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The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka.It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, [3] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [4]
Softlogic Life Insurance was added to the S&P Sri Lanka 20 Index when an ad hoc index rebalancing occurred due to Commercial Leasing and Finance merging with LOLC Finance in March 2022. [11] Softlogic Life is one of the LMD 100 companies in Sri Lanka. The company was ranked 60th in the 2021/22 edition of the list.
Ceylinco Life retained its position as the most valuable life insurance brand with a brand value of LKR3.8 billion in 2022. [17] Meanwhile, Ceylinco General became a close second in the most valuable general insurance provider with a brand value of LKR3.6 billion against the market leader, Sri Lanka Insurance's LKR4.1 billion brand value.
Sri Lanka Insurance Corporation Limited, also known as Sri Lanka Insurance is the largest and strongest composite insurance provider in Sri Lanka. It is the first and only insurance company in Sri Lanka to be assigned a prime AAA− rating for Insurance Financial Strength from the US rating agency Fitch Ratings New York City. The company now ...
It is considered as one of the most systemically important banks in Sri Lanka. It is the largest lender to Sri Lanka's Small and Medium Enterprise sector. [7] The Ministry of Finance of Sri Lanka revealed that the Commercial Bank of Ceylon was the biggest lender to SME sector for the year 2020 amounting to an estimated amount of 21.6 billion ...
The Sri Lanka Interbank Payment System, commonly known as SLIPS, is a LKR-only online interbank payment and fund transfer system in Sri Lanka. [1] [2]SLIPS is owned by LankaClear, an organization owned by the Central Bank of Sri Lanka and all Licensed Commercial Banks operating in Sri Lanka, with 47.19% of shares held by the CBSL and State owned commercial banks, and 52.81% by other private banks.
A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. [1] Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account.
[citation needed] SAFE consists of 17 exchanges from India, Pakistan, Bangladesh, Sri Lanka, Nepal, and Bhutan. Its primary objectives are to encourage cooperation among its members to promote the development of their individual securities markets, to develop an integrated regional stock trading system, and to offer to list and trade securities ...