Banking secor play Women life promotion

Now days women lead world in every think like political, Economics, IT industries, and also cinema. We hope after the globalization world economic trend helps women become in the world. Sri lanka women plays important roles in Country economic in tourism, Germans, IT industries, politics ect.

After indoor war north east women faces many difficulties not only north east women around the country faces this problem due to war hill income earning men. (Husband, Father, Brothers,...) so Sri lanka government seeking new way to promote women life standard, this is very difficult task but government achieve dynamic target.

How is it possible?

Every one seek how to achieve this is task, Sri lankan government policies and government, non government organizational activities help to achieve this this goal.

Promote women life and Banking / Financial Sector Performance

Sri lanka Banking / Financial Sector play important role in women life, provides employments, provide financial assist, special rate loans.

Here we see what are the benefits from banks.

Name of  Institution	Account                                Name	Benefits
Commercial Bank	Anagi	A special higher interest rate A "members only" pass book with the ‘Anagi’ brand logo An attractive 'Anagi' Shopping Debit Card
Peoples Bank	Vanitha Vasana	You will also be entitled to a Credit Card at a concessionary fee Vanitha Vasana's loan facility Special offers for overseas travel from People's Travels (Pvt) Ltd.
NSB	Sthree	A gold sovereign for 40 lucky winners A cash prize of Rs. 25,000/- as a wedding gift. Free "prarthana" certificate with a face value of Rs. 100,000/- for a one baby Interest concession on pawning advances ATM / Master / Visa Shopping Card facility.

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Razik Zarook - New Chaiman BOC?

Mr. Razik Zarook, a leading lawyer in Matara and Former Chairman of the C.W.E. is to be appointed as the new Chairman of Bank of Ceylon (BOC).

Mr Gamini Wickremasinghe, who was serving as the Chairman of B.O.C., resigned from his post thus creating this vacancy. Mr Zarook is due to be appointed to the relevant post in the near future.

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Sri Lanka Islamic Banking Assets Up

Sri Lankan Islamic banking assets would reach $ 1.5 billion from the present $ 250 million in coming years, says Amana Bank Chief Executive officer Faizal Salieh. In Sri Lanka 8 % of Muslims (21.5 million people), and there is a strong demand for Islamic financial products from the Muslim population as well as from non-Muslims. 

Islamic finance total assets in Sri Lanka account for 3 % of the total financial assets

Though the local Islamic finance is still at a preliminary stage, it is developing. Local Islamic Finance industry would grow at a double digit rate over medium to long term and the growth is attributed to the increased awareness of faith based concepts and the internalization of the financial markets. Islamic finance total assets in Sri Lanka account for 3 % of the total financial assets of the country, which is very small relative to those in neighboring Bangladesh and Pakistan, while total deposits and loans of local Islamic finance accounts for 5 %. Islamic Finance could play a key role in the development of infrastructure projects and the capital markets of the post war era of Sri Lanka. Amana Bank, Sri Lanka’s only full-fledged Islamic lender, plans to double its branches by expanding in rural areas, forecasting a six-fold growth in demand.

According to Central Bank sources, Sri Lanka has currently five non-Islamic lenders who are offering Shariah-compliant services through booths. The Sukuk market has the potential to attract investors to finance projects such as roads, bridges, ports, airports and other activities in the country. Sovereign Sukuk is a means of attracting funds alternative to conventional sovereign bond. However, lack of qualified professionals in the industry, not only in Sri Lanka, but across the globe has been the major problem faced by the industry and total workforce of the local Islamic finance is estimated to be around 1,500.

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Fitch Ratings has rated Bank of Ceylon’s ‘AA(lka)’

Fitch Ratings has rated Bank of Ceylon’s proposed subordinated up to Rs. 6 billion debt issue at ‘AA(lka)’.

Fitch says the proposed debentures are rated one notch below BOC’s National Long-Term rating to reflect their subordinated status.

According to the Rating agency, the proposed debentures will have a maturity of five years, with principal repayment as a bullet payment on maturity while coupon payments will be at fixed or floating rates.

Below is the rating release issued by Fitch Ratings Lanka

Fitch Ratings-Colombo/Seoul/Singapore-20 September 2012: Fitch Ratings Lanka has assigned Bank of Ceylon’s (BOC; ‘BB-’/Stable) proposed subordinated debentures of up to LKR6bn a National Long-Term rating of ‘AA(lka)’. A full rating breakdown is provided at the end of this commentary.

BOC’s ratings reflect Fitch’s expectation of support from the government of Sri Lanka (GoSL, ‘BB-’/Stable), if required. This is based on its quasi sovereign status, high systemic importance and role as one of the main bankers to the government. BOC is the largest bank in Sri Lanka and fully owned by GoSL. The Viability ‘b+’ Rating (VR) reflects BOC’s weak capitalisation, improving profitability, increasing loan/deposit ratio and concentration in the public sector. The VR also reflects its domestic franchise being underpinned by its sovereign linkages and extensive branch network.

Any change in Sri Lanka’s sovereign ratings would likely be reflected in the ratings of BOC. An upgrade of BOC’s National Long-Term rating may also result from demonstrated preferential support for BOC. The VR may be upgraded if BOC enhances its capital buffer substantially (including a high loan loss reserve coverage); if the loan-deposit ratio is maintained at 80%-85%, supplemented by medium-term wholesale funding; and if its operating performance and asset quality remain stable. The VR may be downgraded if capital buffer weakens from continued high asset growth, or if a large asset quality downturn from domestic/external macroeconomic shocks leads to capital impairment.

The proposed debentures are rated one notch below BOC’s National Long-Term rating to reflect their subordinated status. The proposed debentures will have a maturity of five years, with principal repayment as a bullet payment on maturity while coupon payments will be at fixed or floating rates, and do not contain any deferral clauses.

The debentures are to be listed on the Colombo Stock Exchange. The issue is aimed at strengthening BOC’s Tier 2 capital base.

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Sri Lanka raise US dollars - Bond Issues

The state debt office said, Sri Lanka has sold US.121.05 million US dollars of 3 year bonds at a weighted average yield of 400 basis points above the 6-month London Interbank Offered Rate

Sri Lanka offered 60 million US dollars of bonds for sale but 121.05 million in bids were received, from foreign and local commercial banks operating in Sri Lanka the debt office said. This received two time grate in offers value.

The 6-month Libor rate was 0.67 percent today. The debt office said the last 3-year bond sale on June 2012 was at 410 basis points above Libor.

Dollar denominated bonds sold to mainly resident investors have become an important source of finance for the state.

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