NDB enters into landmark agreement with iLoan Lanka | Sunday Observer

NDB enters into landmark agreement with iLoan Lanka

20 September, 2020
From left: Dilip Samanthilaka, Senior Director Alpen Capital,     Thushani Hewavitharana, Relationship Manager NDB, Fazley Azhar, Chairman, Indika Ranaweera,- Vice President, SME, Middle Markets and Business Banking NDB, Dimantha Seneviratne, Director and Group Chief Executive Officer NDB, Roshan Weerasinghe, Director iLoan, Shamraz Shamsudeen, COO ILoan, Indika Kudagamage, AVP Business Banking, SME, Micro Finance and Liabilities NDB, Shanka Abeywardene, Assistant Vice President, Corporate Planning and Business Intelligence NDB, Sydney Downhall, Regional Manager, Colombo Region NDB.

NDB has teamed up with iLoan Lanka (Pvt) Limited to provide SMEs with better access to trade finance, by providing trade credit to the underbanked and unbanked micro, Small and Medium Enterprises (mSME) in their trade with the distributors of large manufacturers in Sri Lanka. 

In an era where Fintech’s are more focused on disrupting the way banks operate, iLoan is a unique Business to Business Fintech that focuses on disrupting the way lending happens by providing a Verified and Secured Trade Credit Network for Banks to channel their trade based credit offerings. 

The Asian Development Bank (ADB) has identified the urgent need to find solutions to the increasingly widening trade credit gap which is over US$ 600 billion in Asia alone.