HNB enters into partnership with Eqwtay

Tuesday, 6 September 2022 03:01 - - {{hitsCtrl.values.hits}}

HNB Deputy General Manager – Retail and SME Banking Sanjay Wijemanne (fourth from left) exchanging the MoU with Eqwaty Chairman Saliya Weerakoon in the presence of (from left): HNB Undergraduate Trainee Nethmini Morawaggoda, Head of SME Products and Partnerships Niluka Amarasinghe, Assistant General Manager – SME K. Indravasan, Eqwtay Chief Executive Officer Ranil Dias and HNB Undergraduate Trainee Dasuni Basnayake

Initiative to offer local SMEs access to Hong Kong, Dubai and Singapore markets
Accessing equity infusion options
Assist SMEs in incorporating their companies in new markets

Marking a new benchmark in the SME sector, Sri Lanka’s leading private sector bank HNB PLC, partnered with Eqwtay (HK) Ltd. to offer local business equity funding facilities and access to new market places in Hong Kong, Dubai and Singapore.

The partnership will ensure HNB SME customers can seamlessly integrate and access new markets with the support of Eqwaty.

“Over the span of more than 30 years, HNB has played a pivotal role in encouraging entrepreneurs to expand their operations and investments in foreign nations. We are pleased to announce that this partnership will strengthen the nation’s export economy and further accelerate growth. Therefore, we encourage entrepreneurs to make use of this golden opportunity to grow their businesses,” HNB DGM Retail and SME Banking Sanjay Wijemanna said.

The partnership will give Sri Lankan SMEs the necessary support to incorporate their businesses overseas. Moreover, select SMEs will be provided with equity investments while ensuring a convenient and seamless market experience.

“We are delighted to be working with HNB, a bank with a long history of supporting SMEs in Sri Lanka. With this partnership, we hope to offer our facilities and services to grow local businesses and strengthen exporters,” Eqwtay Chairman Saliya Weerakoon said.

Additionally, businesses will receive the necessary support to obtain trade licenses from the government, receive guidance on corporate structure and transfer pricing procedures from local business experts, maintain a banking account in any of the top 12 international currencies, and assistance in obtaining credit facilities.

Furthermore, potential SMEs will be identified for equity investments and possible investment deals.

Businesses will also be supported in providing annual audits, tax returns, and advisories on obtaining zero-tax benefits. Eqwtay will provide HNB SMEs with value additions, including managing the business’s ‘virtual office’.

Eqwtay (HK) is a well-known private limited company registered and primarily functions as an investment consulting firm that invests in equity and an export promoter that links companies with buyers that operate in Hong Kong.