Pan Asia Bank and CPM Sri Lanka partner to educate SMEs

From left: SLT-Mobitel Senior Manager – Packet Core Operations Pramodya Senanayaka, SME Development Committee Chairman and TDL Holdings Director/CFO Gayan Gunawardana, CPM Sri Lanka Founder and President Prof. Lakshman R. Watawala, Pan Asia Bank Director/CEO Naleen Edirisinghe, and CRIB Director/General Manager Pushpike Jayasundera

• Key initiative’s special emphasis includes importance of credit health/scores for financial sustainability with CRIB 

Pan Asia Bank Director/CEO Naleen Edirisinghe speaking at the event

SME Development Committee Chairman and TDL Holdings Director/CFO Gayan Gunawardana (left) with Pan Asia Bank Director Dharshanie Perera

Pan Asia Bank, in collaboration with the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), conducted a program to educate small and medium-sized enterprises (SMEs) on the importance of maintaining good credit health and understanding credit scores for financial sustainability. 

This initiative is part of a broader effort to empower Sri Lankan entrepreneurs/SMEs across the country, providing them with the necessary knowledge and tools to enhance their businesses.

Key discussion points included building financial literacy for SMEs, strategies for accessing and expanding business credit, and practical approaches to business planning and growth.

A key component of this development program involves familiarising SMEs with the role of the Credit Information Bureau of Sri Lanka (CRIB). The CRIB collects, collates, and disseminates credit information, enabling timely and efficient financial services. This process aids licenced banks and financial institutions in making well-informed credit decisions, thereby promoting lending and bridging the information gap between lenders and borrowers.

By understanding how the CRIB operates and the significance of maintaining a positive credit history, SMEs can better manage their financial health, leading to improved access to credit facilities. This knowledge is crucial for the growth and sustainability of SMEs, which are vital contributors to Sri Lanka’s economy.

Pan Asia Bank Director/CEO Naleen Edirisinghe said: “This workshop underscores our unwavering dedication to supporting and building SMEs with the tools to thrive in a growing economy. By enhancing financial literacy and access to capital, we are creating a pathway for sustainable development across Sri Lanka’s SME sector.”

Notable speakers included Pan Asia Bank Board Director Dharshanie Perera, Director and CEO Naleen Edirisinghe, SME Development Committee Chairman and TDL Holdings Ltd. Director/CFO Gayan Gunawardana, CPM Sri Lanka Founder and President Prof. Lakshman R. Watawala, CRIB Director/General Manager Pushpike Jayasundera, SLSME Founder and University of Sri Jayewardenepura PIM Senior Faculty Dr. Ravi Bamunusinghe, Pan Asia Bank Senior Manager – Branch Credit Dushantha Samanthilake, Sustainable Lanka Impact Investing Network Ltd. Managing Director/CEO Navindara Liyanaarachchi, Western Province Industrial Development Authority Head of Finance/Asst. Director K. Sasikaran, People’s Insurance PLC Chief Sales Officer Dennis Hewagama, Commercial Bank of Ceylon PLC Senior Manager – Business Revival and Rehabilitation Asitha Vidanagamage, Irrigation Ministry CResMPA Project Management Consultant and ICTA Sri Lanka Procurement Specialist Nandana Suriyaarachchi, and Dialog Axiata PLC Brand Manager – Fintech, Digital Services Ashen Godellawatte. 

The workshop was designed to help SMEs create a pathway to attain financially sustainable businesses through presentations, keynote speeches, and interactive discussions. The topics highlighted include credit literacy as a factor for business development, practical tips for keeping accounts, and effective planning for SMEs.

They could also attend panel discussions where participants discussed the problems and opportunities associated with credit facilities, working capital, and financial management for SMEs.