented the eligibility criteria, features and operational aspects of the Remit Max Pre-Departure Loan Facility, enabling participants to gain a comprehensive understanding of the products and the value they offer to migrant workers and their families. The formal presentations were followed by an engaging and interactive question-and-answer session, during which representatives of participating Foreign Employment Agencies sought clarifications relating to product features, operational procedures and customer onboarding processes. Officials representing both Pan Asia Bank and the Sri Lanka Bureau of Foreign Employment responded to the queries. Guests shared positive feedback on the ‘Remit Max’ proposition, discussed future opportunities for collaboration and commended the Bank’s initiative to develop specialised financial solutions dedicated to Sri Lanka’s migrant worker community.

Director/CEO Naleen Edirisinghe said: ‘Foreign remittances continue to remain one of Sri Lanka’s most important sources of foreign exchange earnings and have played an indispensable role in strengthening the country’s economic resilience over the years. As a truly Sri Lankan bank, we believe migrant workers deserve financial solutions that recognise their contribution and support them throughout their entire journey. ‘Remit Max’ represents a strategic evolution of our remittance business and reflects our commitment to creating a holistic ecosystem that delivers meaningful value to migrant workers and their families rather than simply facilitating transactions.’

Chairman Aravinda Perera said: ‘While Pan Asia Bank is a relatively new participant in Sri Lanka’s remittance sector, we chose to enter the market with purpose rather than speed: investing time to understand the needs of migrant workers and their families, build the right capabilities and create solutions that deliver meaningful value. Remit Max is the outcome of that journey and reflects our commitment to supporting Sri Lankan migrant workers throughout their entire financial life cycle.’

Following the keynote address, participants were presented with comprehensive product briefings conducted by the Assistant General Manager – Deposit Mobilisation and Customer Experience, Buddhika Perera who introduced the features and benefits of the Remit Max Savings Account.

”Remit Max’ enables customers not only to receive and save remittances but also to access financial assistance even before commencing overseas employment. These solutions advance financial inclusion by delivering customer-centric products that genuinely address the evolving needs of Sri Lankan communities,’ he explained.

At an MWC Shanghai roundtable on scams and fraud across China and APAC, Sri Lanka’s Digital Economy Deputy Minister Eng. Eranga Weeraratne put a specific, mechanical ask to GSMA – and a blunter admission than the room expected.

A year ago, Sri Lanka would have joined a conversation about scams and fraud as a consumer-protection story – a country worried about its own citizens being targeted. At MWC Shanghai’s roundtable on safeguarding digital trust, Deputy Minister Eranga Weeraratne arrived instead with what he called a harder, more uncomfortable vantage point. As enforcement has tightened across parts of Southeast Asia, organised scam operations have begun relocating to Sri Lanka. In the first months of this year, police removed well over a thousand foreign nationals from scam operations on Sri Lankan soil – more than the previous two years combined.

That statistic, he told the room, is the clearest evidence yet that scams are not a problem any single country can legislate its way out of. Pressure in one jurisdiction simply pushes the operation to the next one with good connectivity and, often, softer enforcement. ‘Scams are not a national problem with national solutions. They are a displacement problem,’ he added.

The Deputy Minister was specific about direction – a distinction he said is easy to miss in a regional conversation. Scam operations physically based on Sri Lankan soil are overwhelmingly targeting victims outside the country. At the same time, Sri Lankan citizens are being targeted by scam operations based abroad. Perpetrator, victim, and enforcement jurisdiction, in other words, rarely sit in the same country – which is exactly why he argued individual nations acting alone will keep losing ground, and why regional collaboration on intelligence sharing, technological support, joint capacity-building for investigators, and coordinated law-enforcement operations has to move from aspiration to infrastructure.

Over 1,000 foreign nationals removed from scam operations on Sri Lankan soil so far this year – more than the previous two years combined.

The displacement runs in two directions

The Egyptian Football Association has demanded an investigation into the officiating team after a series of controversial decisions during Egypt’s dramatic 3-2 Round of 16 defeat to Argentina at the 2026 FIFA World Cup.

Egypt’s World Cup campaign ended in the Round of 16 after they lost 3-2 to defending champions Argentina in Atlanta on Tuesday, despite leading 2-0 for the first 79 minutes of the game. The match has since sparked debate over several refereeing decisions.

The first major flashpoint came when Mostafa Zico had a goal ruled out following a VAR review, with referee Francois Letexier ruling there had been a foul on Lisandro Martinez earlier in the build-up.

Later, with the match level, Egypt appealed for a penalty after Julian Alvarez’s challenge on Mo Salah. Moments later, Egypt also claimed Alexis Mac Allister fouled Hamdi Fathy in the build-up to Enzo Fernandez’s winning goal.

Egypt argues the incidents were handled inconsistently, with the foul that led to its disallowed goal reviewed and penalised, while play continued without a VAR review before Argentina’s winning goal.

Following the match, Hany Abo Rida, president of the Egyptian Football Association, submitted a formal complaint to FIFA requesting a full investigation into the situation.

According to the federation, the complaint alleges that serious refereeing mistakes directly contributed to Egypt’s elimination from the tournament.

The Egyptian FA has also requested an investigation into referee Francois Letexier, his on-field assistants and the VAR team, and has asked FIFA to remove the officiating crew from the remainder of the tournament pending the outcome of that investigation.

In its statement, the federation praised the Egyptian players’ performance against the defending champions, describing them as ‘heroes’, while apologising to supporters for failing to hold onto their lead.

Dancehall artiste, Stonebwoy has paid tribute to musician Samini, saying he will always remain grateful for the role the award-winning artiste played in shaping his music career.

Speaking during a live TikTok session, Stonebwoy recalled how Samini discovered him while he was still in Senior High School (SHS) and promised to work with him after he completed his education.

According to the BHIM Nation president, Samini fulfilled that promise by taking him into his team after school and treating him like family.

Stonebwoy said that experience created a lifelong bond between them, which is why he continues to refer to Samini as his big brother.

The musician stated that his admiration and respect for Samini are unwavering, insisting that nothing could ever make him dislike the veteran dancehall star.

‘He took me in after I completed SHS and treated me like his younger brother. That’s why I call him my big brother. There is nothing he can do that will make me hate him,’ Stonebwoy said.

Stonebwoy began his music journey under Samini’s guidance in the mid-2000s, during which he gained valuable industry experience and developed his talent.

He later launched his own record label, BHIM Nation, and established himself as one of Ghana’s biggest music stars.

Although the two artistes have had disagreements over the years, they have since reconciled and publicly acknowledged the impact they have had on each other’s careers.

Mobile Money Fintech Ltd has announced a nationwide campaign to onboard all commercial drivers onto the MoMo merchant network, as part of efforts to push Ghana’s transport sector toward digital payments.

Chief Executive Officer (CEO) of Mobile Money Fintech Ltd. Shaibu Haruna, made the announcement during a meeting with transport operators. The company is partnering with the Digital Transport Workers Union to drive the initiative, citing the Union’s reach and organisation.

Under the new system, passengers will pay fares by scanning a GHQR code on the driver’s dashboard using the MoMo App or any app that accepts GHQR.

‘They pay the exact fare from their phone to yours. No change. No arguments. No stopping in traffic,’ Mr. Haruna said. ‘For long-haul drivers: you no longer carry large cash that makes you a target. Your money sits safely in your MoMo account.’

He said pragya and tricycle riders will also benefit from going cashless.

To encourage adoption, MobileMoney Fintech is introducing reward points for drivers who sign up and use the service consistently. The points can be redeemed for fuel vouchers and vehicle-maintenance vouchers.

‘We know changing habits is hard. So we are making it worthwhile. Keep using it every month, and you earn more points. We are rewarding consistency, not a one-day spike,’ Mr. Haruna said.

Top-performing drivers each month will also receive a vehicle upgrade package. Drivers were urged to register immediately at onboarding stations set up at the event to receive their GHQR code, sticker, and decal.

Mr. Haruna called on union leaders to champion the campaign across the country. ‘Take this message back to your members. Share it at your stations. We will work alongside you to reach every corner,’ he said.

Chief Executive of GhIPSS, Clara Arthur, said the initiative will enable ride-hailing, haulage, and pragya drivers to receive payments conveniently and securely using GHQR.

She noted GHQR connects banks, mobile money operators, and fintechs, making digital payments more inclusive, and urged drivers to embrace the campaign to serve more customers and separate business from personal finances.

The recent child abuse case that shocked Sri Lanka has generated intense discussion across television, newspapers, online news platforms, and social media. Public concern is understandable. When allegations involve powerful and respected individuals, society has a legitimate interest in demanding accountability and justice. The investigation, legal proceedings, and institutional responsibilities are matters of public importance. Yet amid the public outrage, media attention, and demands for accountability, one crucial question has received far less attention: what happens to the child after the headlines fade?

For the public, the incident may be a news story. For the child, it may become a lifelong identity imposed by the digital memory of others. From a communication and media studies perspective, the abuse itself may not be the only source of harm. The way society communicates about the abuse can create a second layer of suffering long after the original crime has ended.

The power of media frames

In his influential work Frame Analysis (1974), communication scholar Erving Goffman argued that people understand social events through interpretive ‘frames.’ These frames influence what audiences notice, how they assign meaning, and how they evaluate an issue. Media do not simply tell us what happened; they also shape how we think about it.

This idea is highly relevant when discussing child abuse cases. Public communication can frame an issue around justice, child protection, and institutional accountability. Alternatively, it can focus on sensational details, rumors, speculation, and emotionally charged commentary. Unfortunately, social media discussions often move towards the latter.

When this happens, the victim risks becoming the central object of public curiosity rather than a child in need of protection and support. The issue is not whether society should discuss abuse. Public discussion is essential for accountability. The issue is whether those discussions are conducted in ways that protect the dignity and future of the victim.

The victim’s future

Public conversations about abuse often focus on the accused, the investigation, and the court process. People pay much less attention to the child’s future life.

In ten years, most people will have forgotten this case while discussing it on social media. The news cycle will have moved on. Yet the child at the center of today’s headlines may still be living with its consequences. She may return to school, pursue higher education, seek employment, and attempt to build personal and professional relationships. Recovery requires privacy, dignity, and the opportunity to move beyond a traumatic experience.

However, the permanent and searchable nature of digital communication can make this process significantly more difficult. Even if a victim’s name remains unpublished, the community can indirectly identify them through the repeated circulation of details, screenshots, comments, and local information. Friends, neighbors, classmates, and future acquaintances may connect the information to the survivor.

Consequently, the child may be compelled to bear the weight of public exposure long after the legal proceedings have concluded. While society focuses on punishment and accountability, the survivor may continue to face unwanted attention, stigma, and emotional distress. This situation is a reality that is often overlooked in public discussions. The child may endure the consequences of the adult debate for years to come.

Secondary victimisation in the digital age

Researchers use the term ‘secondary victimisation’ to describe additional harm experienced by victims after the original abuse has occurred. This harm may result from social stigma, insensitive treatment, public exposure, or repeated retelling of traumatic experiences.

In the digital environment, secondary victimisation can occur when a survivor’s trauma becomes the subject of endless online discussion. Every repost, comment, and speculative discussion has the potential to reopen emotional wounds. The abuse may have ended, but the communication surrounding it continues.

Unlike traditional media, digital communication rarely disappears. People can share posts thousands of times, preserve screenshots indefinitely, and keep information searchable for years. The internet often remembers what society forgets. Consequently, the very technologies that enable public discussion may extend the impact of abuse.

Towards trauma-informed communication

The challenge facing contemporary society is not whether abuse should be reported. It should. The challenge is how such reporting can be conducted without causing additional harm to survivors. Public accountability remains essential in a democratic society. However, reporting and discussion must be guided by ethical responsibility.

Trauma-informed communication encourages journalists, content creators, and social media users to consider the long-term impact of their words. The goal is to inform the public while minimising harm to survivors. This means avoiding sensationalism, respecting privacy, and focusing attention on justice, prevention, and child protection rather than intimate details of a victim’s suffering.

The recent case serves as a reminder that while digital visibility can strengthen accountability, it also creates new responsibilities. Justice is not achieved merely by exposing wrongdoing. It is also achieved by protecting those who have already suffered.

For many victims, the crime is not the end of the story. Long after public attention fades, the digital traces of trauma may remain. The true measure of a society’s commitment to justice is not only how it punishes offenders, but also how it protects survivors and allows them to build a future beyond their suffering.

Smart Media The Annual Report Company has been appointed as a Global Training Partner to the IFRS Foundation for ISSB Disclosure Training.

This enables Smart Media to deliver official training using IFRS Foundation-developed content globally, through trainers who have been assessed and certified by the IFRS Foundation to deliver the program.

Smart Media is one of only 14 organisations listed by the IFRS Foundation as Global Training Partners for ISSB Disclosure Training, and is also listed as the official Jurisdictional Training Partner for Sri Lanka. Founded in Sri Lanka, Smart Media has grown into a specialist corporate reporting firm serving leading companies across multiple markets.

This appointment strengthens Smart Media’s role in supporting companies, boards, finance teams, investor relations teams, sustainability professionals, and capital market participants as they build the knowledge and practical skills required to navigate the evolving sustainability disclosure landscape.

ISSB Disclosure Training is practical and application-focused. It introduces corporate preparers and learners to the concepts and skills needed to prepare high-quality sustainability disclosures for investors and capital markets. Participants who successfully complete the training receive a co-branded IFRS Foundation certificate and are well positioned to progress to the IFRS Foundation’s FSA Level I, should they wish to do so.

Smart Media’s appointment builds on a long-standing relationship with the IFRS Foundation and a broader corporate reporting journey. The Company has been an official training partner for the IFRS Integrated Reporting Framework since 2019. Since 2009, Smart Media has also helped clients, including large and complex organisations, measure and report their greenhouse gas footprint. Since 2011, the Company has operated as a GHG-neutral company across Scopes 1 and 2, and Scope 3 where material and measurable, reducing where possible and offsetting what cannot yet be reduced.

Smart Media The Annual Report Company Executive Chairman Vijith Kannangara said: ‘This appointment is a significant milestone for Smart Media. For nearly four decades, we have helped organisations produce clearer, more connected corporate reports. As sustainability-related financial disclosures become increasingly important to investors and capital markets, we are pleased to support consistent, high-quality learning using IFRS Foundation-developed content.’

Smart Media Chief Knowledge Officer Ajit Chittambalam said: ‘The ISSB Standards are reshaping the way companies think about sustainability-related financial information. Our focus will be on demystifying the requirements and helping preparers understand their application from a reporting perspective, with training that is practical, relevant, and grounded in the realities of corporate reporting.’

Smart Media plans to collaborate with accounting bodies, stock exchanges, governance institutes, accounting firms, and sustainability consulting firms, in the respective jurisdictions in delivering ISSB Disclosure Training. As a jurisdiction- and sector-agnostic global partner in corporate reporting, the Company will bring a reporting-focused perspective to organisations seeking to understand and apply sustainability disclosure requirements.