A physical Investors’ Forum was organized by the Embassy of Sri Lanka together with the Consulate General of Sri Lanka in Dubai, Securities and Exchange Commission of Sri Lanka (SEC) and Colombo Stock Exchange (CSE) at the Sheraton Grand Hotel Dubai on 5th November 2021. This was the first physical forum of SEC-CSE after the Covid-19 pandemic. The forum made a strong platform for investment flows into Sri Lanka. The event drew a strong turnout with the participation of leading UAE based Sri Lankans across multiple industries including Emirates. The forum was graced by attending Hon. Ajith Nivard Cabraal as well as Chairman of SEC and Chairman of CES. .
Delivering the welcome address, H.E Malraj de Silva, Ambassador of Sri Lanka to UAE insisted that he was very happy with the enthusiasm shown by the Sri Lankan expatriate community and UAE investors in participating in the forum and invited the participants to reap the benefits of investing in Sri Lanka.
Hon. Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka made the keynote address at the event and invited the expatriate community to be a part of the growth story of Sri Lanka. The Hon.Governor highlighted the fact that the first step that he took after he assumed office was to ensure clarity from the Central Bank of Sri Lanka (CBSL)’s side. . Further he emphasized on the commitments made by the Government in terms of interest rates and settlements of loans which have been settled without any dues. “The time is now and time is right, for you to take up positions on the investment. We still have a lot of potential for the stock exchange to grow. In 2014, the market capitalization reached now about 25 billion after seven years, even notwithstanding the growth in numbers.”
Mr. Viraj Dayaratne , Chairman of the SEC indicated that SEC is the regulatory institution and its priority to ensure the protection of investors and the integrity of the market. It is also necessary to ensure that all market participants have the freedom and the space to engage in their activities through real time surveillance on a daily basis with regard to the trades that are taking place. Digitalization resulted in a large number of new accounts being opened and a large number of investors have come into the market, he further added.
Mr. Dumith Fernando, Chairman of the CSE indicated that “The All Share Price Index is up 58, the listed companies recorded revenues of 940 billion rupees and profits after tax is 78 billion rupees which is an all-time high. He further highlighted that they have received a record number of investors recently participating in the market.
Officials of SEC and CSE featured for a panel of discussion and answered all questions from the audience. The Consul General of Sri Lanka Mr. Nalinda Wijerathna delivered the closing remarks and thanked the SEC and SEC for conducting this physical forum in Dubai, UAE.
Embassy of Sri Lanka
United Arab Emirates