This article is not meant to describe the history of the NSB, but to discuss the tragedy it has to face due to a misconduct of few people in the driving seat of the Bank at present. For the last two weeks all the media, especially printed media is bombarded with the news of NSB’s controversial deal of purchasing shares of The Finance Company at an inflationary rate. The ill fated deal was worth Rs.390 Million and created a much chaos among the business community, opposition political parties and especially in the Colombo Stock Exchange. Economists, Financial Analytic and politicians criticized the deal in every possible way providing all the details about the transaction so that the business community and the people that have some sort of business mind have fully updated about the situation.

But those economists and analytics have neglected the majority, which are the common people. The people who have built up the assets of the NSB by saving Cent by Cent and Rupee by Rupee. It is the NSB the bank of the little people who has inculcated the savings habit among the people. The burning questions of them not answered were

1. Will this ill fated transaction lead the Bank to bankruptcy?
2. Will this become another Pramuka Bank scenario?
3. What will happen to our money deposited at NSB?
4. Is it safe to keep our deposits there?

The NSB itself and even the Central Bank fail to answer those questions to date. The media itself unable to educate the general public about the same. The main objective of this article is to answer those burning issues.

The NSB has an asset base of over Rs. 400 Billion and a deposit base of Over Rs.411Billion, the third largest bank in term of deposit base and forth largest bank in term of asset base in Sri Lanka. NSB’s annual average deposit mobilization is over Rs.25 Billion which means it mobilized over Rs.2 Billion per month. The value of controversial deal was Rs.390 Million which is not a considerable amount when compare with the deposit base. Being a licensed specialized bank, NSB has to invest minimum of 60% of its deposits mobilized in Government Securities which carry zero risk. Another large amount grant as House & Property Loans, Pawning and Loans against deposits which again have minimum risk. The Bank invests relatively a small percentage in dealing securities which consider as invest in shares ( The NSB – TFC deal was also comes under this category). Therefore NSB received the Fitch rating of ‘AAA’(lka) for the ninth consecutive year in 2011/2012 and also was the first Sri Lankan bank to clinch the coveted ‘AAA’ rating. And last but not least your money with NSB bears the 100% Government security, the ultimate protection one could ever get.

So with the Savings giant your money is 100% secure and there is no risk of bankruptcy whatsoever. NSB recorded a pre Tax profit of Rs.8.9 Billion for the year ended 2011. The huge chaos created in the business field was due to the nature of the ill fated deal. Authorities have taken actions to reversal the transaction but the damage has done for the goodwill of the Bank. An action of very few people has tarnished the image of the NSB. When the business tycoon Harry Jayawardane tried to get the owner ship of Sampath Bank, the bank staff, general public, priests and media were get-together to chase the dirty Harry. Now it is time to help the NSB to overcome this tragedy so come forward and show your loyalty and faith to the little man’s Bank.

 1.When depositing money ensure that the deposit taking institution is authorized to accept deposits. Further, read and understand the terms and conditions relating to deposits.

The main facts to be considered:

• Annual interest rate and annual effective interest rate
• Dates of interest payment or crediting of interest to the account
• Instances where interest will not be paid
• In the case of fixed deposits, the tenure of the deposit and conditions applicable if        withdrawals are made before the maturity date
• llAdditional service charges and fees

2.When obtaining loans, read and understand the applicable terms and conditions of the loan.

The main facts to be considered:

• Monthly or annual interest payable
• Whether the interest rate is fixed or floating
• Method of calculation of such interest
• Tenure of the loan
• Number of installments
• Amount of the installment
• Dates of payment of the installments
• Terms and conditions applicable to collaterals and guarantors
• Conditions applicable if payments of installments are delayed
• Conditions applicable if loans are settled prior to the due date
• Additional service charges and fees

 3.When transacting with an authorized institution the following steps should be taken:

• Clear your doubts regarding the transaction, terms and conditions before you enter into any transaction
• Complete applications or other documentation after reading them carefully
• Do not sign any blank documents
• Safeguard the personal identification numbers and correspondence relating to accounts, etc.
• Divulge the true facts to the authorized institution
• Notify any change in your address
• Notify any fraudulent or suspicious transactions to the authorized institution
• Discuss and make every effort to resolve any issues with the authorized institution first

If your issue has not been resolved as stated above, you may contact the following:

• The Financial Ombudsman at No. 143A, Vajira Road,Colombo 5. Tel: 011 2595624 – 5 , email: forsril@sltnet.lk

• Only in the case of issues relating to loans: Credit Counselling Centre at No. 58, Sri Jayawardenapura Mawatha, Rajagiriya.

Tel: 011 2887006, email: upadeshana@gmail.com

Please note that the above are only the salient facts with regard to your financial transactions. It is important to inquire about your transactions further.

Central Bank of Sri Lanka

No. 30, Janadhipathi Mawatha, Colombo 1

Tel: – 0112477100, 0112477098, 0112477128

Fax: 0112477711

Email: banksup@cbsl.lk, web-site: www.cbsl.gov.lk

Read all our finance category articles Here. Also you may interested to read following articles on investment opportunities in Sri Lanka.

1.Invest in Fixed Deposits for Higher Returns

An article summarizing fixed deposit interest rates in Sri lankan banks.

2.Tips on investing on booming Sri Lanka economy

Guidelines for prospective investors who is looking to start a business in Sri Lanka

3.Invest in Gold in Sri Lanka

Invest you money in Gold for higher returns.

4.Get Maximum Benefit to Your NRFC Account

Comprehensive articles on benefits of NRFC accounts including housing loans, interest rates, etc

Rupee liquidity in the financial market begun to tight from the beginning of the year 2012 and the financial institutions compelled to offer higher interest rates to attract customer deposits to bridge this liquidity gap. So it’s high time that you should consider investing your hard earn money on Fixed Deposits to get maximum benefits. Now most of the banks offer decent interest rates on Fixed Deposit and you can now invest money in a fixed deposit and draw interest on a monthly basis or alternatively make investments for a period of 1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 4 years or even stretch the investment up to a period of 5 years. I will write about few banks where you can get the high return for your investment.

Comparison of Interest Rates offered to LKR Fixed Deposits

I have given the Fitch Rating each bank got, so that you can assess the risk involved in investing in the particular institution. The three State Banks offer 100% Government guarantee for your money in addition to the credit rating. Fitch Ratings Lanka is fully committed to serving you by providing the highest quality credit ratings. Credit Ratings clearly convey the default risks of various fixed income investment products offered to the public. Therefore, investors would be able to compare the risk and return offered by one investment against risks and returns of all other investment opportunities, and selects the most appropriate investments that meet the individual risk tolerances.

Higher Interest for Senior Citizens

The senior citizens of ours are to be taken care of by offering a good return for their savings as they are the most important segment of our society. So the rate of Interest paid to them is higher than the normal Interest paid on Fixed Deposit.

In this Awurudu Season all the financial institutions offer gifts and surprises bundle with more benefits to your savings. Step in to an Institution of your choice at the auspicious time for “Awurudu Ganudenu” with your loved ones and invest your money for a better tomorrow.

Sri Lanka Customs is the regulatory body for all the Imports and Exports of the country. Before going into discuss about the procedure of importing goods, Let me give you an overview about import division of Sri Lanka custom department.

Sri Lanka Customs has been introduced with an automation process which is currently been implemented deploying a more advanced version of ASICUDA World (Automated SYstem for CUstoms DAta). It will provide e-services with the support of service providers which lead to release of exports and imports more speedily thus will enable the Customs to move towards a paperless system.

The Imports Division of the Sri Lanka Customs Department consists of three separate units namely Long Room, “D” branch and Postal Appraising unit according to the functions; headed by Director (Imports and Tariff)

1. Long Room

The Long Room, being the Import Goods Declaration Processing Center for sea cargo which are subject to Customs duty and other levies, is the highest revenue collecting point in the Customs. With the implementation of ASYCUDA system the import document process was computerized and which eventually lead to minimize delays, errors and irregularities and provide efficient and effective service to the trading community.

2. Postal Appraising Unit

Documentation and delivery of all mail cargo are processed in this office. There are separate counters for Air ,Sea, Packets and Express mail. Once the POD (Post Office Document issued by the Postal Department) is submitted the parcel/packet will be examined and appraised by the Customs staff in the presence of the recipient or a nominee and Customs duty and other levies will be collected by the Postal Department.

3.  “D” Branch

The “D” branch is the secretariat of the Imports Division and plays a vital role in the Department. This is the final authority for all the classification disputes, exchange and import control violations and all the documents related to these discrepancies are referred to “D”branch for final decision. Duty waivers, concessions and exemptions are registered and provisional CUSDECS and refunds documents are processed here. Registration of Customs house agents, investigations and inquires arising on matters related to the Imports are also conducted in the “D” branch.

Responsibilities and Objectives of the Imports Divisions

• Collect correct Customs Duties and other levies such as Goods and Services Tax, national.Security Levy, Excise Duty etc on importation.
• Ascertain whether commodities are correctly classified and valued for collection of correct Customs duty and other levies and statistical purposes.
• Enforce Customs law and other related laws in the country.
• Facilitate the trade by providing effective and efficient service.
• Take suitable actions against the violators of the Customs Law and other related laws.

I hope now you have an idea about the import division of Sri lanka custom and its responsibilities and objectives.

Detailed Import Procedure:

A.  Importing your personal belongings (that you have used in another country)

Documents Required:

• Passport
• Residence Visa/Blue Card
• Unaccompanied baggage declaration must be made at airport
• Inventory (valued)

Customs Regulations:

• Customer must be present at time of Customs clearance.
• Sri Lanka Nationals & Expatriates may import household goods and personal effects duty-free provided they have been outside the country for a year or more
• Some Customs exemption granted with Residence Visa
• Shipments must arrive within three months of Customer
• Refundable Customs deposit payable on all shipments

B.  Importing of Goods

For process the Imports documents, duly filled Customs Form no: 53 (CUSDEC 1 & 11) using the official codes wherever necessary, signed by the consignee and the declarant and submitted to this office with all the required documents. A guideline to fill the CUSDEC forms is published in the Sri Lanka Customs website. Link : http://www.customs.gov.lk/guidelines.htm.

The CUSDECS should be submitted in following copies:

1. Warrant copy  2. Delivery copy  3. Statistical copy  4. Exchange copy  5. R.M.V. copy for motor vehicles  6.            Consignee’s copy  7. Excise copy (if applicable)

Following documents should be always filed along with the CUSDEC:

1. Delivery order  2. Bill of Lading  3. Invoice as per exchange involved  4. Exchange documents  5. Packing list  6.        Certificate of origin  7. Import control license (if applicable)  8. Certificate of registration and translation for used motor vehicles  9. Load port survey certificate for food items  10. S.L.S.I/Quarantine certificate. If applicable)  11.      Catalogues/literature( If necessary).

It is important to submit duly filled CUSDECS with necessary documents to avoid delays.

Pre-imports classification rulings:

As a measure of facilitation to the trade, the Imports Division gives pre import classification ruling on commodities. Importers who desire to have the HS Classification of any commodity that they intend to import, could make an application to the “D” Branch of the Imports Division and obtain such a ruling. At the time of submitting such an application, all particulars of the commodity to be imported, including relevant literature, chemical composition if applicable, the end use of the commodity, etc. will have to be provided. It would be useful if a sample also could be made available to the Customs. Once an application is in order, and had been accepted, a fee of Rs. 300/- has to be paid. Based on the details given by the Importer, the Customs would decide the HS No. applicable to that commodity. This ruling would be binding on the Customs for a period of six months form the date of the ruling.

However, if at any time after the ruling is given, the Customs becomes aware that certain information had been either withheld, or some wrong information had been given by the Importer, and opinion of the Customs had been based on that, the Customs has a right to withdraw the opinion given and change the HS classification, dependent on the new material available, and this opinion would be applicable to all the imports made on the basis of the earlier opinion given.

An opinion given could be periodically renewed by making a fresh application prior to the expiry of the 6 months period.

If at any point of time within the validity period of an opinion, the Customs Administration becomes aware that it had erred and given a wrong HS Number, it would inform the importer, giving the correct HS Number applicable without prejudice to the validity of the ruling for the applicable six months. In such instances, the new HS Number given would be applicable after the earlier ruling expires.

Forbes Magazine has published the annual list of the world’s richest people for the year 2012 recently. Mexican Telecom tycoon Carlos Slim has been named the world’s richest person for the third year in a row, while Bill Gates and Warren Buffett claimed the second and third positions respectively. Mukesh Ambani and Lakshmi Mittal are the 19^th and 21^st in the list from our neighboring country India who were also categorized as the Asia’s richest for couple of years.  As of March 2011 there were 538 known US Dollar billionaires in Asia with 271 from China and 69 from India.

Are there any Sri Lankans in World’s rich list or in Asia’s rich List?

Unfortunately we are unable to give a clear answer to that question as there were no Sri Lankans in Worlds rich list and Asia’s rich list at the moment.

Then who is the richest person in Sri Lanka?

If you have raised this question three four decades ago then surely you could get an exact answer. The famous richest person in Sri Lanka in the 19^th Century was Charles Henry De Soyza, “Soysa Mahaththaya” as most locals used to know him. A donor by native, his generosity knew no bounds and reached outside Sri Lanka too. The De Soysa Hospital for Women and hospitals in Lunawa, Marawila and Panadura. The Medical Research Institute, Prince and Princess of Wales Colleges in Moratuwa, all these were built and endowed by him. The Great Ormond Street Hospital for Children in London, Brompton Hospital, Royal Free Hospital, Victoria Chest Hospital, the Hospital for Accidents to Dock Labourers, all benefited through his generosity.

A person wealthy enough to produces Rs. One Lack at any given time during the 18^th and 19^th Century could display a white flag in front of his house, this was referred as “laksheta kodiya danawa” by locals.

The richest in the the first half of 20th century
1890′s	1900′s	1910′s	1950′s	1960′s
Jacob de Mel	A.E. de Silva Snr	Sir Ernest de Silva	Sir Ernest Fernando	Sir Cyril de Zoysa

Then in 1970’s another well-known person topped the Sri Lanka’s Rich list, Upali Wijewardena. He was a well-known businessman in Sri Lanka who established the Upali Group and even started a domestic airline named Upali Air. He was killed when his private Learjet exploded in midair on February 13, 1983. After his death it was U.N.Gunasekara, Maharajah, Sohli Captain, Anthony Page and H.K. Dharmadasa were known as the richest during 1980 – 2000 period. With the Open Economy policy introduced in the latter part of the 1970’s large number of business personals emerged as new Millionaires and Billionaires.

Lalith Kotelawala, Harry Jayawardena, David Pieris, Dhammika Perera, Mr. Abbas Akbarally, Amaleans, Mr. Hiran Cooray, Ms. Soma Edirisinghe, Ms. Otara Gunawardena, Geshan Wijeratne, Punarjeewa Karunanayaka are some of the personals who filled the rich list in Sri Lanka beginning from the new Millennium and to date.

Businessman Dhammika Perera lead the list of top 20 billionaires of Sri Lanka’s stock market in June 2011. The top 20 Billionaires also have huge wealth in terms of ownership of property here and abroad as well as investments in privately owned companies in Sri Lanka and abroad. Sri Lankan business tycoon Harry Jayawardene or Dirty Harry as most used to referred as, Ronald Perera ,Sumal Perera, the two Selvanathan brothers Ariyaseela Wickramanayake are some of the famous names not in the list.

1.    Mr KD Dhammika Perera   – The Major CSE activist & Now Chairman of Sampath Bank, 2.    Mr Sohil E Captain –     Major shareholder of JKH, 3. Mr Muzaffar Ali Yaseen   – A major Garment Exporter, 4. Mr YSHIK Silva – Chairman of Indra Traders, 5. Mr RM Nanayakkara – Owner of Green Lanka Shipping Company, 6. Mrs Lorraine EM Yaseen, 7.  Mr Anthony Page    - Chairman, Ceylon Theatres Group of Companies, 8. Mr HKJ Dharmadasa – The Son of Nawaloka Mudalali, 9.    Mr VR Page, 10. Ms L A Captain – Daughter of Sohil Captain, 11. Mr Ken Balendra – Chairman of Brandix, 12. Mrs TA Selvaratnam, 13. Dr Sena Yaddehige – Chairman of Richard Pieris Group, 14. Mr GC Wickremesinghe – Director Aitken Spence, 15. Mr JC Page, 16. Ms MM Page, 17. Mr IC Nanayakkara – Deputy Chairman of Lanka Orix Leasing Company, 18. Mr AM Weerasinghe, 19. Mrs KU Amerasinghe, 20. Mr A Devasurendra

Surprisingly, there are no politicians in any of these lists, may be because their wealth more securely kept in Swiss banks. We would like to know the politicians you think that should be included in to the Rich List of Sri Lanka.

Purpose of this new package?

The main aim of this service is to facilitate the mobile communication needs of migrant workers, enabling immediate contact with their family and friends upon arrival at the country. Also, they are able to use the same phone connection beyond their stay in the country.  This new Prepaid package is titled ‘Achaara’ . Sri Lanka Mobitel has launched this package to  recognize the important contribution made by the migrant work force of Sri Lanka in keeping with the Government’s policy of encouraging Sri lankan migrant workers.

Are you eligible to get this Mobitel free SIM/Mobile phone connection on your arrival ? 

All overseas employed citizens returning to Sri Lanka or leaving Sri Lanka are eligible to get this free mobile connection.

How you can get this free mobile phone connection ?

Sri Lankans who are employed abroad can now collect their free Mobitel SIM card, by producing their passport at any of the three Mobitel outlets located in the arrival, departure. The sales outlets are also available in the transit lounges at the Bandaranaike International Airport. If you fail to get your free mobile connection at airport, you can go to any Mobitel branch or and Mobitel authorized dealer with your passport to claim your free mobile connection.

Main Feature of  this ‘Achaara’ free mobile connection:

This Mobitel prepaid service will facilitate your communication during travel.  It also has following features.

• It is free – The SIM card/mobile connection issued free of charge.
• This prepaid SIM comes with pre-activated roaming and IDD facilities.
• It also entitles users to Rs. 50 worth of credit talk time on local calls, local SMS, local GPRS and SMS Roaming, valid for 90 days.
• Easy reloading. Once the credit bundle has been exceeded, the connection can be reloaded either from a reload centre in Sri Lanka or at any Sri Lanka Telecom Mobitel agency outlets overseas.
• Reasonable roaming rates. You can obtain roaming rates by dialling #787# while abroad.

Launch of this service – In News

The first Mobitel Aachaara prepaid SIM was presented by President Mahinda Rajapaksa, to Sajith Gunerathne, and First Lady, Shiranthi Rajapaksa presented the second Aachaara SIM to Nilanthi Karunarathne, two overseas employed Sri Lankans, at a ceremony at the Bandaranaike International Airport (BIA). Aachaara, an exclusive prepaid package recognizes the continuing and significant contribution by migrant workers abroad towards the country’s economy and development. Speaking at the launch, Lalith De Silva, Chief Executive Officer of Mobitel said, “It gives us great pleasure to recognize and reward the invaluable services that migrant workers abroad render to the country, with their valuable remittances to build the country’s foreign currency reserves,”

We hope this article will be useful piece of information to our beloved Sri lankans employed overseas. Please also do share your thoughts using the comment box and we appreciate if you share this article with your friends.

Gold has been used as a form of money throughout the history. The price of this precious metal is increasing almost every single day. Investment of Gold is the most popular as an investment on commodities. Investing on Gold usually needs some capital and knowledge of the investment market. Now Sri lankans can invest on Gold safely due to the introduction of Gold Savings by a renowned Sri lankan Bank.

Gold Savings

For  the  1st  time in the history of banking in Sri Lanka, NDB Bank allows customers to save in Gold!With  NDB Gold Savings (Raththaran Savings), you can pay in installments – either in 12, 18 or 24 months and own gold tomorrow at today’s price. All  you will have to do is purchase Gold from NDB Bank  and settle the cost in installments of your choice. At the end of the stipulated time period, you will own the Gold. No matter how much it increase over the period, you only have to pay the amount agreed upon at the beginning of the transaction. This  groundbreaking  product  will  be  available at all NDB Bank branches island-wide.

Let’s look at how you can earn money from Gold Savings. Following table shows the gold price fluctuation overview in the last five years.

* ozt= troy ounze => international unit of measuring pure gold =>31.1034768 grams

24k Gold Coin = 7.77g

I know it is a complicated table. But I want you to concentrate on the last column and first and last raws of the  table. Retrospectively, If you bought 100g of gold biscuits in 2007 it would have cost you Rs. 232,162. At the end of five years in 2011 (See the last raw of the table) value of Gold has increased and you can sell your 100g of Gold biscuit for 565,745.

What is NDB Bank and is it safe to invest in Gold savings

National Development Bank of Sri Lanka (NDBSL) was established under an act of Parliament in 1979 as a fully state-owned licensed specialized bank. The main aim of establishing NDB bank was to provide long term project financing to the private and public sectors. NDB Bank was positioned in the prestigious Business Today Top Twenty Awards ranking which recognizes the cream of Sri Lankan corporate for their exceptional performance throughout the past year. NDB has won the Prestigious National Business Excellence Award, for the second consecutive year for proving innovative solutions with ‘best in industry’ service. Fitch Ratings Lanka also reaffirmed the bank’s National long-term rating of ‘AA (lka)” reflecting the bank’s “strong financial profile in terms of its high capital base.

Few Other Innovative Products of NDB Bank

1. Interest Free Loan for Saving Account holders

New Vishmitha Saving Account at NDB bank enables depositors to get interest free loans. All of us have long term goals for which we save up. On the other hand, there are things we would like to spend on right now, to enhance our lives. Vishmitha saving accounts will make both possible by offering interest free loans.

You can open a Vishmitha saving account with an initial deposit of Rs. 2,000. This saving account has a super high interest rate of 4.5% and there is no restrictions on withdrawals. Main of feature of this account is that you are eligible to get a 75% of your saving as an interest free loan at the end of one year. The loan will be re-playable in 12 equal monthly installments.  Importantly, getting a loan would not have any impact on your full saving balance and interest.

2.Leasing with No Guarantors or Down Payments.

NDB Bank revolutionizes the leasing industry! Now, with NDB Leasing, you do not need guarantors or down payments to obtain a lease facility. What’s more, you can drive away with your vehicle on the same day.NDB Leasing offers competitive interest rates and flexible repayment plans that extend up to 6 years.

NDB leasing provides best interest in the market at a 14.25% minimum. NDB leasing deliver fast and flexible service to their leasing clients. They also get a discount on insurance at NDB.  Professionals, Entrepreneurs, Business enterprises, Corporate clients and Salaried employees are entitled to get the benefit of this innovative product.

We have prepared this article based on the published information by NDB bank. We are not affiliate with NDB.  NDB and their products name are copy righted under their name. Our main aim is to share these investment and saving opportunities; We hope it will be helpful to plan your future investments.

Hunting for some bargains? Colombo is literally a bargain hunter’s haven; they can be found everywhere, but your best bet is to go straight in to the plethora of outdoor markets dotted around. A perfect spot is the Pettah Bazaar as well as across the Fort Railway Station. The cobble-stoned streets are fringed with shops and stalls that sell everything from fabrics, clothing and shoes to electronics, books and household items at really great prices. The goods are pretty much set aside in categories. For instance, you will find mirrors and glass showcased around Prince Street, music-related items collected around Malwatte Avenue and the household goods around Keyzer Street. Most shops normally close on Sundays in Pettah, but the Main Street doubles up as an open air bazaar. Another such lively bazaar opens well on Olcott Street, close to Fort Railway Station.

If you are looking for handicrafts and collectibles, there is no better place than the Laksala Emporium. The goods here are top-notch but slightly expensive. Located at York Street, you can drop at the shop anytime between 9 am and 5 pm on weekdays and pick up lovely handcrafted lacquerware and painted wooden masks, batiks and handloom cloth.

If you want more options, you can check the shops around Cinnamon Gardens or Barefoot Gallery at Colombo 3 which has quality, charming and tasteful handicrafts, linens and handlooms at higher rates. If you’re hunting for antiques and top-quality home furnishings, check out Paradise Road, a posh boutique which doubles as a restaurant and has some branches too.

The quality of some items at street vendors and outdoor markets can be a bit a doubtful, so be sure to inspect any item closely before paying. If money isn’t an issue and you are only looking for quality, then you are better off shopping in the myriad of luxury department stores and stylish boutiques gracing Colombo. Odel is, of course, the one stop shop for everything you need. Up scale shoppers will love it here and it is by far the trendiest department store in Colombo. It is evident in their extensive collection of fashion wear to formal wear that Odel is fast becoming Sri Lanka’s premier lifestyle product destination. Locally produced clothing here is generally cheap and of excellent quality too.

Cotton Collection, House of Fashion, RomaFour and Beverly Street are some other similar excellent spots to pick up some clothes that are comfy and chic. Pre teenage clothing can be found at Kids at Kynsey Road Colombo 7 and Toys For U is a kiddie’s paradise of toys in De Mel Mawatta.

Large scale shopping can be done at Majestic City in Bambalpitiya. Most shoppers seek refuge from the heat in this spacious air-conditioned shopping mall. With a cinema at the top floor, a food court in the basement and a variety of interesting shops in between, make Majestic City a well liked shopping location.

Crescat Boulevard is another fine up market shopping mall in Colombo. The retail shops here are high-end and offer some of the best choices in the market. With its exceptional location adjacent to the contemporary Cinnamon Grand and in the heart of Colombo and one of the best places in Colombo to pick up designer brands, Crescat is an exciting place to shop.

Liberty Plaza is another mall that is worth mentioning. A multi-storied shopping complex, Liberty Plaza attracts huge crowds of ardent shoppers because of their varied range of merchandise that usually comes with an affordable price tag. From music to jewelry, Liberty Plaza is a satisfying shopping location with a small number of dining options available too.

What exactly is Yauwanabhimana?

Yauwanabhimana programme, offers individuals between 18 and 30 years access to a host of empowerment options. They have on board with them a range of reputed institutions such as Hayleys, Dialog, CIC, DIMO, Holcim, British Council, the University of Colombo and the World University Society Canada, who have come together to guide you towards your greatest future. These organizations will provide you with numerous opportunities, including internships, knowledge sharing and exposure to their operations, in order to set you apart in the eyes of employers.

What the objectives of Yauwanabhimana programme?

*To give you the opportunity to build connections with top corporations in Sri Lanka

*To inform and educate you on possible career opportunities

*To provide market connections to those of you with an entrepreneurial spirit

*To educate you on industry best practices via knowledge sharing sessions with corporate partners

*To provide you with Financial Education programmes to help you manage your financial future

*To provide you with personal development programmes to enhance your personality and social conduct

*To provide English Language training programmes to develop your future employability

What is the HNB’s role in this programme?

HNB has introduced range of products under the brand name of Yauwanabhimana, combining savings, lending and insurance to build your assets, and to fulfill your development needs by creating financial literacy.

This collection of services, specially designed with your needs in mind, will empower you with financial stability, flexibility and security.

Yauwanaabimana Facilities

Savings Account

Open a Yauwanabhimana savings account with a minimum deposit of Rs.1000/- and start savings for the future.

Personal Loans

Get a Yauwanabhimana Personal Loan, between Rs. 50,000/- and Rs.750,000 to meet any personal requirement or emergency.

Vehicle Loans

We know you need to travel for business and that’s why Yauwanabhimana vehicle loans can help you buy a vehicle with a loan between Rs.500,000/- and Rs. 7,000.000/-

Micro Finance Loans

Start your own business with a micro finance loan from Yauwanabhimana that offers loans up to Rs. 1 Million.

Education Loans

Pursue your higher education in Sri Lanka or abroad with a Yauwanabhimana education Loan.

Housing Loans

Build, buy or complete your house with a helping hand from Yauwanabhimana that offers housing loans at attractive interest rates.

Insurance Cover also available

And there’s more. In collaboration with their corporate partners, HNB has organized youth development workshops island-wide to give you English language training and exposure to a variety of industries, including mechanical engineering, telecommunication, construction and agriculture. This will refine your skill and develop your ability to be successful in a professional environment.

It’s time to achieve your potential. Become a part of the Yauwanabhimana programme, and meet your dreams head-on.

Sampath Bank – Platinum Plus

The Platinum Plus is a premium relationship package that combines exclusive banking, investments and a host of other financial privileges with the highest level of personalized service and value. It is designed to recognize and reward the relationship we share with you. A specially dedicated branch for this service is located in No.18, Cambridge Place, Colombo 07.

Eligibility Criteria

Members are required to maintain a total balance of Rs. 5 million made up of deposits in Savings/Current, Time Deposit Accounts, or US$ 50,000/- or equivalent in Foreign Currency Accounts, or combination of Foreign and Local currency to the value of Rs. 5 million.

Personalized Facilities you will get

Once you become a Platinum Plus member you could enjoy privileges such as special parking facilities and an exclusive lounge area where you could enjoy a cup of coffee rather than stand in line, while a specially appointed Personal Relationship Manager will take care of your daily banking needs. You’ll soon realize that, the Bank always extended to serve you, while you enjoy the most relaxing banking experience ever. And that’s not all you will receive some unique privileges such as

• The priority 24 hour telephone service where all your banking needs can be handled by a single contact.
• Qualify for Visa Platinum credit card and for supplementary Gold cards with all other Visa Platinum benefits.
• An ATM card with a daily withdrawal limit of Rs.80,000/=.
• Normal E Banking facilities
• A branded cheque book and a monthly statement.

Commercial Bank – Elite Banking

You live a life of constant achievement because you expect the best, both from yourself as well as those around you. Being awarded as the the Sri Lanka’s best Bank for 13 consecutive years, Commercial Bank, recognize this need and provide you with a service that gives you a best service that you can always rely on, that consistently looks after your best interests. Commercial Bank Elite, is an exclusive experience for high net worth that’s above and beyond regular banking. Their team of professionals will help you grow your wealth and provide you with unmatched privileges and offers at its own private residence at No 7 Gregory’s Road, Colombo7.

Eligibility Criteria

For you to qualify as a Commercial Bank Elite customer, you need to establish a total deposit relationship in excess of Rs.10mn in a savings and/or fixed deposit account at the Commercial Bank Elite branch.

Personalized Facilities you will get

With Commercial Bank Elite, you will be served by your own Relationship Officer who will take care of all your daily financial needs, give sound advice on your investment portfolio and keep you up to date on all banking matters. You will have easy access to a variety of investment opportunities which you can discuss at anytime with your Relationship Officer.

• Wide range of deposits and advances to suit your individual requirements
• Investments in government securities and bonds
• Investments in IPO’s and existing listed shares
• Selective overseas investments within CBSL regulations
• Financial protection through a variety of Insurance covers
• Cross currency trading

The Lifestyle You always Wanted

Commercial Bank Elite helps you enjoy your success by giving you the lifestyle you want to enjoy. They have partnered with some of the best merchants in the country to offer you many benefits and discounts. Whether it is travel and wellness or even residential property management, they have a great deal waiting for you.

Some of the privileges they offer:

• Overseas travel assistance
• Priority services at selective hospitals
• Residential property management services.
• Discounted offers for pharmacy products, flowers etc.