Seylan Bank PLC entered a strategic partnership with the Central Depository Systems (Pvt) Limited (CDS), the wholly owned subsidiary of the Colombo Stock Exchange (CSE), through the signing of a Memorandum of Understanding (MoU) aimed at enhancing investment accessibility for non-resident investors.
The MoU enables prospective, non-resident individual investors with Inward Investment Accounts (IIAs) to conveniently channel their investments into Sri Lanka’s capital market. This enables investors to manage investments and repatriate returns with ease. Through their partnership, Seylan Bank aims to further strengthen its role in supporting Sri Lanka’s capital market ecosystem by offering efficient banking solutions that meet international investor needs.
The signing ceremony took place at the Colombo Stock Exchange, World Trade Center, with key representatives from both institutions in attendance. Representing Seylan Bank were Deputy General Manager – Retail Banking, Eugene Seneviratne, Chief Information Officer, Harsha Wanigatunga, Assistant General Manager – International, Dilan Wijegoonawardena, Senior Manager – International Financial Services, Nalin Nissangaratchie, and Manager – Retail Remittances, Nishantha Peiris.
CSE and CDS attendees included Chief Executive Officer – CSE, Rajeeva Bandaranaike, Chief Market Operations Officer, Chandrakanth Jayasinghe, Head of CDS, Nadeera Athukorale, and other senior representatives.
Speaking at the event, Deputy General Manager – Retail Banking, Seylan Bank, Eugene Seneviratne, stated, “Seylan Bank is proud to collaborate with CDS and CSE in streamlining investment access for non-resident investors. This initiative aligns with Seylan Bank’s commitment to digital transformation and financial inclusion, while contributing to strengthening foreign investor convenience in Sri Lanka’s capital markets.”
Commenting on the partnership, Chief Executive Officer – CSE, Rajeeva Bandaranaike, noted, “This collaboration with Seylan Bank further enhances the convenience of onboarding for investors. The ability to complete the opening of the CDS account through the CSE mobile app is an important step towards creating a more accessible and investor-friendly market environment.”
The integration between Seylan Bank and CDS marks a significant milestone in advancing Sri Lanka’s investment infrastructure by combining technological innovation with trusted banking services to foster greater participation from global investors.
Picture caption:Deputy General Manager – Retail Banking, Seylan Bank, Eugene Seneviratne and Chief Executive Officer – CSE, Rajeeva Bandaranaike sign the MoU.
