The Bank of Ceylon, one of the most esteemed financial institutions in the Maldives, commemorated its 43rd anniversary on May 28, 2024. This milestone marks over four decades of distinguished service and significant contributions to the economic development of the island nation. Established on May 7, 1981, and granted its banking license on January 26, 1982, the Bank of Ceylon has been a pillar of financial stability in the Maldives. It has earned a reputation for reliability, stability, and customer-centric service, becoming one of the oldest and most respected banks operating in the country.
The anniversary celebration was held in a grand ceremony attended by distinguished guests, including the honorable Chief Guest, His Excellency Mr. Ranga Goonawardena, the High Commissioner of Sri Lanka to the Maldives. Prominent attendees also included the Chairman of Bank of Ceylon, Mr. Kavan Ratnayaka, General Manager/Chief Executive Officer, Mr. W. P. Russel Fonseka, Deputy General Manager – International, Treasury and Investment, Mr. G. A. Jayashantha, Deputy General Manager – Corporate & Offshore Banking, Mr. Rohana Kumara, and the Country Manager of Bank of Ceylon Maldives, Ms. Manjula Herath. Loyal customers and other esteemed guests gathered to commemorate this remarkable milestone in the bank's history.
Under the pioneering leadership of its first Country Manager, Mr. M. S. M. Liyawdeen, the Bank of Ceylon, Maldives has embarked on a journey marked by notable achievements. Over the years, the bank has financed numerous pivotal projects in the government sector, including the upgrade of Male International Airport Phase IV, the purchase and repair of surveillance, fire fighting, and coast guard vessels, the upgrade of the internal flooding system, and the construction of various government buildings. Additionally, the bank has provided budgetary support credit facilities to the government and state-owned enterprises. Beyond the government sector, the Bank of Ceylon, Maldives has been a key financier for major projects in resort development, tourism, construction, real estate, and businesses in the wholesale and retail sectors. The bank has also supported the inception of the guesthouse business in the Maldives, contributing to many success stories for startups.
As the Bank of Ceylon commemorates this significant milestone, it remains steadfast in its mission to foster continued economic progress and financial inclusion in the Maldives. With a focus on innovation, customer service, and community engagement, the bank is well-positioned to build on its legacy of excellence and contribute to the vibrant future of the island nation. "The Bank of Ceylon's 43 years of dedicated service in the Maldives is a testament to our unwavering commitment to support the economic growth and development of this beautiful and dynamic island country," said Mr. Kavan Ratnayaka, Chairman of Bank of Ceylon. "As we celebrate this remarkable achievement, we reaffirm our dedication to further strengthening our partnerships, driving innovation, and fostering financial inclusion to contribute to the continued prosperity of the Republic of Maldives and its people."
