Sampath Bank renews partnership with NCE reinforcing commitment to Sri Lankan exports

Sampath Bank PLC has announced the renewal of its partnership with the National Chamber of Exporters (NCE).

This strategic partnership underscores Sampath Bank’s commitment to bolstering the growth of Sri Lankan exports on the global stage and builds upon the Memorandum of Understanding (MoU) signed between the NCE and Sampath Bank last year, signifying a shared commitment to fortify Sri Lanka’s export industry.

Sampath Bank’s dedication to supporting its invaluable export clients goes beyond this partnership with the NCE. The bank has proactively engaged in various initiatives, aimed at facilitating their ventures on the global stage.

One notable action is the bank’s membership in USA, Canada, UK, Germany, China, Japan, Italy and India’s Business Councils of the Ceylon Chamber of Commerce. These councils play a crucial role in facilitating and developing trade investment and business relations between key markets and Sri Lanka.

These connections act as vital stepping stones for the bank’s clients, enabling them to explore new markets and establish meaningful international trade relationships.

Recognizing the paramount importance of access to information in international trade, Sampath Bank has set up its dedicated Advisory desks in theInternational Trade Department.

In addition, Sampath Bank has made substantial investments in a cutting-edge digital compliance system. This system automates trade compliance procedures, offering an extra layer of protection for local exporters. Before any transaction is initiated, the bank’s system checks whether the receiving party has been flagged or blacklisted, thus ensuring the security of the local exporter and promoting ethical international trade practices.

In the wake of the COVID-19 pandemic, many of Sampath Bank’s clients have faced the challenge of rebuilding their pre-pandemic operational capacities.

In response to these pressing circumstances, Sampath Bank has emerged as a strong pillar of support. The bank has extended additional financing to some clients, while others have seen their facilities restructured to better suit their current needs. Clients seeking to diversify or adapt to local markets have found steadfast support from the bank, ensuring their continued existence and growth in the market.

Senior Deputy General Manager – International Banking Shashi Kandambi Jassim said; “Sampath Bank supports its local export customers in every possible way, even in the face of the challenging economic situation both in Sri Lanka and across the world, as long as they remain compliant with international trade regulations.”

Sampath Bank PLC’s partnership with the NCE and its ongoing commitment to empowering Sri Lankan exports are a testament to its vision of a prosperous and sustainable future for the nation’s exporters.

The post Sampath Bank renews partnership with NCE reinforcing commitment to Sri Lankan exports appeared first on DailyNews.