The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) yesterday announced the launch of “Empower” - the SME Board to attract Small and Medium Enterprises (SMEs) to the CSE. The official launch is scheduled to be held on 05th July, at the BMICH.
As the apex regulator of the Capital/ Stock market, the SEC will expedite the launch of the “Empower” - SME Board, thus creating a platform to attract SMEs to the Colombo Stock Exchange (CSE).
Under a program to launch a series of new Capital Market Development Initiatives proposed by the new SEC Chairman, Ranel T Wijesinha, this launch, will for the first time in the history of the country and the history of the SEC and CSE, establish a dedicated platform for the SMEs. Chairman SEC, Ranel Wijesinha says “The rates of interest on bank loans in Sri Lanka at this time, are relatively high, and may not adequately encourage entrepreneurship. Thus, I firmly believe it is necessary for apex level statutory institutions such as ours, while focusing on all regulatory aspects fully and completely, to simultaneously fast tivise, and empower entrepreneurship and SMEs”.
Chairman of the CSE, Ray Abeywardena commenting on the launch of the SME Board said the SME Board will offer a new avenue to drive Sri Lankan SMEs through their next phase of evolution, by offering a unique proposition and an opportunity to access a deep pool of international and domestic capital.