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Saturday, October 23, 2010

Lendings to top Rs 3,600 b

With US $ 4,000 per capita income in five years:

Ramani KANGARAARACHCHI

The local banking sector lendings will double to Rs 3,600 billion within five years when the country’s per capita income reaches US $ 4,000.

Central Bank Governor Ajith Nivard Cabraal said that Sri Lanka is in the threshold of a new era and has to score fast to reach new goals. The banking sector lendings are at Rs 1,800 billion today and it will be doubled when per capita income reaches US $ 4,000 in five years. It is necessary to address talents, skills, network systems, training, and capacity of banking staff to achieve the expected targets, he said.

He was speaking at the 15th Convocation of the Institute of Bankers of Sri Lanka (IBSL) at Hotel Galadari, Colombo yesterday.

He said that the banking staff need to be equipped with knowledge, capacity and technology to be able to face the challenges. The IBSL needs to develop competent people to take up new challenges in the banking sector.

Maldivian Monetary Authority Governor and Chairman Fazeel Najeeb who was the guest of honour said that the Maldivian Government is hoping to work with Sri Lanka in regional bilateral matters. He said that stability in the financial sector is very important as success of a bank depends on its balance sheet. The banking sector must focus on long-term sustainability to pave the way for the financial sector growth. Elaborating on making policies he said that any country must make policies for the interest of the public. Therefore the banking sector people must be equipped with knowledge and expertise.

The IBSL awarded 300 certificates, diplomas and gold medals to those who successfully completed the IBSL professional examination in the academic years of 2008/2009.

source - www.dailynews.lk