Amidst numerous financial challenges, small and medium enterprises (SMEs) in Sri Lanka have continued to demonstrate growth. These enterprises are fundamental to economic growth, job creation, and driving innovation.
However, despite being at the centre of the economy, SME entrepreneurs have not been given the necessary opportunity or know-how to fully embrace and adapt to the rapid expansion of digital transformation around the world. The use of technology, especially digital technology, to enhance security, ease, and efficiency of financial transactions is one of the most important assets for any business, but a noticeable gap exists in the market when it comes to integrating these technologies for SME entrepreneurs.
Thereby, to further empower these enterprises, which are critical to the growth of the country, and ensure that the National Development Bank (NDB) partnered with International Finance Corporation (IFC) to conduct a series of workshops and webinars, NDB Bank and IFC have a longstanding partnership spanning decades, with IFC assisting the Bank in realigning its strategic vision of expanding access to financial services across Sri Lanka.
The latest addition to the series was a workshop conducted on the theme "Doing Business Online," held on the 7th of June at the NDB Training Centre at the NDB Bank Head Office in Nawam Mawatha. The session, conducted by an IFC-certified trainer, saw the attendance of 50 participants from NDB Bank and Colombo Region Business Banking Customers. Additionally, the workshop was extended to 12 online programmes which covered all regions of the country and attracted over 500 participants. The workshop aimed to provide participants with necessary expertise to efficiently pursue business goals and make their day-to-day business banking transactions easier and faster with the aid of modern digital technologies.
About NDB and IFC
The IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in emerging markets. Working with private enterprises in more than 100 countries, the IFC uses capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion in investments to private companies and financial institutes in developing countries, leveraging the power of the private sector to achieve the World Bank Group’s twin goals of ending extreme poverty and boosting shared prosperity.
NDB Bank is the fourth largest listed commercial bank in Sri Lanka. The Bank emerged as the Most Awarded Corporate in Sri Lanka in 2022 for the second consecutive year, as per the annual rankings of Sri Lankan publication LMD. The Bank was adjudged as the Best Bank in Sri Lanka 2022 by Global Finance USA and Euromoney in their annual best bank awards programmes. Additionally, The Bank was named one of the "Top 50 Best Workplaces in Sri Lanka 2022" by Great Place To Work, USA. NDB is the parent company of the NDB Group comprising capital market subsidiary companies, together forming a unique banking and capital market services group. The Bank is committed to empowering the nation and its people through meaningful financial and advisory services, powered by digital banking solutions.