ECONOMYNEXT – Sri Lanka’s Commercial Bank of Ceylon said it had opened a representative office in the Dubai International Financial Centre becoming the first bank from the island to have a presence in the UAE.
The Representative Office will serve as a point of contact for the Bank’s clients in Sri Lanka, as Bangladesh and the Maldives, who have operations in the UAE.
“To achieve our strategic vision and the growth we are inherently capable of, we have to expand our global footprint, and this will also enable the Bank to support the objectives and ambitions of its customers,” Sharhan Muhseen said in a statement
“Opening a Representative Office in DIFC is therefore an important stepping stone to expand the international footprint of Commercial Bank.”
Commercial Bank has a subsidiary in Bangladesh with 20 outlets, a Microfinance company in Myanmar, and a fully-fledged Tier I Bank in the Maldives.
“By establishing a presence in the Dubai International Financial Centre, the Bank gains access to a well-regulated, internationally recognised platform that supports global business connectivity,” Managing Director and Chief Executive Sanath Manatunge said.
“This enhances our ability to support cross-border clients, and drive long-term growth in the Middle East.”
The office in the DIFC will promote the Bank’s brand, supporting trade business, and offer regional support, the bank said.
The UAE is an economy with monetary stability, without an activist independent policy rate and a fixed exchange rate providing free flow of capital and inflation around that the US. (Colombo/May02/2025)
