Press briefing of Cabinet Decision taken on 2023-03-27

Conversion of National School of Business Management Limited (NSBM) to a Company Limited by Guarantee

- National School of Business Management Limited has been established as a subsidiary of the National Institute of Business Management established under the provisions of the National Institute of Business Management Law No.23 of 1976. The said institute which has been established as a state-of-the-art University in Homagama, presently functions as an institute which offer Degrees and Post Graduate Degrees. Currently, more than 11,500 students have been given the opportunity to study more than 50 degree courses under 05 faculties in that institution. It has been found that by adopting a model equivalent to the models that of the world‑renowned educational institutions in the world, it will be possible to maintain the functions of the NSBM in a more effective manner and in accordance with international standards. Accordingly, the proposal made by the Minister of Education to take future measures required to convert the registration status of the National School of Business Management into a company Limited by Guarantee in terms of section 32 of the Companies Act, No.07 of 2007, was approved by the Cabinet.