Fintech Association of Sri Lanka

Last updated

Fintech Association of Sri Lanka
Founded2018
TypeNon-Governmental Organisation
Focus Fintech
Location
Area served
Sri Lanka and wider Asia (by collaborations)
Key people
Rajkumar Kanagasingam, President
Suranga Mendis, Vice President
Rifas Raseek, General Secretary
Website www.srilankafintech.org
Fintech Association of Sri Lanka (FASL) booth at Singapore FinTech Festival 2022 FASL Booth at SFF 2022.jpg
Fintech Association of Sri Lanka (FASL) booth at Singapore FinTech Festival 2022

FinTech Association of Sri Lanka (FASL) is an independent, not-for-profit organization representing the fintech community in Sri Lanka and fostering connections with the global fintech sector. [1] [2] [3] [4] [5]

Contents

FASL is closely collaborating with the Central Bank of Sri Lanka (CBSL) on fintech-related issues; and a number of fintech events related to FASL were represented by CBSL. [6] [7] [8] [9]

History

Establishing ‘Fintech Association of Sri Lanka’ was initiated at the ‘Fintech Meetup’ of the ‘Asia-Pacific Executives Forum’ which was held at Hilton Colombo in 2018; where the Central Bank of Sri Lanka Assistant Governor also participated and delivered a speech on regulatory role of Central Bank on Fintech. [10] [11]

Governance

FASL is governed by an executive committee that consists of a president, vice president, general secretary and other committee members. The executive committee is advised by an advisory board consisting of industry experts. [12]

Collaborations

International partnerships

The Fintech Association of Sri Lanka (FASL) has established formal partnerships with regional and international fintech associations as part of its cross-border engagement strategy. These include memoranda of understanding with counterpart organisations in Singapore, Hong Kong, Japan, the Philippines, and Indonesia, as well as participation in the ASEAN Financial Innovation Network. These partnerships are aimed at facilitating ecosystem collaboration, knowledge exchange, and market access for fintech stakeholders. [13] [14]

FASL is also an ecosystem partner of the Dubai International Financial Centre (DIFC) Innovation Hub and Elevandi, an independent organisation created by the Monetary Authority of Singapore, supporting regional fintech connectivity and policy dialogue across Asia and the Middle East. [15]

Events

FASL has participated as a community partner, supporter institution, or regional co-organiser in a range of fintech conferences and summits across Asia and the Middle East. These have included major industry platforms such as the Singapore FinTech Festival, Hong Kong FinTech Week, and regional fintech summits held in cities including Shanghai, Singapore, Hong Kong, Mumbai, Dubai, and Colombo. [16] [17]

In April 2025, the FinTech Association of Sri Lanka (FASL), in partnership with Port City Colombo, hosted the Regional Competition of the FinTech World Cup at Port City Colombo. Fintech World Cup at Port City Colombo.jpg
In April 2025, the FinTech Association of Sri Lanka (FASL), in partnership with Port City Colombo, hosted the Regional Competition of the FinTech World Cup at Port City Colombo.

In April 2025, FASL hosted the Sri Lankan round of the FinTech World Cup at Port City Colombo as part of its role as an association partner of the Dubai FinTech Summit 2025, supporting local startups’ participation in the global competition. The event brought together startups, investors, and ecosystem stakeholders from South Asia and neighbouring regions. [18] [19] [20]

In October 2025, FASL co-organised the Asian Digital Finance Forum & Awards with the Asian FinTech Academy (AFTA) at Port City Colombo, contributing to regional dialogue on digital finance, artificial intelligence, and innovation as part of the Asia International Digital Economy & AI in Finance Summit. [21] [22]

Education and training

FASL has undertaken education and professional development initiatives aimed at building fintech capacity in Sri Lanka. Since 2019, the association has organised regular fintech workshops, introductory programmes, and professional certification courses in collaboration with academic and industry partners, targeting professionals, students, and policymakers. [23] [24] [25] [26]

The association has collaborated with the University of Hong Kong through its HKU FinTech initiative in delivering seminars and public discussions on fintech-related topics, including blockchain applications, security token offerings, and financial innovation frameworks in Asia. [27] [28] [29]

In December 2021, FASL organised a Lithuanian fintech meetup in Colombo in collaboration with the Lithuanian Embassy in New Delhi and Hatch, a Sri Lanka–based fintech accelerator, as part of its international ecosystem engagement activities. [30]

In July 2024, FASL conducted an introductory lecture on artificial intelligence at Little Flower Convent in Karampon, Jaffna, with resource support from HKU FinTech and Elevandi. The initiative aligned with Sri Lanka’s national efforts to integrate artificial intelligence and machine learning into the school curriculum. [31]

Policy initiatives

In October 2023, FASL initiated the preparation of a report titled Enhancing Colombo International Financial City (Port City Colombo) as a Leading Fintech Hub in South Asia, intended for submission to the President of Sri Lanka. The initiative was supported by international fintech experts and led by Professor Douglas W. Arner of the University of Hong Kong as chief consultant. [32]

An interim report released in July 2024 proposed the establishment of a Fintech Innovation Hub within the Colombo International Financial Centre, envisaged as a regional platform for innovation, investment, and cross-border collaboration. Subsequent coverage in 2025 highlighted Port City Colombo’s positioning as a potential fintech hub for South Asia and reiterated the role of the proposed innovation hub in attracting regional startups and investment, in collaboration with the DIFC Innovation Hub and the Singapore fintech ecosystem. [15] [33] [34]

References

  1. ↑ "Lanka to host 'Asia Fintech Night' in Dec". Daily News (Sri Lanka) . 7 July 2020. Retrieved 22 February 2023.
  2. ↑ "Sri Lanka:CBSL to Introduce Fintech Regulatory Framework". Regulation Asia. 6 October 2020. Retrieved 22 February 2023.
  3. ↑ "【Global Partnership】Fintech Association of Japan concluded a Memorandum of Understanding (MOU) with FinTech Association of Sri Lanka". Fintech Association of Japan. 7 October 2019. Retrieved 22 February 2023.
  4. ↑ "University of Hong Kong and Standard Chartered Bank launch HKU-SCF FinTech Academy". Daily FT . 26 May 2020. Retrieved 22 February 2023.
  5. ↑ "FinTech Association of Sri Lanka". Centre for Finance, Technology and Entrepreneurship. Retrieved 22 February 2023.
  6. ↑ "Fintech Association of Sri Lanka holds awareness workshop". Daily FT . 24 January 2019. Retrieved 24 February 2023.
  7. ↑ "Promoting fintech". Daily FT . 7 May 2019. Retrieved 24 February 2023.
  8. ↑ "FASL and SFA sign MOU in Singapore". Daily FT . 26 April 2019. Retrieved 24 February 2023.
  9. ↑ "'Chain Plus: Asia-Pacific Blockchain New Finance Summit' held in Singapore". Daily FT . 24 April 2019. Retrieved 24 February 2023.
  10. ↑ "Fintech Meetup of Asia-Pacific Executives Forum held at Hilton Colombo". Daily FT . 10 August 2018. Retrieved 24 February 2023.
  11. ↑ "Fintech Meetup of the Asia-Pacific Executives Forum held". Daily News (Sri Lanka) . 31 July 2018. Retrieved 24 February 2023.
  12. ↑ "FASL". Fintech Association of Sri Lanka. Retrieved 22 February 2023.
  13. ↑ "FASL and FTAHK signs MOU in Hong Kong". Daily FT . 25 June 2019. Retrieved 22 February 2023.
  14. ↑ "FASL and AFTECH sign MoU in Colombo to promote fintech". Daily FT . 25 March 2020. Retrieved 13 April 2024.
  15. 1 2 "Interim report on Colombo Intl. Financial City as top Fintech hub". Daily FT . 2 July 2024. Retrieved 4 July 2024.
  16. ↑ "FinX Awards 2019 a success". Daily FT . 9 October 2019. Retrieved 24 February 2023.
  17. ↑ "Hong Kong Fintech Week to begin on November 4". Daily Mirror (Sri Lanka) . 17 October 2019. Retrieved 24 February 2023.
  18. ↑ "Sri Lanka to host FinTech World Cup Regional Competition at Port City Colombo". Daily FT. 1 April 2025. Retrieved 24 February 2025.
  19. ↑ "FinTech World Cup regional competition held at Port City Colombo". Daily FT. 25 April 2025. Retrieved 24 February 2025.
  20. ↑ "Regional startups shine as FinTech World Cup lands in Port City Colombo". Daily Mirror. 24 April 2025. Retrieved 24 February 2025.
  21. ↑ "Asian Digital Finance Forum & Awards 2025 convenes at Port City Colombo". Daily FT. 4 November 2025. Retrieved 24 February 2025.
  22. ↑ "Asian Digital Finance Forum and Awards 2025 held at Port City Colombo". Daily Mirror. 31 October 2025. Retrieved 24 February 2025.
  23. ↑ "Fintech Association of Sri Lanka holds awareness workshop". Daily FT . 24 January 2019. Retrieved 9 December 2025.
  24. ↑ "FASL conducts 'Professional Certificate in Fintech and Blockchain'". The Daily Mirror (Sri Lanka) via PressReader . 4 November 2019. Retrieved 22 February 2023.
  25. ↑ "FASL conducts 'Professional Certificate in Fintech and Blockchain'". Daily FT . 5 November 2019. Retrieved 22 February 2023.
  26. ↑ "FASL completes fourth batch of 'Introduction to Fintech'". Daily FT . 29 July 2019. Retrieved 22 February 2023.
  27. ↑ "HKU host seminar on STO and RET". Daily News (Sri Lanka) . 27 June 2019. Retrieved 22 February 2023.
  28. ↑ "Hong Kong seminar focuses on STO landscapes in HK, Singapore and Sri Lanka". The Daily Mirror (Sri Lanka) via PressReader . 8 July 2019. Retrieved 22 February 2023.
  29. ↑ "Real Estate Tokenization - Challenges and Opportunities in Hong Kong". University of Hong Kong . 21 June 2019. Retrieved 22 February 2023.
  30. ↑ "Lithuanian fintech meetup in Colombo". Daily FT . 21 December 2021. Retrieved 22 February 2023.
  31. ↑ "Students of Karampon Little Flower Convent, Jaffna get introduction to AI". Daily FT . 23 July 2024. Retrieved 30 July 2024.
  32. ↑ "Colombo Int'l Financial City as top fintech hub - FASL". Daily News (Sri Lanka) . 9 October 2023. Retrieved 24 October 2023.
  33. ↑ "Port City Colombo wooed to be South Asia's leading fintech hub". Daily FT . 25 April 2025. Retrieved 8 December 2025.
  34. ↑ "Port City Colombo uniquely positioned to become fintech capital of South Asia". Daily Mirror (Sri Lanka) . 26 April 2025. Retrieved 8 December 2025.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.