Business and Economics
People’s Bank launches Aswenna loan scheme

People’s Bank has launched the Aswenna loan scheme, a unique product that is in line with the Government’s development programme to create a self sufficient nation.

The first Aswenna loans were ceremoniously handed over to the loan recipients by People’s Bank Chairman Sujeewa Rajapakse and Acting Chief Executive Officer, General Manager M.A. Boniface Silva at a ceremony organised in Dunagaha in the Gampaha District.

The loans were distributed for the purchasing of paddy fields, purchasing of seeds and raw material for agriculture, purchasing of machinery, development of underlying infrastructure and animal husbandry.

Additionally, new customers who had opened accounts for agriculture, other crops and animal husbandry were officially handed over their Aswenna savings and investment account passbooks.

Kerry Logistics forms new joint venture in Sri Lanka

Kerry Logistics Network Limited (‘Kerry Logistics’; Stock Code 0636.HK) announced a new joint venture, Kerry Logistics Lanka (Pvt) Ltd (‘Kerry Lanka’), formed with IAS Holdings (Pvt) Ltd in Sri Lanka to strengthen its international freight forwarding (‘IFF’) capabilities in South Asia.

Headquartered in Colombo, Sri Lanka, Kerry Lanka sits at the strategic crossroads of East Asia, South and South East Asia, Africa and Europe. As part of Kerry Logistics’ South Asia operation, Kerry Lanka operates an office in Colombo, as well as a bonded facility and office for export purposes at the Bandaranaike International Airport.

In 2019, 46% of the total export of Sri Lanka derived from the textiles and garments industry,

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CA Sri Lanka steps up to help Chartered Accountants navigate through COVID-19 challenges

True to its calling as a responsible professional organization, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has taken the lead to help professional accountants including Chartered Accountants navigate through the ongoing turbulent times as a result of the COVID-19 global pandemic.

In fulfilling its duty as the National Body of Professional Accountants, CA Sri Lanka has already engaged a panel of top industry specialists including Past Presidents of the Institute as well as business leaders to provide expert business, risk and financial management advisory and consultancy support free of charge for the benefit of Chartered Accountants and their organisations.

With COVID-19 impacting the country’s healthcare and economy in an unprecedented manner, the “CA Sri Lanka Challenge Accepted Member Support Program” aims to help professional accountants and businesses understand the growing need to redefine their business if they are to remain successful despite the extraordinary challenges facing them at present.

The specialised panel will advise and mentor members of CA Sri Lanka by actively assisting businesses and their teams to manage the crisis, make effective decisions and how to reduce the impact of the global pandemic and the subsequent economic crisis.

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