Discussing different approaches to improve financial inclusion in Sri Lanka

The funding will be used to expand lending to small and medium-sized enterprises, with over a third dedicated to businesses owned by women.

The bond is the first Green Bond issued via Symbiotics’ sponsored bond issuance platform under its Sustainability, Social and Green Bond Framework which was certified in December 2019 by DNV GL.

Sri Lanka-based fintech Genie has partnered with Bank of Ceylon to act as the financial acquirer and digitize payments through its mobile wallet solution. 

The unprecedented crisis triggered by the coronavirus pandemic has severely dented Sri Lanka’s economy, causing a steep fall in the earnings from tourism, remittances and outflow of foreign investment, the nation’s central bank has said.

IFC will support developing more specially-designed products and services for women, as part of a move to help boost access to finance for women.

Sri Lanka’s HNB has reported a smooth transition to contactless remittance transactions parallel to rising demand for digital remittances and cardless withdrawals during the coronavirus lockdown.

The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.

Digital payment software and solutions firm ACI Worldwide will be working with Sri Lanka’s National Savings Bank to implement a new solution for mitigating fraud.

Analysis of the microinsurance sector with data from 2013 to 2015