K. Sivagananathan Memorial Trust Awards on 5 March

The 10th Annual Awards ceremony of the K. Sivagananathan Memorial Trust and the annual oration jointly conducted by the K.Sivagananathan Memorial Trust and the Association of Professional Bankers of Sri Lanka will be held on Monday, 5 March.  This annual event will be attended by the elite of the banking and financial institutions, professionals, bankers and the other invitees.

After successfully conducting nine award ceremonies involving 450 plus cash awards since 2002, this will be the 10th oration and awards ceremony since the untimely demise of the well-respected banker.  

This year almost 40 students who have obtained the highest marks in all three languages in the Diploma in Banking and Finance examination in March and September 2011 conducted by the Institute of Bankers of Sri Lanka (IBSL), will be awarded cash prizes and certificates.

As a result of the banking examinations conducted by the Institute of Bankers of Sri Lanka which is affiliated to IFS School of Finance, UK, formerly known as the Chartered Institute of Bankers London, open to the bankers and public, tremendous enthusiasm has been shown not only by bankers but by those who aspire for a career in banking and finance. It is heartening to note that the number of high achievers in Diploma in Banking and Finance examination has been considerably increased from 29 in 2002 to 39 in 2011.

The K. Sivagananathan Memorial Trust (KSMT) is a non-profit organisation mainly dedicated to providing assistance to financially disadvantaged students pursuing higher studies in the field of banking and finance and encouraging them to excel in their examinations to achieve a higher standard to be in par with the developed countries.

The KSMT has distributed cash prizes students who excel in the banking exams and has sponsored needy students to do the entire banking examination and also sponsored gold medal to be awarded at the 15th Convocation of the Institute of Bankers of Sri Lanka held in 2010 to the Youngest Candidate below the age of 24 years who completed the CBF examination with the first attempt.  

This year a large number of highest achievers in DBF examination hail from Kadugannawa, Gampola, Neboda, Battiacaloa, Vavuniya, Jaffna, Ambalangoda, Urumpirai, Trincomalee, Wewagama, Nelundeniya, Marawila, Kopay, Valachchenai, Thuththiripitigama, Delgoda etc.  Late Mr. K Sivagananathan who agitated to open the IBSL examinations not only to bankers but also to public will be the happiest if he is living today, with the excellent results shown by the non-bankers with least amount of facilities. The KSMT also donated books on banking and Finance to IBSL Library.

The late Mr. K. Sivagananathan’s involvement with the IBSL contributed to its association with the Chartered Institute of Bankers (CIB) London, to raise the professional standards of bankers in Sri Lanka which will no doubt contribute in a big way for Bankers to run their banks and branches to keep up with globalisation of the financial sector.

This year the Oration will be delivered by Guest of Honour, Eswaran Brothers Chairman Deshyabimani D. Eassuwaren. Chief Guest of the ceremony will be former Governor of Central Bank and former Secretary to the Ministry of Finance and presently Chairman of Bartleet – Trans-Capital Deshamanya A.S Jayawardena. Association of Professional Bankers and the present General Manager of National Savings Bank President M. Hennayake Bandara and  Board of Trustees of the K Sivagananathan Memorial Trust Chairman and the Secretary General of APB Nathan Sivagananathan and Vice President, Head – Cash Management and Trade Finance – Financial Institutions Sri Lanka of Deutsche Bank Asanka Ranhotty will also address the gathering.

The KSMT has not only provided financial assistance for education in banking and finance but it has also supported other charity projects such as the distribution of books to schools in the Nawalapitiya area as well as providing supplies to the Hindu College in Ratmalana and the Missionaries of Charity, Moratuwa (an orphanage run by the Mother Theresa Sisters’ Home).  It has also provided relief assistance to those affected; by the Tsunami and re-constructed a school destroyed by the Tsunami in the Eastern Province.  

Six schools in the Southern and Eastern provinces were provided with the necessary infrastructure and equipment for their laboratories as well as libraries and sports gear. In June 2007, a pre-school was constructed in Bakmitiyawa in the Ampara District and its students were provided with books, sport items and uniforms.

The K. Sivaganananathan Memorial Trust was formed on 7 August 2002 to fulfil one of the last wishes of the late Sivagananathan which was to assist needy students pursuing careers in the field of banking and finance. Sivagananathan rose from the ranks to the level of senior Deputy General Manager of Bank of Ceylon, by sheer determination, dedication, perseverance and hard work. He became a Fellow of the Institute of Bankers (London) in 1961.  

In a letter found after his death, where he had made a request to form a trust to grant assistance to educate needy students in banking/finance. After his retirement from Bank of Ceylon, he served as CEO at Janashakthi Insurance Company PLC and thereafter, as a Consultant to the Central Bank of Sri Lanka up to the time of his untimely death.

The Board of Trustees of the K. Sivagananathan Memorial Trust consist of eminent bankers, educationists, top mercantile executives and businessmen.

Following are the Trustees, Deshamanya A.S. Jayawardena, former Governor, Central Bank of Sri Lanka, former Secretary to the Ministry of Finance and present Chairman of Bartleet Trans-Capital Ltd., Dr. NEH Sanderatne, Visiting Senior Fellow, University of Peradeniya, W.A Nalani, General Manager, Bank of Ceylon, Rohini L.Nanayakkara, former General Manager of Bank of Ceylon and present Chairperson of  LOLC Group, S.H.A.M Abeyratne, former Assistant Governor of Central Bank of Sri Lanka and present Director General, Institute of Bankers of Sri Lanka, Pius Joseph, Managing Director Joseph and Company, Dr. Arul Sivagananathan, Managing Director Hayleys Business Solutions International (Pvt) Ltd and Nathan Sivagananathan, CEO – MAS Intimates – MAS Design and Chairman of the Board of Trustees of KSMT.

Trust also hopes to launch a website www.kstrust.lk on 5 March, 2012. The web site will have articles on banking and links to various sites for students to learn the latest trends in the banking world. All these will help the students to excel in their studies and to raise the professional standard of Bankers in par with the international standards.

The Trustees have ambitious plans in the future to promote banking studies by way of conducting classes, seminars, workshops, revision classes especially in outstations and facilitating distant learning to those in rural areas, issuing books, journals, scholarships, etc. Special emphasis will be laid on students to have access to latest development taking place in the advanced countries. Last year the trust also organised an award function in the North for students who couldn’t attend the function in Colombo.