NSB Annual Report among the world's best

The National Savings Bank of Sri Lanka (NSB) Annual Report for 2008 won a coveted grand award in addition to 3 Gold awards and a Bronze award at the recent International ARC Awards held in New York.

NSB put Sri Lanka on the global corporate map at the gala awards presentation attended by top executives of some of the foremost companies in the world including the Fortune 500s and the FTSE 100s.

The ARC Awards are popularly referred to as the Oscars of Annual Reports. They are the most sought after awards for annual reports. Held for the 23rd year, this year ARC attracted 1,800 entries from around the world.

Only the top 25% of the highest scoring annual reports become eligible for any award.

Gold and Silver Awards are not automatic in every category unless the contenders meet the required standard.

The best of the Gold Awards are nominated for Grand Awards which represent the best-of-the-best from around the world.

NSB's General Manager/CEO, Sunil Perera and Additional General Manager, Hennayake Bandara received the awards on behalf of the Bank. Dr. Vijith Kannangara, Chairman of Smart Media - The Annual Report Company, was also present.

Master of Ceremonies Charles Payne of FOX Business Network was at hand to present the top awards. In his keynote address, Payne pointed out that more than any other time in history, today companies need to make them better understood.

And the annual report remains the prime tool for doing so in a timely, consistent, transparent and credible manner.

ARC Awards has been established to honour outstanding annual reports. The panel of judges consists of distinguished personalities from the communications and financial analyst industries mainly from North America, Continental Europe and UK.Commenting on the award, NSB's Additional General Manager, Hennayake Bandara said that 'it is not possible to develop an annual report to such a high international standard in a single year.

We have been working on improving the overall standard of the annual report over the years.

The Institute of Chartered Accountants of Sri Lanka's competition for the Best Annual Report was our starting point and gave our report a very good foundation. After winning in this local competition, our report became the first report of a public sector organization in South Asia to win a "Best Annual Report Award" in the category of public sector, in the regional competition organized by South Asian Federation of Accountants (SAFA).

Sri Lankan tourism has tremendous potential

The Sri Lankan tourism industry has tremendous potential to grow further with the dawn of peace. The opening up of the North and the East has brought positive hopes to the Sri Lankan tourism as two-thirds of the coastline, which was formerly under the control of terrorists, has been liberated making it accessible to tourists.

"It is essential for Sri Lanka to promote tourism with professionally designed awareness programs to penetrate the market. During the past three decades, the travel advisories of several western countries gave a negative picture of the country and since peace has been established, it is important to spread awareness among the travellers to the effect that the country is now free of terror and safe to travel," a Senior Travel Consultant, Rob Murrer told.

He said Sri Lanka is a beautiful country with a very rich culture and a historical background. There are many places of interest for travellers to explore. Another plus factor is that the travellers have the opportunity to enjoy the hot and cold climates with the minimum of travel and waste of time. This country is a paradise where travellers would love to spend their holidays, but the tourist industry needs strong marketing programs to promote tourism. Participating in international exhibitions, distribution of professionally designed brochures, approaching multinational companies, leading travel agencies and chambers, holding road shows and e-commerce is essential to promote Sri Lankan tourism, he said.

He said that there should be a target market to approach. There was a tremendous market from Germany, the United Kingdom, the Middle East and Japan.

As a start, Sri Lanka could focus on these markets and gradually the country would be able to capture the other markets. A lot of tourists visit the country to enjoy nature and the tranquil beaches, as they need to relax because of their busy lifestyles. With the opening of the North and the East to tourism, the Sri Lanka Tourism Promotion Bureau has to play a vital role to promote tourism industry by introducing activities such as surfing, wildlife safaris, eco-tourism, snorkelling and adventure, Murrer said.

Another Tourism Consultant Ans Peeters said there are various sectors that could be easily promoted through and Ayurvedic medicine is one of them as it has a great demand from the tourists. Sri Lanka could also enter the market by becoming a paradise for shoppers, as there is high demand for Sri Lankan apparel all over the world.

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