Sri Lanka Christians Wave Black Flags to Protest Bombing Probe

Sri Lanka Christians Wave Black Flags to Protest Bombing Probe

With black flags, Sri Lanka Christians protest bombing probe

Christians in Sri Lanka chose a silent way to protest. They raised black flags at churches and homes. This action showed their frustration with the slow investigation into the Easter bombings. These bombings killed 269 people. Cardinal Malcolm Ranjith led this protest. He suggests that the real planners behind the attack might still be free.

At St. Sebastian’s Church in Negombo, the pain is deep. Many here lost loved ones. Manilal Ranasinghe criticizes the government for ignoring warnings. During the demonstration, Muslims also showed support by displaying black flags. This unity shows Sri Lanka’s strength in fighting terror.

Key Takeaways

  • Sri Lanka’s Christians show dissent through nationwide black flag protest.
  • Questioning of the integrity and thoroughness of the government’s bombing probe.
  • Cardinal Malcolm Ranjith has voiced suspicion over the arrests relating to the bombings.
  • Communities across religious lines in Sri Lanka showcase solidarity amidst tragedy.
  • Increased security measures enforced in response to the threat of terrorism.

Overview of the Easter Sunday Bombings and Subsequent Protests

On Easter Sunday, April 21, 2019, Sri Lanka faced chaos. This was because of suicide bombings by ISIS-inspired groups. National Thowheeth Jama’ath and Jammiyathul Millathu Ibrahim were behind it. They attacked Christian churches and luxury hotels in Colombo. This violence killed 270 people, including worshippers and foreigners, and hurt over 500.

This was the deadliest violence in Sri Lanka since 2009. The peace of a sacred holiday was destroyed for many. It reminded people of past conflicts.

Sectarian tensions grew after the bombings against the Muslim community. These people, making up 10% of the population, faced violence and boycotts. Despite warnings, the government’s response was slow due to issues and inefficiencies. This led to more trouble.

The Christian communities in Sri Lanka protested in response. They mourned their losses by waving black flags and demanded justice. These actions showed their pain and the need for better security.

The Sri Lankan Supreme Court pointed out serious governmental mistakes. These included inaction by the then-President Maithripala Sirisena despite prior warnings. This criticism has sparked widespread demand for improved security and accountability.

Aspect Details
Incident Date Easter Sunday, April 21, 2019
Locations Affected Christian churches and luxury hotels in Colombo, Sri Lanka
Casualties 270 dead, over 500 injured
Perpetrators Local Islamist extremist groups inspired by ISIS
Public Response Protests, waving of black flags by Christians
Government and Legal Response Judicial reprimand, call for security reforms

For more on Sri Lanka’s socio-economic stability, visit Sri Lanka’s economic crisis and recovery

With black flags, Sri Lanka Christians protest bombing probe

After the Easter Sunday attacks in 2019, Sri Lanka’s Christians are demanding justice. They’ve raised black flags as a symbol of their protest. This act comes as twenty-five people were recently charged for the bombings. These developments question the government’s investigation efforts.

About 7% of Sri Lanka’s population is Christian, mainly in areas like Negombo. This community was hard hit by the attacks, which claimed 269 lives. The attacks targeted them heavily, showing the risk they face in a country of diverse religions.

Sri Lanka’s Religious Demographics and Christian Minority

Christianity in Sri Lanka is mostly made up of Roman Catholics. This community, though small, was greatly affected by attacks on churches and hotels. It was the first major terror event since the Civil War ended in 2009. Such violence showed the religious group’s vulnerability among Buddhists, Hindus, and Muslims.

Accusations of Government Inaction and Political Conspiracy Allegations

The attack’s impact was profound, revealing political conspiracies. It highlighted a lack of cooperation between key leaders at the time. This resulted in missed warnings from foreign intelligence.

In Negombo, Christians gathered silently at St. Sebastian’s Church, waving black flags. They’re calling for action and measures to prevent future violence. Their protest shows they want those in power to take responsibility seriously.

Solidarity Across Communities in the Face of Tragedy

Despite being a minority, Christians saw support from other faiths after the bombings. Muslims and Christians united, raising black flags in grief. This act was a stand against the extremism that caused the tragedy.

Community bells rang at 8:45 a.m., marking the moment the tragedy began. This gesture called for peace and showed the community’s resilience. It’s a plea for respect and understanding among different faiths, aiming for a peaceful coexistence.

Sri Lanka Paves Way for Starlink to Enter Telecoms Market

Sri Lanka Paves Way for Starlink to Enter Telecoms Market

Sri Lanka has welcomed Elon Musk’s Starlink, SpaceX’s satellite internet division. The country’s parliament approved changes to its old telecommunications law. This allows Starlink to offer broadband internet access to Sri Lankans.

Sri Lanka Paves Way for Starlink to Enter Telecoms Market

The new bill marks a big change in Sri Lankan telecoms policy. It’s the first update to the existing law in almost 30 years. The amendments passed without a vote, showing strong support for Starlink.

Sri Lanka is now leading in adopting new satellite internet technology. This move could greatly improve broadband access across the nation. It shows Sri Lanka’s commitment to creating a more connected digital society.

Key Takeaways:

  • Sri Lanka amends telecommunications law to allow Starlink operations
  • Starlink poised to provide satellite internet services in Sri Lanka
  • Amendments mark first changes to Sri Lankan telecom law in 28 years
  • Move positions Sri Lanka as leader in adopting innovative technology
  • Potential for enhanced broadband access and connectivity nationwide

Sri Lanka Approves Amendments to Telecommunications Law

Sri Lanka has modernized its telecommunications law after 28 years. The Committee on Public Finance passed amendments to regulate satellite internet services. These changes aim to boost competition in the telecoms sector.

Parliament Passes New Bill to Allow Satellite Internet Providers

The Sri Lanka Telecommunications (Amendment) Bill aligns with global tech trends. It allows satellite internet providers to enter the market. This will improve remote connectivity and bridge the digital divide.

telecommunications regulatory approval

Amendments Introduce Three New Types of Licenses

The law adds three new license types, including infrastructure and telecom services. It aims to strengthen the Telecommunication Regulatory Commission’s powers. The new framework should attract more players and drive innovation.

The changes will help reduce market tariffs and protect undersea cables. This shows the government’s commitment to safeguarding infrastructure and consumer interests. State Ministers were present during the approval process.

Sri Lanka Paves Way for Starlink to Enter Telecoms Market

Sri Lanka has opened its doors to Starlink, a space technology giant. The company will operate as a licensed service provider. This move awaits regulatory approval from the government.

Starlink to Operate as Licensed Service Provider Pending Regulatory Approval

Starlink proposed operations in Sri Lanka in March. The company received preliminary approval in June after a fast-tracked process. Starlink now awaits final approval to start its high-speed internet services.

These services aim to reach even the most remote areas. This could greatly improve internet access across the country.

Opportunity Open to Other Companies Investing in Sri Lanka

Technology minister Kanaka Herath stressed this opportunity isn’t just for Starlink. The government welcomes any company investing in Sri Lanka’s growing IT sector. This initiative aims to bridge the digital divide, especially in rural areas.

Government Aims to Grow IT Sector to $15 Billion by 2030

Sri Lanka targets growing its IT sector to $15 billion by 2030. To reach this goal, the country needs foreign investment and expertise. Welcoming Starlink is a big step towards improving digital infrastructure.

Starlink’s entry could transform Sri Lanka’s digital landscape. Better internet access could boost economic growth, education, and social development. This move opens new opportunities for Sri Lankan citizens.

Conclusion

Sri Lanka’s telecom law amendment opens doors for Starlink to enter the market. This move expands internet access and boosts the country’s IT sector. It allows satellite internet providers to operate, tapping into the growing global IoT market.

5G technology and smart devices are driving demand for fast internet. Over 229 providers offer 5G services, with 700+ 5G-enabled smartphones available. Ericsson predicts 5G subscriptions will reach 5 billion by 2028.

Sri Lanka is reforming its education system and investing in digital infrastructure. Satellite internet providers like Starlink will be crucial for nationwide connectivity. This ensures all citizens can access online opportunities and resources.

By embracing technology and creating supportive regulations, Sri Lanka aims high. The country plans to grow its IT sector to $15 billion by 2030. This positions Sri Lanka to become a regional leader in digital innovation.

Kandy Esala Perahera Festival Returns in Full Splendor After Pandemic Restrictions Lifted

Kandy Esala Perahera Festival Returns in Full Splendor After Pandemic Restrictions Lifted

Kandy, a historic city in Sri Lanka, buzzed with excitement during the Esala Perahera festival. The event showcased vibrant colors, mesmerizing dances, and deep-rooted traditions. After a year of restrictions, the festival returned, captivating local and global audiences.

Organizers adapted to new norms, ensuring a safe and memorable celebration. The event ran from August 13th to 23rd, 2021. It followed strict health guidelines while highlighting rich Sri Lankan culture.

Kandy Esala Perahera Festival Returns in Full Splendor

The festival was live-streamed in seven languages to promote Sri Lanka. These included English, Sinhala, Tamil, Thai, Chinese, Cambodian, and Japanese. This collaboration between tourism bodies attracted nearly 16,000 international viewers.

The Kandy Esala Perahera festival proves Sri Lankan resilience and adaptability. Organizers used technology to connect the physical and virtual worlds. This allowed people worldwide to experience the magic of this centuries-old tradition.

A Triumphant Comeback: Kandy Esala Perahera Festival Shines Brightly

Sri Lanka’s iconic Buddhist festival, the Kandy Esala Perahera, has returned after pandemic restrictions. Vibrant costumes, fire dances, and whip crackers once again grace Kandy’s streets. Locals and tourists are captivated by the mesmerizing spectacle.

Overcoming Pandemic Challenges

Festival organizers faced numerous hurdles due to the global pandemic. Their determination and careful planning brought back the event in full splendor. This successful comeback showcases the resilience of the Sri Lankan people.

Adapting to New Norms for a Safe Celebration

Safety measures have been implemented to protect participants and spectators. Social distancing and mandatory masks are now part of the event. These adjustments ensure a safe celebration without compromising the festival’s essence.

The Kandy Esala Perahera’s return brings hope and celebrates Sri Lanka’s cultural heritage. Ancient traditions blend with modern precautions, ensuring the festival’s continued success. This beloved event will undoubtedly thrive for generations to come.

The Essence of Kandy Esala Perahera: A Blend of Tradition and Spectacle

The Kandy Esala Perahera is a grand celebration in Sri Lanka. This 10-day festival showcases the country’s rich cultural heritage. Visitors flock to witness the stunning processions during the “Esala” month.

The event holds great historical significance for Sri Lankans. It blends Buddhist traditions with local folklore, creating a unique spectacle.

The Historical Significance of the Festival

The Kandy Esala Perahera dates back to the 4th century. It honors Lord Buddha’s sacred tooth relic, housed in Kandy’s Temple of the Tooth.

The festival also pays tribute to four guardian deities. These include Natha, Vishnu, Kataragama, and Goddess Pattini. This showcases the region’s diverse religious beliefs.

Key Elements of the Perahera Procession

Grand processions are the heart of the Kandy Esala Perahera. They feature traditional Kandyan dancers, fire performers, and skilled drummers.

The elephant pageant is a major highlight. Beautifully adorned elephants parade through the streets in colorful costumes.

A majestic tusker carries a replica of the sacred tooth relic casket. The processions create an atmosphere of joy and cultural pride.

The Role of the Sacred Tooth Relic

The sacred tooth relic is central to the Kandy Esala Perahera. It’s believed to have arrived in Sri Lanka in the 4th century.

The relic symbolizes sovereignty and is a source of blessings. The festival ends with a water-cutting ceremony at the Mahaweli River.

During this ritual, the sacred tooth relic is venerated. Blessings are invoked for the nation’s well-being and its people.

Kandy Esala Perahera Festival Returns in Full Splendor

Kandy’s ancient city bursts with life as the Esala Perahera festival returns. This ten-day event showcases Sri Lanka’s rich cultural heritage. Held annually in July-August, it features traditional dances, music, and a grand elephant parade.

Over 100 adorned elephants march in the festival’s spectacular procession. Hundreds of Kandyan dancers and drummers in traditional attire join them. The Esala Perahera includes five separate parades, each honoring different deities.

Vibrant Displays of Cultural Heritage

The Kandy Esala Perahera festival boasts a 1,600-year history. It’s a living testament to Sri Lanka’s enduring cultural traditions. The festival ends with a procession led by the Maligawa Tusker.

This special elephant carries a replica of the Sacred Tooth Relic. The relic is usually housed in Kandy’s Temple of the Tooth.

Mesmerizing Performances by Dancers and Musicians

Kandy’s streets pulse with the rhythmic beats of skilled drummers. Graceful Kandyan dancers, fire dancers, and whip dancers captivate onlookers. These performers wear elegant costumes that showcase Sri Lanka’s rich artistic heritage.

The Majestic Elephant Procession

A highlight is the merging of four devale peraheras. Each devale is dedicated to a specific deity. Dozens of adorned elephants create a majestic procession that amazes visitors.

This grand display draws people from around the world. They come to experience the essence of Sri Lankan culture and tradition.

Conclusion

The Kandy Esala Perahera festival has made a triumphant return in 2023. This centuries-old tradition dates back to the 3rd century BC. The event showcases Sri Lanka’s rich cultural heritage and religious significance in the sacred city of Kandy.

The festival’s core is the veneration of Buddha’s Sacred Tooth Relic. This relic has been central to the celebration since 310 A.D. The pageant features thousands of dancers, drummers, musicians, and majestic elephants.

The final night is the festival’s peak. It involves about 5,000 performers and 100 elephants. The event ends with the sacred Diya-kepeema ritual at the Mahaweli River in Getambe, Kandy.

The Kandy Esala Perahera’s revival shows Sri Lankan culture’s resilience. It brings joy and unity to the people of Sri Lanka. The event also proves the country’s dedication to preserving its heritage for future generations.

Sri Lanka faces challenges with changing agricultural policies and their economic impact. Yet, the Kandy Esala Perahera remains a symbol of hope and pride for all Sri Lankans.

Seylan Bank Records Profit After Tax of LKR 6.59 Billion for of 2024

Seylan Bank Records Profit After Tax of LKR 6.59 Billion for of 2024

Seylan Bank has shown strong financial performance in a tough economic climate. The bank’s 2024 report reveals a profit after tax of LKR 6.59 billion. This marks a 46.65% growth compared to 2023.

Seylan Bank Records Profit After Tax of LKR 6.59 Billion for of 2024

Seylan’s success stems from smart strategies and economic resilience. The bank’s profit before tax rose by 47.72% to LKR 10.61 billion. This covers the nine months ending September 30, 2024.

Key indicators show Seylan’s strong financial position. Despite lower net interest income, the bank boosted its net fee-based income by 8.10%. This improvement contributed to overall profitability.

Seylan’s focus on optimizing operations and managing expenses has been crucial. These efforts have played a key role in the bank’s success.

Seylan Bank’s Financial Performance in 2024

Seylan Bank’s financial statements show strong performance in the first nine months of 2024. The bank’s profit before tax reached LKR 10,608 million, growing 47.72% from 2023. Profit after tax increased by 46.65% to LKR 6,593 million.

Net interest income decreased by 10.77% to LKR 27,262 million. This drop was due to lower net interest margins, falling from 5.76% to 5.03%. However, Seylan Bank maintained a healthy financial position through income diversification.

Net Fee-Based Income Growth

Fee-based income grew by 8.10% to LKR 5,829 million. This increase came from cards, remittances, and lending-related services. The growth shows Seylan Bank’s ability to adapt to changing customer needs.

Operating Income and Expenses

Total operating income fell by 8.32% to LKR 34,264 million. This was mainly due to lower net interest margins. Operating expenses rose by 13.20% to LKR 15,674 million.

Personnel expenses increased because of higher staff benefits based on collective agreements.

Impairment Charges and Credit Quality

Seylan Bank’s focus on credit quality and recovery initiatives paid off. Impairment charges dropped by 69.14% to LKR 4,150 million. This decrease shows the bank’s careful approach to risk management.

The bank maintained a healthy loan portfolio despite challenging economic conditions.

Key Financial Ratios and Indicators

Seylan Bank showed strong financial results in the first nine months of 2024. The bank focused on smart asset management and kept good liquidity. This approach has set them up for lasting growth and value for stakeholders.

Capital Adequacy and Liquidity Coverage Ratios

Seylan Bank’s capital ratios beat regulatory minimums. The Common Equity Tier 1 and Total Tier 1 Capital Ratio was 12.25%. The Total Capital Ratio hit 17.05%.

These numbers show the bank can handle potential losses well. The All Currency Liquidity Coverage Ratio was 442.64%. The Rupee Liquidity Coverage Ratio reached 509.82%.

Asset Quality and Impairment Ratios

The bank’s asset quality got better. The Impaired Loan Ratio dropped to 3.05% from 3.85% in 2023. This shows Seylan Bank manages credit risk well.

The Impairment to Stage 3 Loans Ratio was 72.85%. This means they have good coverage for non-performing loans.

Return on Equity and Return on Average Assets

Seylan Bank’s profit metrics grew. Return on Equity rose to 13.87%. Return on Average Assets hit 1.96%. These numbers show the bank makes good returns for shareholders.

Earnings per Share and Net Assets Value per Share

Earnings per Share grew to LKR 10.37 by September 30, 2024. This shows strong earnings growth. Net Assets Value per Share was LKR 104.22.

Seylan Bank’s focus on good governance and social duty makes it a great long-term investment. Their strong finances back this up.

Seylan Bank’s Commitment to Social Responsibility

Seylan Bank shows strong dedication to social responsibility and community engagement. Their focus on education shines through the “Seylan Pahasara Libraries” initiative across Sri Lanka. In the first nine months of 2024, they opened 29 new libraries, bringing the total to 254.

These libraries empower young minds and encourage a love for learning. They serve as community hubs where children can explore books and engage in educational activities. This initiative benefits individual children and contributes to community development.

Seylan Bank’s social responsibility goes beyond education. They participate in programs for health, environment, and social welfare. By working with local organizations, the bank creates positive change for those in need.

As Seylan Bank grows, it remains committed to social responsibility. They recognize their success is tied to community well-being. Through various initiatives, the bank aims to create a lasting positive impact on society.

Central Bank Digital Banking Framework Boosts Inclusion

Central Bank Digital Banking Framework Boosts Inclusion

Sri Lanka’s Central Bank Digital Banking Framework aims to boost financial inclusion. It uses digital tech and innovative payment solutions. The goal is to bring unbanked people into the formal financial system.

The framework supports fintech innovations and digital payment systems. It promotes interoperability among platforms and strengthens consumer protection. These efforts build trust and encourage adoption of digital banking services.

Central Bank Introduces Digital Banking Framework to Enhance Financial Inclusion

Success depends on a strong payment system infrastructure. This ensures smooth integration between traditional and digital banking. Collaboration among financial institutions, tech providers, and regulators is vital.

The framework empowers citizens with affordable, convenient financial services. It bridges the digital divide and promotes financial literacy. This initiative can uplift lives and boost economic growth.

Key Takeaways

  • The Central Bank Digital Banking Framework aims to enhance financial inclusion in Sri Lanka through digital technologies and innovative payment solutions.
  • The framework creates a supportive environment for fintech innovations, promoting interoperability and strengthening consumer protection.
  • Establishing a robust payment system infrastructure is crucial for the success of the digital banking framework.
  • Collaboration among stakeholders is essential in driving the digital transformation of the banking sector.
  • The initiative has the potential to empower citizens with access to affordable and convenient financial services, contributing to economic growth.

Central Bank Introduces Digital Banking Framework to Enhance Financial Inclusion

Sri Lanka’s Central Bank has launched a new digital banking framework. This move aims to boost financial inclusion and drive economic growth. The framework encourages innovation while protecting consumers and maintaining financial stability.

The Role of Central Bank Digital Currency (CBDC) in Promoting Financial Inclusion

CBDCs offer a safe, digital way to pay. They can help more people join the formal financial system. A 2022 BIS survey shows 93% of central banks are exploring CBDCs.

The Central Bank of Sri Lanka’s framework paves the way for CBDC adoption. This could greatly improve financial inclusion efforts in the country.

digital banking framework

India’s Progress in Digital Payment Systems and Its Impact on CBDC Implementation

India’s success with digital payments offers valuable lessons for Sri Lanka. Mobile wallets and telco-based systems are widely used in India. This success could smooth the way for CBDC implementation.

Most central banks see value in having both fast payment systems and CBDCs. Sri Lanka can learn from India as it moves towards a cashless society.

Addressing Challenges in CBDC Adoption for Financially Underserved Populations

CBDCs can boost financial inclusion, but challenges remain. Low literacy and complex systems can hinder adoption. The new framework focuses on consumer protection and data privacy.

Caps on CBDC holdings and clear rules aim to create a safe environment. These measures will help ensure widespread adoption of digital currencies.

The National Digital Transformation Initiative supports the Central Bank’s efforts. It invests in digital infrastructure and skills development. This initiative aims to create a thriving digital economy for all.

Sri Lanka’s progress in digital banking is promising. The Central Bank’s framework lays the groundwork for greater financial inclusion. It also sets the stage for sustainable economic growth in the country.

Key Components of the Digital Banking Framework

The digital banking framework has several key components. These elements promote financial inclusion and enhance banking experiences. Together, they create a robust and accessible digital banking ecosystem.

Establishing a Robust Payment System Infrastructure

A strong payment system infrastructure is crucial for digital banking. It ensures smooth transactions and reduces costs. This leads to increased user acceptance.

The World Bank’s 2017 Global Findex report shows significant progress. Between 2010 and 2017, 515 million adults acquired a financial account. This highlights the importance of accessible payment systems.

An effective payment system depends on several factors. These include merchant and consumer acceptance, supporting infrastructure, and cost-effective legislation. These elements are vital for mass adoption.

  • Acceptance by merchants and consumers
  • Infrastructure to support the system
  • Legislation to ensure cost-effectiveness and mass adoption

Enabling Interoperability Among Digital Payment Platforms

Interoperability is key for digital payment platforms. It allows smooth transactions across various systems. This enhances user experience and promotes widespread adoption.

Multi-CBDC (mCBDC) arrangements coordinate national CBDCs. They play a vital role in enabling interoperability. These arrangements align regulatory frameworks, practices, and messaging formats.

Country CBDC Status
The Bahamas Launched in December 2020
Nigeria Launched in 2021
Jamaica Launched in 2022
China Conducting large-scale pilot
Brazil Actively piloting CBDC project
India Actively piloting CBDC project

Strengthening Consumer Protection and Data Privacy Regulations

Digital banking’s growth makes consumer protection and data privacy crucial. Strong regulations in these areas protect users’ interests. This helps maintain trust in the digital banking ecosystem.

The Central Bank has released new regulations. These enable market conduct monitoring to ensure effective financial consumer protection. This step further strengthens the digital banking framework.

Key aspects of protection in digital banking include fair treatment and secure data handling. Clear communication and efficient dispute resolution are also important. These measures safeguard users in the digital banking environment.

  1. Transparent and fair treatment of consumers
  2. Secure handling and storage of personal data
  3. Clear communication of terms and conditions
  4. Efficient dispute resolution mechanisms

Conclusion

Digital banking frameworks from central banks could revolutionize financial inclusion in Sri Lanka and India. This framework can offer secure, accessible payments for everyday transactions. The impressive performance of Sri Lanka’s stock highlights the country’s economic growth and strong corporate governance.

Success depends on robust payment infrastructure and interoperable digital platforms. Consumer protection and data privacy regulations are also crucial. Over 75% of sub-Saharan African countries are researching CBDCs.

A quarter of these nations plan to launch CBDCs by 2028. Financial inclusion and efficient domestic payments drive CBDC adoption. Mobile money services are already popular in the region.

Central banks must balance financial inclusion with system stability. Collaboration with organizations like the IMF can help address CBDC adoption challenges. A well-designed framework can bridge gaps between the underserved and formal banking.

This approach could contribute to sustainable economic growth and development. It has the potential to create a more inclusive financial landscape for citizens.