Pan Asia Bank, in collaboration with the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), conducted this programme to educate 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:
- Building financial literacy for SMEs
- Strategies for accessing and expanding business credit
- Practical approaches to business planning and growth
A key component of this development programme involves familiarizing 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 licensed 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 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.
Commenting on the initiative, Naleen Edirisinghe Director/CEO remarked, \"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 and figures included:
Dharshanie Perera - Board of Director, Pan Asia Banking Corporation PLC
Naleen Edirisinghe - Director/CEO of Pan Asia Banking Corporation PLC
Gayan Gunawardana - Chairman of the SME Development Committee and Director/CFO, TDL Holdings Pvt. Ltd.
Prof. Lakshman R. Watawala - Founder and President of CPM Sri Lanka
Pushpike Jayasundera - Director/General Manager, Credit Information Bureau of Sri Lanka
Dr. Ravi Bamunusinghe - Founder of SLSME and Senior Faculty, PIM, University of Sri Jayewardenepura
Dushantha Samanthilake - Senior Manager - Branch Credit, Pan Asia Banking Corporation PLC
Navindara Liyanaarachchi - Managing Director/CEO, Sustainable Lanka Impact Investing Network Pvt. Ltd.
K. Sasikaran - Head of Finance/Asst. Director, Industrial Development Authority, WP
Dennis Hewagama - Chief Sales Officer, People’s Insurance PLC
Asitha Vidanagamage - Senior Manager Business Revival & Rehabilitation, Commercial Bank of Ceylon PLC
Nandana Suriyaarachchi - Management Consultant-CresMPA, Project, Ministry of Irrigation Procurement Specialist – ICTA Sri Lanka
Ashen Godellawatte - Brand Manager - Fintech, Digital Services, Dialog Axiata PLC
The workshop was designed to help SMEs create a pathway to attain financially sustainable business 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 also could attend panel discussions where participants discussed the problems and opportunities associated with credit facilities, working capital, and financial management for SMEs.