DFCC Aloka Financial Literacy Forums Empower Female Entrepreneurs in Batticaloa and Badulla
October 30, 2023
Financial literacy is a pivotal challenge facing female entrepreneurs in Sri Lanka. Recognising this, DFCC Aloka, a complete financial proposition for women, has extended its support to female entrepreneurs by offering financial support and valuable non-financial benefits. Among these initiatives, the DFCC Aloka Financial Literacy Forums are spreading awareness through enlightening knowledge-sharing sessions across the country, with the most recent events being held in Batticaloa and Badulla. Through initiatives such as these, DFCC Bank provides free business consultation support and knowledge-sharing to transform these inspiring women into success stories that contribute to the nation’s economy.
DFCC Aloka stands out by offering preferential interest rates, concessionary fees, and commissions exclusively to female businesswomen and consumers to encourage and facilitate their participation in the banking sector. A significant portion of female-owned businesses and individual women in Sri Lanka remain unbanked or underbanked, highlighting the crucial need for such initiatives.
Emphasising DFCC Bank’s commitment to women, Aasiri Iddamalgoda, Senior Vice President of Retail Banking and SME, said, “We believe in the power of women in business. Our commitment to empowering female entrepreneurs is unwavering, and we are here to support their financial growth and success. Guided by our Sustainability Strategy, DFCC Bank is committed to fostering a diverse, equitable, and inclusive society that significantly focuses on women’s empowerment. Through these efforts, we are creating resilient communities in Sri Lanka, contributing to a better and more robust future for all Sri Lankans through sustainable finance.”
The recent DFCC Aloka Financial Literacy Forums in Batticaloa and Badulla garnered enthusiastic appreciation from all participants, with many distinguished individuals and high-ranking officials from DFCC Bank also in attendance. In Batticaloa, Guest Speaker Bharathi Kennedy, a Senior Lecturer at the Department of Management Studies & Commerce at the Eastern University, shared her insights. Also present at the event were Shera Hassen, Vice President, and Head of Pinnacle at DFCC Bank, as well as other key figures, including Candiah Jegaraja, Regional Manager, Ruwani Weerasinghe, Senior Proposition Manager – Aloka, and Kandiah Kugathasan, Branch Manager – Batticaloa.
In Badulla, the Guest Speaker was Chandana Garusinghe, who conducted an engaging discussion on “Financial Literacy and Managing Finances for a Secure Future.” The event also featured a comprehensive presentation on credit opportunities through refinance loan schemes and funding options available to females by Nilusha Wickramage, ARM Regional Credit Hub at DFCC Bank. Also in attendance were Shera Hassen, Ruwani Weerasinghe, and Duminda Yapa, Branch Manager– Badulla. These events exemplify DFCC Aloka’s commitment to promoting financial literacy and inclusivity in Sri Lanka, focusing on empowering female entrepreneurs.
A female-centric, complete banking proposition, DFCC Aloka seeks to provide aspiring Sri Lankan females with the financial tools they need to succeed. In addition to a branded credit card with female-centric benefits, DFCC Aloka accountholders enjoy a complete 360 banking proposition with many unique benefits. These include a low initial deposit of just Rs. 1,000/-, preferential interest rates, free ATM withdrawals from any DFCC or LankaPay ATM across the island, rewards at important milestones such as childbirth, wedding, graduation etc., free digital banking services and convenient, safe home banking services via MTeller. They also receive pawning facilities at preferential interest rates, free life insurance up to 10 times the savings balance, and free digital health solutions in partnership with Doc990 for the account holder and 3 family members. On top of these benefits, DFCC Aloka also aids and facilitates funding arrangements to support female entrepreneurship, including grants.
Moreover, DFCC Bank has been the first and, to date, the only entity in Sri Lanka to receive accreditation from the Green Climate Fund (GCF), granting access to concessionary funding worth USD 250 million. This funding supports climate mitigation and adaptation projects across the island, including initiatives to bolster female entrepreneurship.
About DFCC Bank
DFCC Bank is a full-service commercial bank with a rich history of 68 years and offers a diverse range of commercial and development banking services. As part of its Sustainability Strategy 2020-2030, the Bank aims to become a leading institution contributing to greater resilience by creating resilient businesses and supporting green financing and sustainable, socially responsible entrepreneurship. The Bank has received numerous accolades, including being named the ‘Most Trusted Retail Banking Brand’ and the ‘Best Customer Service Banking Brand’ in Sri Lanka in 2021 by Global Brands Magazine UK and ‘Market Leader in Cash Management 2021’ by Euromoney. Additionally, DFCC Bank is ranked among Business Today’s Top 40 Corporates in Sri Lanka, is rated A- (lka) by Fitch Ratings Lanka Limited and is regulated by the Central Bank of Sri Lanka. Attesting to its commitment to sustainability, DFCC Bank is also the first, and presently only, entity in Sri Lanka to have received accreditation from the Green Climate Fund (GCF), granting it access to concessionary funding worth USD 250 million to support climate mitigation and adaptation projects across the island.