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| Wednesday, 3 September 2003 |
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Upgraded skills vital for Lankan banks to be globally competitive The survival of businesses in the competitive world we live in today depends largely on their capability to innovate, improve and change while adapting to current trends. The banking business is not exempted from these demands. Even though most banks have capitalised on the technological advancements, people's skills seem vital in this business as stressed by scholars and the top rungers in the banking industry. The importance of people's skills involved in providing services to customers of banks was stressed by Prof. Gunapala Nanayakkara, Director, Postgraduate Institute of Management, University of Sri Jayewardenapura. He was addressing the Annual Convocation 2003 of the Institute of Bankers of Sri Lanka (IBSL) as its chief guest last Tuesday. Eighty three graduates received their Diplomas at the Convocation and joined the fold of Associates of the Institute of Bankers (AIBs). Prof. Nanayakkara said that if local banks are to be competitive on a global scale the banking industry should undergo change and its services have to be improved. Pointing out that no local commercial bank ranks within the best 300 banks of the world, he said that there are many areas in the services that could be improved and changed. Commercial banks should not be satisfied with their profits alone but should constantly strive to improve their services and be competitive on an international scale, he said. Prof. Nanayakkara said that research units could be set up in banks which in turn could make use of the computerised information available in databases in bringing about improvement. He also said that the PIM hopes to introduce programs to educate bankers and added that an MBA in Banking and Finance will be introduced soon. Central Bank Governor, A. S. Jayawardena the guest of honour congratulated the graduates and commended the work done by IBSL in the field of banking education in almost four decades. "The institute will be forty years next year," he said and added that the agreement with the Chartered Institute of Bankers (CIB), London was a landmark in the institute's history. It was the first time that CIB London ventured out of the UK to form a partnership with another institute which was IBSL, he said. The recognition gained from the association with the CIB London will enable IBSL to become a centre for banking education in the region. The Governor, while agreeing with the views expressed by Prof. Nanayakkara also stressed the need to improve services in banks. Apart from those who received their associateships, those have passed the Certificate in Banking and Finance, the first stage of the Diploma in Banking and Finance (DBF) and the second stage which is the Advanced Certificate in Banking and Finance received their certificates at the Convocations. The Diploma in Banking and Finance was introduced in Sri Lanka after IBSL tied up with CIB London. Ms. N. G. Irugalbandara and Ms. O. P. T. Harshini received gold medals for outstanding achievements in the CBF examination while Ms. D. S. Kellapatha received a gold meal for her performance in the AIB examination. Mrs. Kumudini Kulatunga and W. D. F. Wimalaratne were awarded fellowships of the institute. In appreciation of their outstanding achievements and dedication to banking and banking education. Prof. Gunapala Nanayakkara and N. B. S. B. Balalle were awarded honorary fellowships. |
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