Banking

Furthering its efforts to revive distinctive local industries of Sri Lanka, NDB recently initiated a special development programme aimed at rebuilding the defunct handloom textile industry. The pilot project of a long term development programme was launched in the Kuleegama village, Divulapititya of the Gampaha District which has once been renowned for its handloom products.

NDB joined hands with the Department of Textile Industry and the Divisional Secretariat of Divulapitiya to support the skilled weavers in the village who have been away from the industry since 2002, to resume manufacturing. The initial meeting organized by NDB with the participation of representatives of the department of Textile and the Divisional Secretariat official was attended by over 30 manufacturers.

Accordingly, NDB will meet the capital expenditure for the initial set up of enterprises including purchase of weaving machines, raw material etc. and also fill working capital gaps at the latter stages of production.

The Bank together with the Department of Textiles will be committed to provide continuous guidance and training on enterprise management, marketing and distribution as well as technical skills development in order to equip the manufacturers with the necessary business and technical know-how.

The Department of Textile will also share technical advice for the weavers, enabling them to produce contemporary products that are better-suited for the modern market place. The project will be backed by the Ministry of Industry and Commerce, which has undertaken the task of creating demand for the products with buy back arrangement and by directing private sector buyers to the manufactures. Commenting on the initiative, Raj Aboobucker Vice President and Head of Retail and SME Banking of NDB stated, Reviving the waning traditional industries in the country and creating better market/ export opportunities for such entrepreneurs is a priority focus in NDB's agenda for SME development. NDB's initiative for hand loom textiles in Kuleegama and the earlier initiative for the mask industry in Ambalangoda are first steps of long-term, blown out programmes that aim to reinforce identified traditional industries.

Our view is that widening market access and reawakening interest in such products within the marketplace will help develop their export potential. We strongly believe that this can contribute vastly to the anticipated economic boom in the country.

“The hand loom industry is a unique heritage of Sri Lanka and has been deteriorating over time. We realised that the lack of financial support and technical, industrial know-how have been main causes for the downfall of the industry. Hence in collaboration with the Department of Textile, Ministry of Industry and Commerce as well as the Divisional Secretariat of Divulapitiya we hope to begin the restoration of the hand loom industry from the Kuleegama village with a vision to make it a self reliant, thriving industry in the country, while encouraging the younger generation to take up the profession by bridging gaps across the industry and academia. There is a growing demand for authenticity around the globe today and environmentally responsible products such as handloom textiles are becoming increasingly popular.”

CDB opens new branch in Nugegoda

Opting to maximize customer convenience, Citizens Development Business Finance PLC (CDB) opened their new branch in the heart of Nugegoda. The new branch is located at High Level Road Nugegoda.

Commenting at the opening of the branch, Mahesh Nanayakkara Director/CEO said, "We constantly aim to offer the best possible services and convenience to our clients. Opening this new branch will enable us to fulfill that objective. We anticipate that our competitive suite of products and attentive service will continue to be well-received by our customers with the opening of our Nugegoda branch in an accessible location,"

The chief guest at the occasion was Ariyaseela Wickramanayake, Chairman Maubima foundation while Prof J.B. Dissanayake graced the occasion as the guest of honour. A host of other invitees including Herschel Gunawardena, Chairman CDB, Mahesh Nanayakkara, MD/CEO CDB and other members of the Director Board were also present at the occasion.

Forty two Retired Officers of the Bank of Ceylon in the Ampara District were felicitated for their services in the banking field. The ceremony was organized by the Ceylon Bank Employee’s Union (CBEU), Bank of Ceylon Kalmunai Area at Nintavur Al Mazhar Girls Higher School recently. Here, CBEU, BOC branch Secretary Seneviratna Bandara handing over a memento to Retired Comrade, Kalaboosana M. L. M. Farook. District Co-ordinator CBEU, BOC Kalmunai Area M.L.M. Zahir and Akkaraipattu BOC Manager, M.I.M. Haniffa were also present. Picture by: I. L. M. Rizan, Addalaichenai Central Correspondent

Ten employees of the Bank of Ceylon Akkaraipattu branch, who have served for a long period has been transferred to other branches in the District. Their services were felicitated at a farewell held at the Akkaraipattu BOC recently. Here, the chief guest Ampara Area Manager, Priyantha Kumara presenting a gift to the out going officer Nirosa. Branch Manager M.I.M. Haniffa and Asst Manager A.B.A. Gaffoor is also in picture. Picture by: I. L. M. Rizan, Addalaichenai Central Correspondent

The Commercial Bank of Ceylon PLC, Akkaraipattu branch donated furniture’s valued at
250000.00 to Al Badur Vidyalaya, Akkaraipattu recently under the community trust fund programme. Here, Branch Manager J. M. Siddique donates the furniture to the Principal, M. M. Harees at a ceremony held at the school. Co- ordinating Secretary to the Minister of Local Government and Provincial Councils A. B. Dawood, Rtd. Principal A. S. M. Rafeek and School Development Committee, Secretary M. M. Sameem were also present. Picture by: I. L. M. Rizan, Addalaichenai Central Correspondent

NDB initiates livelihood development for Hand loom Industry

CDB opens new branch in Nugegoda