FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» L G I L - Maharaja special
by Chula Today at 8:13 pm

» SGH buys EXPO from retailers
by Maharaja Today at 5:20 pm

» HAYLEYS PLC (HAYL.N0000)
by cseboss Today at 11:34 am

» NO FURTHER INCREASE IN TAXES-PRES. RANIL WICKRAMASINGHE
by ADVENTUS Yesterday at 3:48 pm

» AAIC 100 = SCAP 16
by Equity Win Yesterday at 2:11 pm

» CARGO BOAT DEVELOPMENT COMPANY PLC (CABO.N0000)
by Dasun Maduwantha Yesterday at 12:10 pm

» Nestle‚ declares highest ever dividend
by Shiranli Yesterday at 11:24 am

» PRIME LANDS RESIDENCIES PLC (PLR.N0000)
by Anushka Perz Yesterday at 11:15 am

» Buy lofc tomorrow - Maharaja
by Maharaja Yesterday at 9:47 am

» MULTI FINANCE PLC (MFL.N0000)
by Eleven Mon Aug 08, 2022 9:28 pm

» AGSTAR PLC (AGST.N0000)
by Thushara Ayya Mon Aug 08, 2022 4:18 pm

» ACL; MELS; HHL; BIL; LWL- STOCKS TO WATCH
by ADVENTUS Mon Aug 08, 2022 1:43 pm

» LIOC ....Get in soon
by samaritan Mon Aug 08, 2022 11:49 am

» Sinopec likely to enter Lankan fuel market
by samaritan Mon Aug 08, 2022 9:41 am

» RW - Rescue Warrior of Sri Lanka's Economy
by reyaz Mon Aug 08, 2022 8:17 am

» Should Central bank increase Interest rates?
by reyaz Mon Aug 08, 2022 7:52 am

» LPRT and CHOT old and profitable businesses, yet severely undervalued
by sheildskye Sun Aug 07, 2022 12:05 pm

» Day Trader may find a stock attractive if it moves a lot during the day. Stock market for beginners and day traders
by Asoka Samarakone Sat Aug 06, 2022 11:54 am

» Foundation laid for Nestlé Lanka’s Rs.5bn factory expansion
by nilantha suranga Sat Aug 06, 2022 1:57 am

» HAYLEYS PLC (HAYL.N0000)
by cseboss Fri Aug 05, 2022 7:21 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Mayor of City of London lists priorities to make Sri Lanka a financial centre

Mayor of City of London lists priorities to make Sri Lanka a financial centre

Go down  Message [Page 1 of 1]

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

The Lord Mayor of the City of London Alderman Alan Yarrow yesterday shared a raft of key measures Sri Lanka should prioritise if it is keen on becoming a competitive financial centre in the region.
Speaking at a CEO’s Forum organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Chartered Institute for Securities and Investment (CISI), Yarrow spoke on key factors such as innovation, legal structure, skills, product development, English, geography, ethics, infrastructure and hard work, which Sri Lanka should focus on in order to become a major financial hub. 
Pointing out that Sri Lanka had more qualifications per capita than any other emerging economy, he emphasised that becoming competitive in terms of skills was not sufficient to earn the status of being a respected financial player within the region.
“You have to be creative, innovative and well disciplined,” said the Lord Mayor at the Forum.
Revealing how the City of London became a competitive financial centre, Mayor Yarrow said that the combination of innovation and trust in the traditional foundation of the City of London and structural markets were helpful in attracting many international banks to the city. 
“Innovation is critically important. It is about what customers really want and trying to put the transaction in place where value is delivered to the customer. But innovation alone cannot deliver value to the customer. We want the right cluster of lawyers and the right cluster of professionals and also the right cluster of banking services. Basically, it is about a combination of everything being in one place,” he added. 
Yarrow also cautioned against over-regulation, saying it could kill innovation. Noting that markets were always ahead of regulation, the Mayor of City of London it was up to individual countries to decide whether to embrace a model of single super regulator or multiple regulators. 
Outlining how Singapore had become successful, he said that although it did not have the luxury of agriculture or skills like Sri Lanka, it thrived by being competitive and open-minded. 
“They are focused on doing the best they can do and it is a necessity. I think Sri Lanka has got to have that necessity as well. Singapore is being highly-competitive and hardworking,” the Lord Mayor told the Forum, which included a panel discussion involving industry experts HNB Managing Director Rajendra Theagarajah, First Capital CEO Dilshan Wirasekara and Copal Amba Country Head Chanakya Dissanayake.
“We all have a role to play in building the future of our global industry and we in the CISI and the UK want to support the development of the Sri Lankan financial services industry,” emphasised Yarrow, who completed a three-day visit yesterday – the first by a Mayor of City of London in over 30 years.
Acknowledging the significance of professional behaviour for development, the Mayor said: “We as the City of London get judged on how we treat people. Thus, the people have to be disciplined.” 
The UK is the world’s leading exporter of financial and professional services with a trade surplus of £71 billion in 2013. It also accounted for 41% of global foreign exchange trading. Financial and related professional services contributed £174 billion to the UK economy in 2012 and represents 12.6% of UK economic output.
Commenting on Sri Lanka’s political framework, he said that the country had positioned itself strongly by using a democratic approach, which worked really well during the recent election. He stressed that keeping expectations in line with improvements in governance and delivery would help Sri Lanka going forward.
Courtesy: Daily Financial Times 20 May 2015

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum