The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently entered into a landmark partnership with People’s Bank in a bid to boost entrepreneurs and small and medium enterprises (SMEs) across the country.
The Memorandum of Understanding (MoU) was exchanged by Mr. Sanjaya Bandara, President of CA Sri Lanka, and Mr. Sujeewa Rajapakse, Chairman of People’s Bank, in the presence of Mr. Lakshman Abeysekera, Chairman of the CA Sri Lanka SME Task Force, and Mr. R. Kodituwakku, Chief Executive Officer/General Manager of People’s Bank.
The partnership is part of an important national initiative launched by CA Sri Lanka’s SME Task Force to support entrepreneurs and small and medium business owners and provide better access to finance and the required mentoring, which will ultimately add value to the social and economic development of the country, as SMEs are considered the backbone of Sri Lanka’s economy.
Mr. Bandara highlighted that with Sri Lanka facing the test of time following the COVID-19 pandemic, which has also resulted in an economic crisis, the Institute has taken the responsibility in its standing as the national body of accountants to play a key role in helping the country recover from the current challenges.
The CA Sri Lanka SME Task Force has been playing a key role in strengthening small and medium sized businesses all over Sri Lanka. “Our goal is to steer these SMEs so that they become global businesses and have the necessary competencies to strengthen their position in the international market, which will contribute to the national economy and also generate new job opportunities,” he said.
A key objective of the MoU is for People’s Bank to also come on board and support the CA Sri Lanka mentoring programme initiated by the SME Task Force in an effort to further strengthen the SME sector by providing it with the required support.
CA Sri Lanka’s Council Member and alternate chair of the SME Task Force Ms. Anoji De Silva, as well as Chief Executive Officer Ms. Dulani Fernando, and People’s Bank’s Deputy General Manager Enterprise Banking Ms. V.K. Narangoda, Assistant General Manager (SME) Mr. S.N.B.M.W. Narayana and Senior Manager (Project Finance and Rehabilitation Unit) Ms. Chamari Perera were also present at the event.