SEC and CSE complete third phase of market digitalisation

28 August, 2022
The bell-ringing ceremony. From left: CSE CEO, Rajeeva Bandaranaike, CSE Director, Jayantha Fernando, CSE Director, Dimuthu Abeywardena, CSE Director, Ray Abeywardena, CSE Chairman, Dilshan Wirasekara, SEC Chairman, Viraj Dayaratne PC, SEC/CSE Joint Committee Chairman for Digitalization, Naresh Abeyesekara, SEC DG, Chinthaka Mendis, SEC Commission Member, Sanjaya Bandara, SEC Commission Member, Manil Jayesinghe, CSE Director, Arjuna Herath and SEC Commission Member, Sanjeewa Dissanayake

A market opening ceremony was organised by the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) under the patronage of SEC Chairman Viraj Dayaratne, to mark the third phase of digitalisation of the Sri Lankan Capital Market and to celebrate the 35th Anniversary of the SEC. The launch was themed ‘Sri Lankan Capital Market – The Odyssey’.

A joint committee was formed by the Chairman of the SEC with the objective of identifying measures and mechanisms required for the Colombo Stock Market to conduct its core activities digitally. The committee comprised representatives from the SEC and the CSE and has worked towards converting paper-based statements to electronic forms.

The committee launched a transformative digital offering through the CSE Mobile App, an end-to-end digital onboarding and online account opening feature. In the third phase, the committee explored avenues to bring in investments from retail investors living outside of Sri Lanka.

The committee developed infrastructure to offer convenient registration and investment opportunities to these foreign investors. Fourteen new features were also introduced as part of the third phase of digitalisation.

– Sunday Observer Sri Lanka

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