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The Commercial Bank of Ceylon entered into a partnership with Asian Institute of Technology (AIT), the Asian equivalent to the Massachusetts Institute of Technology (MIT).

The Bank said its appointment as a partner organisation of the AIT in Sri Lanka would result in the Bangkok based Institute's training programs and professional development initiatives becoming accessible to the corporate entities in this country at affordable costs.

Under a Memorandum of Understanding (MoU) signed by Commercial Bank Managing Director Amitha Gooneratne and the Dean of AIT Extension Prof. G. Singh, the Bank's Staff Development Centre and Human Resources Development Division will be responsible for organising an array of premium training programs in Sri Lanka in collaboration with expert facilitators of the AIT.

Addressing a news conference at the signing of the MoU, Commercial Bank Managing Director Amitha Gooneratne said the Bank was privileged to work in close collaboration with a premier international institute of the stature of AIT to offer tremendous opportunities for human resource development, not only within the banking industry, but also to the entire business sector in Sri Lanka.

"All courses are developed to broaden the managerial perspective and vision of our managers and transform them into changed agents. We would also make arrangements to take groups of Sri Lankan managers to AIT programs in Bangkok to provide them with training in an international learning environment," Gooneratne said.

"Our Bank's achievements in HRM/HRD were acknowledged at national level last week when Commercial Bank was adjudged the Winner of the Overall National Award for Human Resources Management at Sri Lanka's first ever HR Awards ceremony," Gooneratne said.

The Dean of AIT Extension Prof. G. Singh said: "The Asian Institute of Technology has played a vital role in promoting technological change and development in the Asia-Pacific region through higher education, training and research. Our aim is to develop highly qualified and committed professionals who will play a leading role in the sustainable development of the region and its integration into the global economy."

"The signing of the MoU with Sri Lanka's Best Bank will pave the way for joint professional seminars, workshops and training courses in the fields of general management, information technology, organisational behaviour and banking related activities," Prof. Singh said.

Commercial Bank's Deputy General Manager - Human Resources Management Jayanta Jayaratne said: "In accordance with our Bank's Human Resource Development (HRD) Policy, our Staff Development Center (SDC) has not only been playing a pivotal role in our organisational developmental process, it has also commenced offering premium training services to other banks and mercantile institutions as well. In this context, this link will enable us to bring high quality AIT expertise within easy reach of our local organisations, by way of both public and customised programs."

The training programs in Sri Lanka will be conducted at the Commercial Bank's Staff Development Centre in Colombo which has the infrastructure and the competence to cater to HRD activities of the Bank and other corporate establishments. The focus of the SDC has been to improve the quality of human resources within the Bank and to extend its services to the corporate sector in general. The first course to be conducted under the Commercial Bank-AIT partnership was a three modular interactive high premium program titled 'Strategy-making in the era of stiff competition', conducted at the Commercial Bank's Staff Development Centre from November 21 to 23.

Established in 1959, the Asian Institute of Technology is an autonomous, international postgraduate institute which promotes technological change and development in the Asia-Pacific Region through higher education, training and research. AIT Extension is responsible for all short-term training and consultancy services. AIT Extension has a highly qualified professional staff who are specialists in human resources development, curriculum planning, instructional systems design, information technology application development, languages and other specific technological areas.

Since the inception of AIT over four decades ago, Sri Lankan students have been among the recipients of the Institute's scholarships. Six hundred and ninety seven Sri Lankans have graduated with masters and doctorate degrees in varied fields and 863 Lankan professionals have received short-term training in various programs.

The Commercial Bank of Ceylon was named the 'Bank of the Year' by the prestigious financial publication 'The Banker' for the second consecutive year in 2002 and as the 'Best Bank in Sri Lanka' for the fourth consecutive year by the international financial publication 'Global Finance', a New York based monthly. The Bank recently declared an impressive post tax profit of Rs 1.103 billion for the third quarter of 2002, surpassing its 2001 financial results.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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