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CMA Sri Lanka signed a Training Partner Agreement with Mahindra IDEAL Finance Limited (MIFL)

Wed, 17/01/2024 - 18:24

CMA Sri Lanka signed a Training Partner Agreement with Mahindra IDEAL Finance Limited (MIFL)

The Institute of Certified Management Accountants of Sri Lanka (CMA) signed a Training Partner Agreement with Mahindra IDEAL Finance Limited (MIFL) on the 28th December 2023 and also with Araliya Management Servicers (Pvt) Ltd (AMSL) on the 7th January 2024 at the CMA institute located at Visakha Private Road Colombo 4. 

Prof. Lakshman R. Watawala the founder President and the President of CMA and Mr. Kosala Dissanayake the Actg. CEO signed on behalf of CMA, and Mr.  Duminda Weerasekare, the Chief Executive Officer and Mr. Chathura Galhena , Assistant General Manager -Internal Audit signed on behalf of Mahindra IDEAL Finance Co, witness by 2 officers of the organizations. 

Mahindra & Mahindra Financial Services Limited (MMFSL) in India has become the major shareholder of MIFL since 2021 and is licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 while it is registered under the Finance Leasing Act. No 56 of 2000. 

The registered office of Mahindra IDEAL Finance Limited is at No.299, Dr. Colvin R. De Silva Mawatha (Union Place), Colombo 2. 

who are in the outstations to join hands with the AMSL under the other Companies within the Group,  in their career progression of obtaining the Practical Training. 

Hence with these two Agreements the ICMA, will provide a substantial support to the CMA students / past finalists in the progression of their careers, fulfilling their training requirements to obtain the full qualification of CMA, with a full pledge training, which will be beneficial to the students as well as to the respective Companies.  

The current product portfolio of MIFL consists of granting Leases, Loans, Gold loans and accepting Fixed Deposits.  MIFL also has formed strategic alliance with agents who are Limited Liability Companies that import all types of light vehicles to Sri Lanka.

MIFL is currently a fast-growing non-banking financial institution in the country with a Fitch Rating of “AA (Ika) Outlook stable”.



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