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CBO hosts delegation of top bankers from Sri Lanka


A delegation of top bankers from Sri Lanka visited the sultanate on February 17-18 to explore opportunities for collaboration between the banking sectors of the two countries and to further strengthen trade and investment relations.

The 15-member delegation included officials from the Central Bank of Sri Lanka as well as senior officials from the top six Sri Lankan banks namely, Bank of Ceylon, People's Bank, Hatton National Bank, Commercial Bank, Sampath Bank, and National Savings Bank.

The delegation held meetings with H E Hamood Sangour al Zadjali, the executive president of CBO and the CEOs and senior officials of Bank Sohar, bank muscat, National Bank of Oman and Bank Dhofar.

During the Oman-Sri Lanka Investment Forum, organized at the Al Bustan Palace on Monday, Ajith Nivard Cabraal, the governor of the Central Bank of Sri Lanka and head of the Sri Lankan delegation, briefed investors on the recent developments in the Lankan economy and provided updates on emerging investment opportunities in the country.

Cabraal said that the Lankan economy has experienced robust growth since the end of the conflict in 2009 as a result of the timely policies implemented by the government.

He expressed his gratitude to the CBO and Oman's banking sector for continuing to place their confidence in Sri Lanka by investing in diverse areas of its economy.

He said, "A significant investment in the Sri Lankan government securities market has in turn afforded a favourable return to Omani investors. In addition, banks have made available money market funds and credit lines to the banking sector in Sri Lanka."

Cabraal added that the business community in Oman would continue to strengthen its ties with Sri Lanka given the vast investment potential that exists by identifying new investment opportunities and partnerships.

Addressing the forum, Dr Mohamed Abdulaziz Kalmoor, CEO of Bank Sohar reiterated the banking community's continued support to Sri Lanka. He added that apart from commercial reasons, the growing political stability in the Asian nation has led to the strengthening of relations between the two countries.

Source : Muscat Daily 19.02.2013