Continuous professional development is of paramount importance to present-day bankers

The President of Association of Professional Bankers – Sri Lanka speaks about the annual convention of APB to be held at BMICH on 10 and 11 December. 

Following are excerpts:

Q: Can you briefly speak about the history of APB and its annual conventions?

The Association of Professional Bankers was formed in 1988 by a few pioneering, forward thinking bankers. Since the inception, the Association of Professional Bankers has grown from strength to strength and today stands out as the most represented organisation of banking professionals in the country. The APB, as it is popularly known, continues to function as a forum that brings together thought leaders in the industry and facilitate intellectual discussions on contemporary topics for the benefit of its members. In its endeavour to meet the founding objectives, the APB conducts an annual event calendar consisting of many programs and publications. 

Providing continuous professional development to members by organising evening public lectures by eminent personalities on latest industry trends, regulations, management practices and self-development topics have become a very popular feature amongst bankers. APB’s e-journal carry thought-provoking articles contributed by the membership while our regular newspaper page in the Daily FT remains an important channel to reach out to the public at large. The annual members evening, quiz competitions and artistic talent shows are some of the events which offer networking opportunities that goes on to build lasting relationships within the banking community. 

The flagship event of the Association is the annual convention. The annual convention covers a timely theme to the industry and historically, our conventions have seen eminent foreign and local resource persons sharing their knowledge with the local banking community. Publication of an anniversary volume to coincide with the annual convention is a regular feature. This publication contains research articles contributed by eminent writers and professionals and invariably become a valuable and much sought-after source of information to practicing bankers and students.

Q: What is the theme of this year’s annual convention and its relevance and importance to the industry of Banking and Finance?

This year’s convention theme is ‘Regional Congruence: Harmonizing Policy & Economic Prosperity’. Congruence means in general; harmony, compatibility, consistency, conformity, balance, consensus, unanimity and also congruence is the mathematical concept of absolute equality. Policy congruence in individual countries within a region will facilitate economic prosperity.

We chose this theme as countries and economies no longer work in isolation. Regional economies are interestingly intertwined. Economies are dynamic. The individual economies within the region move in their own cycles. If these economies move against each other the resultant effect is destructive. However if the economies can move in harmony they will complement each other, build on each other, thrive together with resounding success. And the fruits of working harmoniously could be enjoyed by the whole region. The resultant prosperity brought about by the harmonised regional economies will always be greater than the total of the isolated economies within the region. Also, policy is the rein that governs the motion of the economy. Harmonised and consistent policy propositions enable harmonised economies. Embracing balanced and aligned policies that facilitate the transformation and integration with the region would make way for the economic prosperity. 

Bankers and financial services professionals would like to discover their role in achieving this regional congruence. APB – Sri Lanka will deliberate on this aspect at its Anniversary Convention this year. 

It must not be forgotten that the United States, having co-sponsored the Resolution against Sri Lanka, subsequently relinquished its membership of the Human Rights Council. In doing so, its representatives characterised the Council as “a cess pool” riddled with hypocrisy, double standards and self-serving motivations. The U.S. has now withdrawn from the Council, but Resolutions 30/1 and 34/1 still remain valid and binding, and Sri Lanka has to abide by the consequences. Tragically, co-sponsorship of these Resolutions by the Government of Sri Lanka itself effectively silenced a considerable swath of the globe which, until then

Q: What are key features and highlights of this year’s convention?

 In every convention we invite an eminent personage from the industry, who has made a significant contribution and has achieved international recognition, to deliver the keynote address. This year, in keeping with the convention theme, we have invited Bruno Carrasco, Director – Public Management, Financial Sector and Trade Division of the South Asia Department, Asian Development Bank to make the keynote address. Governor of the Central Bank of Sri Lanka, Dr. Indrajit Coomaraswamy will be the Chief Guest and he will share his thoughts by addressing the gathering.

The APB will also be publishing the customary ‘Anniversary Volume’ containing contributions from eminent professionals. Copies of this publication will be presented to distinguished invitees at the Inaugural Session of the Convention and to all participants attending the Technical Sessions next day. In addition, copies of same will be delivered to all banks, financial institutions, libraries of educational entities related to banking and finance and to all universities in the country. We have observed that the articles in the past volumes have been of immense value to practicing bankers and other professionals in the banking and finance sector and also to those who keenly follow the developments in banking and finance. This is a unique publication in Sri Lanka in the Banking and Finance field, presented annually which contains valuable research material.

Another significant event during the inaugural sessions is the presentation of the award for a banker who has made a significant contribution to the profession. This is an annual award and regarded as one of the most prestigious decorations, awarded to a banker.

This year we have aligned the convention sessions in an exciting manner that will keep the participants alert and the participants will be receiving a special entrance gift which will be very valuable for their personal wellbeing.

Q: What is the structure of this year’s convention and how have you lined up the program?

 We have been fortunate to attract some very prominent speakers, panellists and moderators for the convention. The first day will be the inauguration where the keynote speech will be delivered and the Governor of the Central Bank will also address the gathering. 

Technical sessions will be held next day. There will four technical sessions followed by a panel discussion. The first presentation will be themed ‘Economies in Harmony’ where the presenter will show benefits if the economies can move in harmony and how they will complement each other, build on each other to achieve success. The second topic will be Aligning Policies for Progress where two presentations will be made on what policies makes a country successful and what is the banker’s role in this. The third topic will be on Building the Conducive Climate for Entrepreneurship to thrive under which two presentations will be made elaborating how a local entrepreneurs can venture out and expand into the region and on attracting regional FDI into the country. The fourth session will see two presentations made on preparing people for digital transformation. The finale of the Convention will be titled the ‘View from the Top’, where a panel of Industry leaders will further elaborate on topics discussed during the keynote speech and the technical sessions, and will address the concerns and opportunities presented as to how the banks should reshape their internal processes and business to face the new regional trends.

Q: What is the expected audience and what benefits and value additions could the participants expect by attending the convention?

The APB annual convention is open to the public. We expect the participation of senior bankers in this event. As experienced in the previous years we expect the participation to exceed 450 registrants. The expected audience will consist of practicing senior bankers in the country along with their Chief Executive Officers, officers of the Central Bank of Sri Lanka, officers from development banks, specialised banks, finance and leasing companies and insurance companies. There will also be some foreign participants from South Asia.  

Q: As the President of APB what is the message you have for your members and other bankers?

Today, traditional banking has ceased to exist anywhere around the world. Every bank, be it a domestic bank in a tiny country or an internationally present global bank has to evolve to face threats from other industries as cheaper technology has lifted most entry barriers to some traditional banking business lines such as money transfers and foreign exchange. 

We may be working in Sri Lanka, but as practicing banking professionals, we need to be abreast of the fast changing economic, technological and regulatory environments. This is not only to do business with banks of other countries but also to safeguard interests of the institutions that we work for. No matter at what capacity we work, we need to develop a visionary focus which will enable us to predict emerging changes and envisioning solutions. Therefore, continuous professional development is of paramount importance to present-day bankers. 

Q: Can you mention the venue and the dates of the convention?

 The venue is BMICH, Main Conference Hall. The dates are 10 and 11 December. The first day will be the inauguration starting at 6 p.m., where the keynote speech will be delivered and the Governor of the Central Bank will address the gathering. Technical sessions will be held on 11 December.