ComBank LEAP GlobalLinker partners IDB to support SMEs

Tuesday, 6 February 2024 00:54 -     - {{hitsCtrl.values.hits}}

Commercial Bank Managing Director/CEO Sanath Manatunge and Chief Operating Officer S. Prabagar participate in the signing of the MoU with IDB Chairman Dr. Saranga Alahapperuma and Board Member P.L.U. Rathnamalala in the presence of members of the corporate management of the bank and officials of the two institutions, while DigiVation CEO Sameer Vakil joined the event virtually


The Commercial Bank of Ceylon has launched a new initiative to support small and medium-sized enterprises (SMEs) via a partnership with the Industrial Development Board (IDB), the premier state organisation entrusted with the progress of the industrial sector in Sri Lanka.

The partnership will provide stakeholders of the IDB access to ‘Commercial Bank LEAP GlobalLinker’ – the Bank’s digital platform designed to empower SMEs to reach cross-border levels in the global market – from the ‘BizConnect‘ portal on the IDB’s website.

A memorandum of understanding (MoU) was signed digitally by Commercial Bank Managing Director/CEO Sanath Manatunge, IDB Chairman Dr. Saranga Alahapperuma, IDB Board Member P. L. U. Rathnamalala and the CEO of DigiVation Limited Sameer Vakil, to create a framework for Commercial Bank to provide services from the Commercial Bank LEAP GlobalLinker platform to any visitor to the IDB website, and for the IDB to publish articles and industry-related documents on the platform to offer additional knowledge to its users.

The Bank said this direct link on the IDB website will enable the Bank to recognise those who are re-directed from it and to offer services, accordingly, enhancing their experience and increasing the customer reach and visibility of Commercial Bank LEAP GlobalLinker.

This is a first-of-its-kind initiative by a bank in Sri Lanka, the Bank added.

Designed as an ecosystem that creates networking prospects across borders and within the country, ‘Commercial Bank LEAP GlobalLinker’ was developed with support from the International Finance Corporation (IFC). It is a comprehensive business ecosystem that focuses on elevating businesses through digitising enterprises.

Built in compliance with international standards and powered by GlobalLinker, an international business enabling platform, Commercial Bank LEAP GlobalLinker enables SMEs and the Bank’s corporate customers to create online stores for free to sell their products and services, expand their network of customers, investors, and suppliers from across the world, improve business networking, tap overseas markets, access exclusive offers and benefits from partners, attract feasible business opportunities, and get discovered by a wider audience. As it is a secure platform for communication, it is also feasible for sharing ideas, collaborations and learning.

Developed as a sustainable business model, Commercial Bank LEAP GlobalLinker also offers a range of business services, such as legal, financial, marketing, logistics and shipping services, and provides businesses with access to various business intelligence tools. These tools provide valuable insights by enabling entrepreneurs to analyse their performance, track their sales and marketing activities, and monitor their online reputation.