Authorised Persons (AP) License & Certificate of Registration as an Off-shore Company were ceremonially handed over

Standing from left to right-
Representing CPCEC, Ms.Vindhya Weerasekera, Director Legal & Corporate Affairs, Mr.Ruwan Karunaratne, Director Finance, Mr.Dinesh Weerakkody, Chairman - CPCEC and Mr. Harsha Amarasekera PC. Chairman - Sampath Bank ,Mrs. Ayodhya Iddawela Perera ,Managing Director, Sampath Bank.

Colombo, Sri Lanka – December ,7 2023: Sampath Bank PLC, the trailblazer in banking industry of Sri Lanka proudly announced their first step in getting qualified as an Authorised Person and to be permitted to engage in offshore banking business in and from the area of authority of the Colombo Port City by receiving the Authorised Persons (AP) License from Colombo Port City Economic Commission (CPCEC) and Certificate of Registration as an Off-shore Company from Registrar General of Companies. This is the first milestone after the receipt of Monetary Board concurrence in 2022 for the issuance of a banking license to engage in business under the Colombo Port City Economic Commission Act, No 11 of 2021.

The AP License, AP Agreement and Certificate of Registration as an Off-shore Company were ceremonially handed over by Chairman - CPCEC, Mr. Dinesh Weerakkody to Mr. Harsha Amarasekera PC. Chairman - Sampath Bank PLC in the presence of Bank’s Managing Director, Mrs. Ayodhya Iddawela Perera, on 07 December 2023 at the office of CPCEC, One Galle Face, Office Tower.

On the occasion of the handover, Mr. Amarasekera said that “Sampath Bank is geared to facilitate the financial ecosystem within the Colombo Port City by serving the investors and businesses from all economics and particularly from the regional economies. This milestone will pave the way forward in the Banks expansion drive for investment in strategic locations by serving international businesses and offering tailor made services backed by state-of-the-art technology, while contributing to the advancement of the national economy”.

“We have designed a range of offshore banking products and services that can elevate Bank’s local presence to global as we focus on new business opportunities being created through Special Economic Zone at Colombo Port City. We started early by serving Investors and Authorised Persons in Colombo Port City foreign currency zone within regulated framework and look forward for facilitation of diversification and bolster a service economy” said Bank’s Managing Director.

Sampath Bank offers full gamut of modern banking products and services for Corporates, Small and Medium-sized Enterprises and Retail customers through the network of island-wide established 229 branches. The principal activities of the Bank already includes corporate and retail lending, offshore project financing, trade financing, treasury and investment services, resident and non-resident foreign currency operations including array of digital banking services, inward-outward remittance facilities, travel related services, issuance of local and international credit and debit cards and dealing in government securities.