The strategic human resource management (SHRM) practices at Dialog Axiata PLC

Introduction 

financial inter-mediation

The role of financial intermediaries is to channel funds from lenders to borrowers by intermediating.

The main role of the banking sector is financial inter-mediation. For that purpose, many banks have established under the banking act NO. 30 of 1988. Sri Lanka has a fairly well-diversified banking system, which includes,
• The Central Bank of Sri Lanka (CBSL)
• Bank of Ceylon
• People’s Bank 
As well as private domestic commercial banks, thirteen foreign banks, a national savings bank, a regional development bank, two housing banks, and three licensed specialized banks.

  Citibank N.A. is the only U.S. bank operating in Sri Lanka.The Central Bank is responsible for regulation and supervision of Sri Lanka's banking system.
Financial intermediaries are firm which facilitate many services to lenders borrowers. Those firms have following characteristics,

1. They borrow from one group of agents and lend to another group of agents. 
2. The borrowing and lending groups are large, suggesting diversification on each side of the 
balance sheet. 
3. The claims issued to borrowers and to lenders have different state contingent payoffs.

Development of The Banking system in Sri Lanka.

During the British colony (1802-1948) that Banking was introduced to Sri Lanka with mainly branches of foreign banks being set up.The Central bank of Sri Lanka was established in 1950 under the Monitory law act No.58 of 1949 which was a major milestone in Sri Lanka’s economic history.

Technical expertise to establish a central bank was sought from the United States of America (USA) in July 1948, with Mr. John Exter, an American economist from the Federal Reserve of USA being appointed to carry out this task. 

currently, they regulate and supervise the banking and financial system with two objectives,

     01.Maintaining the Economic and price stability.

     02.maintaining the financial system stability.

First establishment

 The first established bank in Sri Lanka is the Bank Of Ceylon (BOC).Bank of  Ceylon (BoC) was founded in 1939, with sir Eanest De Silva as its first chairman. At the time, Ceylon was a British colony and the then governor Sir Andrew ceremoniously opened the bank on 1 August. At the present, the bank is operating in many countries in the world.