CMA signs MOU with Lankaputhra Development Bank as Accredited Practical Training Partner

Wednesday, 23 July 2014 00:00 - - {{hitsCtrl.values.hits}}

The Institute of Certified Management Accountants (CMA), the National Professional Management Accounting Institution in Sri Lanka incorporated by Act of Parliament No. 23 of 2009, signed an MOU with Lankaputhra Development Bank, a leading project lending company in Sri Lanka.

CMA has over 12,000 students and 2,000 members. CMA is a member of South Asian Federation of Accountants (SAFA) and a member of International Federation of Accountants (IFAC), which is the world body of professional accountants. Lankaputhra Development Bank is a fully-fledged Government bank opened to strengthen the local economy by supporting the entrepreneurs of the country. The bank has initiated many loan schemes to support the small and medium entrepreneur in the country such as project loans, microfinance loan scheme, special project loans. Apart from these loan schemes, the bank offers Laksaviya leasing facility and Laksahana pawning facility, Several savings schemes including Lakmuthu children’s savings. Laksetha Senior citizen’s savings, Sansaliya women’s savings account are on offer with attractive rates of interest. At present the bank has branches in Colombo, Hambantota, Polonnaruwa, Kegalle, Kandy, Wennappuwa, Batticaloa and Trincomalee. This MOU will provide CMA students an opportunity to obtain practical training in the management accounting and finance field at a recognised business organisation which will give them a foundation to progress in their career, and obtain their membership. The CMA practical experience component is an essential part of the CMA program and has been developed in accordance with the international standards of the International Federation of Accountants (IFAC), the world body for professional accountants operating to meet the growing demands of competitive organisations at both national and international levels.