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The Commercial Bank of Ceylon has reaffirmed its leadership in technology, innovation and the delivery of the most advanced banking experiences to customers by reaching another milestone in Sri Lanka’s digital payment landscape with the introduction of Google Pay support for its Mastercard debit and credit cardholders, in collaboration with Mastercard and Google.
With this launch, Commercial Bank-issued Mastercard debit and credit cardholders can now add their cards to Google Pay payment app and make secure, contactless tap & go transactions using NFC-enabled Android smartphones. Customers can transact seamlessly at contactless-enabled Point-of-Sale terminals across Sri Lanka and at any location globally where Mastercard is accepted, eliminating the need to carry physical cards.
The solution leverages advanced tokenisation technology to safeguard every transaction. Actual card numbers are replaced with secure digital tokens, ensuring that sensitive card details are neither shared with merchants nor stored on devices. Each card is authenticated through one-time passwords or bank verification, delivering a payment experience that combines global standards of security with everyday convenience.
Designed for a wide range of use cases including groceries, dining, commuting, in-store and online payments, Google Pay offers Commercial Bank customers a faster, safer and more intuitive way to pay, aligned with the evolving digital lifestyles of Sri Lankans.
Commenting on the launch, Mr Sanath Manatunge, Managing Director/CEO of Commercial Bank said: “Launching Google Pay in Sri Lanka for the first time, and extending it to our Mastercard cardholders, underscores our determination to bring world-class digital payment solutions to our customers without compromise on security or reliability. This initiative strengthens our role as a catalyst for digital adoption in Sri Lanka, while giving our customers the freedom to transact globally with confidence, speed and simplicity. At Commercial Bank, digital innovation is not about novelty; it is about delivering practical, secure solutions that enhance convenience in everyday life of our customers and move the country’s financial ecosystem forward.”
Mr Sandun Hapugoda, Country Manager – Sri Lanka & Maldives at Mastercard, said: “This initiative introduces a new level of security, convenience and choice for Commercial Bank customers and Mastercard cardholders. By simply adding their cards to Google Pay, cardholders can Tap & Go locally and globally with confidence. Tokenisation protects card credentials end to end, ensuring every transaction is secure and accepted seamlessly across more than 210 countries and territories. Moreover, every contactless Mastercard transaction made in Sri Lanka will contribute to the construction of the Trail Cancer Hospital. This collaboration demonstrates how digital payments can extend beyond everyday utility to create lasting social impact, reflecting Mastercard’s commitment to Doing Well by Doing Good.”
Strategically, the launch of Google Pay with Mastercard underscores Commercial Bank’s long-standing commitment to digital innovation, customer security and convenience, while actively supporting Sri Lanka’s transition towards a cashless and digitally enabled economy. It is also expected to accelerate the adoption of touchless payments nationwide and contribute meaningfully to national digital economy initiatives, the Bank said.
With this latest first, Commercial Bank continues to set new benchmarks in Sri Lanka’s banking sector, reaffirming its leadership in delivering globally aligned digital payment solutions that are secure, convenient and future-ready.
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The All Ceylon Jamiyyathul Ulama (ACJU) has highlighted the importance of inclusive economic development, equal opportunities and stronger people-to-people ties in Sri Lanka’s engagement with China, stressing that international partnerships must benefit communities across the country.
The issue was discussed when Chinese ambassador Wei Huaxiang recently met ACJU General Secretary Ash-Sheikh M. Arkam Nooramith and members of the organisation’s Executive Committee to discuss bilateral relations, cultural and educational cooperation, minority communities and China’s role in the Global South.
Nooramith said the ACJU had emphasised the importance of ensuring that all ethnic and religious communities were treated with dignity, equality and respect, with inclusive development remaining a fundamental priority.
“As a country with a rich multi-ethnic and multi-religious heritage, Sri Lanka has much to gain from strengthening mutual understanding and fostering trust among its diverse communities,” he said.
The discussions carry significance beyond diplomatic relations, as Sri Lanka continues to pursue economic recovery, attract investment and strengthen international partnerships.
Ensuring that the benefits of economic development reach different regions and communities remains an important consideration in achieving sustainable growth.
For Sri Lanka, cooperation with China extends across infrastructure, trade, education and other sectors.
The extent to which such partnerships translate into economic opportunities, improved livelihoods and broader participation in development remains important to the country’s long-term economic prospects.
Nooramith said the ACJU had also discussed China’s experience in managing a diverse population, with ambassador Wei explaining the country’s approach to the welfare and development of its more than 56 recognised ethnic groups.
The exchange provided an opportunity to consider the relationship between social inclusion and national development, particularly the importance of ensuring that communities are treated fairly and have opportunities to participate in economic and social progress.
The ACJU also highlighted the role of China as a major member of the Global South, calling for continued constructive engagement to promote international peace, strengthen friendly relations and encourage greater cooperation among nations.
“At a time when the world faces numerous conflicts and geopolitical challenges, the need for dialogue, peaceful coexistence and mutual respect has become increasingly important,” Nooramith said.
For developing economies, international cooperation is particularly important amid geopolitical uncertainty, changing trade relationships and the need to secure sustainable sources of investment and economic growth.
Stronger engagement among countries of the Global South can provide opportunities for cooperation in trade, education, technology and development, although the benefits depend on how effectively such partnerships are implemented.
The ACJU expressed the hope that the Chinese Embassy would continue to engage positively with Sri Lanka’s diverse communities and institutions, contributing to cultural understanding, educational cooperation, social harmony and stronger people-to-people relations.
Ambassador Wei reaffirmed that China’s friendly policy towards Sri Lanka was directed at the Sri Lankan people as a whole, according to the Chinese Embassy’s account of the meeting.
Counsellor Ji Lili, who is responsible for cultural and educational affairs at the Chinese Embassy, also attended the meeting.
The discussions highlighted the importance of maintaining strong bilateral relations while ensuring that economic and social development remains inclusive. For Sri Lanka, the challenge is to translate international cooperation into tangible benefits for its people while strengthening social cohesion and creating opportunities across communities.
The meeting also reflected the potential for cultural and educational engagement to complement economic diplomacy by building trust, developing institutional links and encouraging closer interaction between the peoples of the two countries.
The Automobile Association of Ceylon (AAC) and Würth Lanka recently signed a Memorandum of Understanding (MoU) with the objective of providing special discounts on products and services offered by Würth Lanka to AAC members.
This partnership is aimed at extending exclusive benefits to AAC members, enabling them to enjoy special discounts and privileges when purchasing products and obtaining services from Würth Lanka.
The MoU formalises the mutual understanding and cooperation between the two organizations, further strengthening their relationship while enhancing the benefits and privileges available to AAC members.
The MoU was signed by the representatives of both organizations.
Asia Asset Finance PLC (AAF), a subsidiary of Muthoot Finance Limited and a member of the Muthoot Group, recorded a 110% year-on-year increase in Profit After Tax (PAT) to Rs. 838.5 million for the six months ended 30 September 2026, compared with Rs. 400 million in the corresponding period last year.
Profit Before Tax increased by 140% to Rs. 1.62 billion. During the six-month period, interest income grew 75% year-on-year to Rs. 6.86 billion, while net interest income increased 92% to Rs. 3.78 billion. Annualised Return on Equity reached 28.5%.
Commenting on the results, Rajiv Gunawardena, Chief Executive Officer of Asia Asset Finance PLC, said: “Deliberate cost controls and continued digitisation have helped us contain costs and improve efficiency, while prudent allocation of funds to quality assets offering better yields has strengthened profitability. With the commitment of our people and the backing of the Muthoot Group, we remain focused on responsible growth and lasting value for customers and shareholders.”
AAF’s total assets reached Rs. 66.63 billion as at 30 September 2026, an increase of 24% from 31 March 2026. Net loans and advances stood at Rs. 51.88 billion, supported by demand for secured lending, with gold loans accounting for approximately 73% of the lending portfolio.
Deposits increased 37% over the six months to Rs. 35.51 billion, reflecting continued customer confidence. Shareholders’ funds rose 47% during the same period to Rs. 7.01 billion, strengthened by the successful Rs. 1.50 billion rights issue and retained earnings.
Asset quality improved year-on-year, with the gross non-performing loan ratio declining to 7.6%, from 9.4% a year earlier, reflecting continued attention to portfolio quality and risk management.
Through its nationwide network of 125 branches, AAF continues to expand access to financial services. Women represent 56.6% of its active customer base, supporting the company’s focus on financial inclusion and women’s economic empowerment.
With a heritage spanning more than 55 years and a Fitch A+(lka) rating with a Stable Outlook, AAF remains focused on expanding its secured lending portfolio, strengthening digital capabilities and delivering sustainable long-term value to customers, shareholders and the wider Sri Lankan economy.
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