NDB joins hands with Daraz to support entrepreneurs and SMEs

Front row from left: Daraz.lk Managing Director/CEO Rakhil Fernando, NDB Director/Group CEO Dimantha Seneviratne, NDB Chief Operating Officer Deepal Akuretiyagama 

Back row from left: NDB Assistant Vice President Digital Financial Services Damitha Silva, NDB Chairman Eshana De Silva, NDB Senior Vice President Personal Banking and Branch Network Management Sanjaya Perera, NDB Vice President SME, Middle Markets and Business Banking Indika Ranaweera, NDB Vice President, Branch Network Management and Correspondent Banking K.V. Vinoj

This COVID-19 pandemic period is a time when online delivery and minimum contact has been effective and many sellers and small and medium scale business owners are looking for alternate methods to support their businesses. It was during this time that NDB partnered with Daraz to provide SME businesses a method in which to sell their products as a method of relief. Hence, NDB recently signed a Memorandum of Understanding (MoU) with Daraz to jointly provide the Bank’s SME business owners with a platform to sell their wares to the customer without an intermediary between the seller and the customer. 

Accordingly, during the months of May, June, and July, the sellers of Daraz will be provided with special rates for running capital loans as well as a fast track approval process. The Bank will also provide Daraz as a platform to the existing NDB SME clients. Daraz will in turn provide 0% commission extended to all Small Medium Enterprise (SME) customers of NDB, weekly payments for all Non-SME sellers and free Packaging material for all new sellers subscribing during the validity period.

Additionally, from July to December 2020, all NDB female entrepreneurs can enjoy an exclusive partnership with Daraz along with the banking facilities available under Araliya Umbrella including an Araliya Business Loan (for Capital expenditure, Working Capital and for day-to-day operational expenses), Araliya Credit Card, Araliya Current Account, Araliya Savings Account, Araliya Debit Card, Working Capital facilities (**Subject to prevailing credit criteria of the Bank), Preferential interest rates, Insurance Schemes (Life Cover and hospitalisation benefits) as well as Non-financial Services under Araliya Umbrella.

These female entrepreneurs will also have access to Araliya Knowledge Sharing Forums, access to Araliya Mentoring and networking sessions, third-party advisory services (e.g. process of business registration, book keeping, etc.) as well as a special Certification program on Small Business Management.

NDB Bank, which is the first and to date the only corporate in Sri Lanka to officially be certified with EDGE Certification (Economic Dividend for Gender Equality) is a premier retail Bank with over 113 branches across the island, serving millions of Sri Lankans through a host of financial services.  From its inception, the NDB Group which includes NDB Bank, NDB Capital, NDB Investment Banking, NDB Wealth, and NDB Securities has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Customers across all group companies have benefited from the product and service offerings of the NDB Group.