FinTech Summit to steer inclusivity, share knowledge
Sri Lanka’s financial network system can get at least Rs. 450 billion if one-third of the Rs. 1.3 trillion cash in circulation is diverted through digital payments, an official said.
The cash in circulation in the country is high compared to the regional peers, and Rs. 450 billion in the financial system will allow the financial institutions to lend that float for development activities, Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, said on Wednesday at the launch of the FinTech Summit 2025 on Wednesday.
The summit is set to take place in Sri Lanka from September 24 to 25, 2025, to position the country as a leader in the digital economy. This premier digital-finance gathering, organised in collaboration with key government ministries and Hatton National Bank PLC (HNB), aims to facilitate Sri Lanka’s transformation into a technologically advanced nation integrated with digital systems.
Mr. Weeraratne also noted that it is essential that cash circulation is decreased to bring wealth into the financial ecosystem. Highlighting the importance of bringing credit ratings to the digital ledgers that are getting created in the digital payment back ends will allow micro lending to be made more efficiently by adopting digital payments.
The summit will feature over 2,000 participants from more than 25 countries, including around 150 global experts and speakers. It will be structured around six strategic themes: Future of Finance, Global and Regional Trends, Blockchain, AI and Digital Currency, Financial Innovation and Inclusion, Regulatory Compliance, and Investment Start-ups & Ecosystem Growth. The event will include various breakout sessions across multiple venues, catering to a diverse audience that includes FinTech start-up founders, academia, and regulatory bodies.
Channa De Silva, Chairman of the FinTech Forum of Sri Lanka, highlighted the necessity for Sri Lanka to lead in digital finance, establishing transparent regulatory frameworks and international partnerships to achieve universal financial inclusion by 2030.
He pointed out that there were Rs. 1034 million worth of transactions digitally made last year, which is more than the GDP of the country.
The organisers anticipate generating US$500 million in annual foreign direct investment by 2030, contributing to 95 per cent financial inclusion and creating over 200 home-grown FinTech ventures.
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