Lankaputhra Development Bank signs MOU with CMA Sri Lanka as Accredited Practical Training Partner
Lankaputhra Development Bank (LDB), a fully-owned government bank signed an MOU with the Institute of Certified Management Accountants (CMA) of Sri Lanka, the National Professional Management Accounting Institution in Sri Lanka incorporated by parliament Act No. 23 of 2009. CMA has over 12,000 students and 2,000 members. CMA is a member of South Asian Federation of Accountants (SAFA) and a member of International Federation of Accountants (IFAC), which is the world body of professional accountants. The MOU will enable LDB to build professional links among the CMA members, students and the institutes. CMA undertakes to monitor and mentor their students in the organisation and provide them with professional advice relevant to the workplace. Lankaputhra Development bank will be participating in educating and character building of the certified management accountants. While practical training is essential for all CMA candidates in obtaining their membership, their presence in an organisation will help it to be aware of the latest development in the field of management accounting. The CMA training program has been developed in accordance with the international standards of the International Federation of Accountants (IFAC), the world body for professional accountants operating to meet the growing demands of competitive organisations at both national and international levels. Lankaputhra Development Bank is a fully fledged government bank opened to strengthen the local economy by supporting the entrepreneurs of the country. The bank has initiated many loan schemes to support the small and medium entrepreneurs in the country such as project loans, microfinance loan scheme, special project loans. Apart from these loan schemes, bank offers Laksaviya leasing facility and Laksahana pawning facility. Several savings schemes including Lakmuthu children’s savings, Laksetha Senior Citizen’s savings, Sandaliya Women’s savings account are on offer with attractive rate of interest. At present the bank has branches in Colombo, Hambantota, Polonnaruwa, Kegalle, Kandy, Wennappuwa, Batticaloa and Trincomalee.