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The purpose of this study is to determine the target groups and areas for interventions carried out by ProMiS. The study provides a background to decide whether proposals submitted to ProMiS reach the target areas and the target group as defined by ProMiS. It hence ensures that ProMiS reaches one aspect of its overall goal of reaching marginalised sections of the population through selected microfinance institutions as well as providers of training and advisory services. |
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This report provides the professional legal opinion of FJ & G de Saram ,Attorneys-at-Law, regarding the practice of deposit taking by the various type of Microfinance Institutions in Sri Lanka. The report contains a comprehensive analysis of whether the Central Bank of Sri Lanka (CBSL) and other Government institutions directly or indirectly brought legal recognition to savings operations by various type of Microfinance Institutions. In addition, the report addresses the issue of whether the fundamental right of equality before law is violated, if the CBSL now takes any action to prevent the MFIs, NGO s and CBOs accepting deposits, while allowing the deposit taking microfinance programs of the Government such as Samurdhi, Women’s Bureau Gemidiriya etc…to continue without being regulated or supervised by the CBSL. Finally, the report provides a comprehensive list of recommendations to regulators, policy makers and the Lanka Micro Finance Practitioners Association (LMFPA) on possible practical solutions and remedial measures that need to be taken to rectify the gray areas with regard to deposit taking activity of MFIs. |
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This Brochure is an attempt to provide a common understanding of the principles of microfinance endorsed by the Consultative Group to Assist the Poor (CGAP). A voice for practitioners and promoters from the sector who explain how these principles can be seen in the local, regional and international contexts. A picture of the Sri Lankan microfinance sector, which is on the threshold of a major transformation. Many factors contribute to the fact that microfinance in Sri Lanka is now highly debated in public. Many actors provide financial services for the poor for various different reasons and with different methodologies. This brochure will help to understand the sector and to define a set of criteria which are necessary for a sustainable microfinance sector that can help poor people to get out of poverty. |
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This report provides a comprehensive review of the existing legislation related to the Sri Lankan Microfinance sector. The study was done by the reputed law firm FJ & G de Saram, with financial support from GTZ – ProMiS. Lanka Microfinance Practitioners Association (LMFPA) initiated and facilitated the assignment. The main objectives of the study are to review existing laws & regulations and analyse their implications for the development of the Sri Lankan Microfinance sector and to review ongoing legislative proposals (e.g. the Microfinance Bill) that have potential impact on the sector. The report further contains a comprehensive list of recommendations on how the legal environment in Sri Lanka can be made more microfinance-friendly. Based on these recommendations practitioners can formulate proposals to alleviate constraints and facilitate microfinance activities to spur the economic development of the country. Sinhala and Tamil translations of the document will be available shortly. |
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For many in the Microfinance industry, while financial growth and sustainability is important, it is equally important that poor and very poor people are reached, that quality services are provided, and that microfinance eventually improves client lives. In other words, both financial performance and social performance matter. This is especially true for some donors and social investors who explicitly aim for broader social objectives. This Technical Note will draw light on the experiences and challenges faced in the implementation of the Social Performance Monitoring pilot in Sri Lanka. |
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The microfinance sector in Sri Lanka consists of a diverse range of institutions which do not fall under the purview of a single authority and there is currently no single and up- to-date database on these institutions. In order to obtain a comprehensive picture of microfinance institutions (MFIs) in Sri Lanka by identifying all institutions engaged in microfinance activities at a significant level, a countrywide survey was commissioned by GTZ-ProMiS. The survey covered microfinance providers of various institutional types, from the Samurdhi Banks, Cooperative Rural Banks and Thrift and Credit Cooperatives to the Regional Development Banks and other institutions from the ‘formal’ financial sector who have ventured into microfinance. The survey also covered the rapidly growing NGO-MFIs some of which have grown very rapidly in the past decade. The results of the survey indicate that although the outreach of microfinance services in Sri Lanka is considerable, this is especially so with regard to savings and deposit products. Access to credit remains below its potential and barriers still exist for the lower income groups. Further, the market seems to be characterized by a proliferation of traditional financial products (savings, loans) with few products and services beyond these (e.g. insurance, money transfer services). The growth of the sector is hampered by the lack of a coherent regulatory and supervisory framework, governance issues, lack of technology and issues related to the availability of suitable human resources. |
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This report was prepared by GTZ ProMiS in collaboration with the Banking With The Poor Network. It seeks to provide a broad overview of the sector covering all aspects from the supply of and demand for microfinance to regulatory and policy issues, donor support for the sector, meso level support and key challenges faced by the sector. |
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This report was prepared by GTZ ProMiS in collaboration with the Banking With The Poor Network. It seeks to provide a broad overview of the sector covering all aspects from the supply of and demand for microfinance to regulatory and policy issues, donor support for the sector, meso level support and key challenges faced by the sector. |
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This PROMIS Microfinance Technical Note summarizes the key features of the Finance Companies Act No 78 of 1988 (amended by Act No 23 of 1991) |
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This report was prepared by GTZ ProMiS in collaboration with the Banking With The Poor Network. It seeks to provide a broad overview of the sector covering all aspects from the supply of and demand for microfinance to regulatory and policy issues, donor support for the sector, meso level support and key challenges faced by the sector. |
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The members of the Donor Microfinance Network in Sri Lanka have been interested in evaluating the impact of the Tsunami aid influx, with special reference to the MF sector and thus commissioned a study; ProMiS (GTZ) was assigned with coordination of the study. The donors who supported the study include Oxfam NOVIB, Stromme Foundation, Plan Sri Lanka GTZ, World Bank and ADB. The objective of the study is to identify, analyze and evaluate the different donor1 microfinance pro-grams that were established/supported as an immediate response to the Tsunami and the impact of those programs on MFIs and their clients and spillover effects on the MF sector in general. As a second focus, the study provides an evaluation of the impact of the donor programs from the perspective of the clients whom they intended to reach. This information is to provide valuable insight in case of disasters else-where and can help the Sri Lankan MF sector to mitigate shortcomings and establish/re-establish good practices. |
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As an international cooperation enterprise sustainable development with worldwide operations, the federally owned Deutsche Gesellschaft fur Technische Zusammenarbeit (GTZ) GmbH supports the German Government in achieving its development-policy objectives. It provides viable, forward looking solutions for political, economic, ecological and social development in a globalised world. Working under difficult conditions, GTZ promotes complex reforms and change processes. Its corporate objective is to improve people's living conditions on a sustainable basis. |
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Evidence from the millions of microfinance clients around the world demonstrates that access to financial services enables poor people to increase their household incomes, build assets, and reduce their vulnerability to the crises that are so much a part of their daily lives. Access to financial services also translates into better nutrition and improved health outcomes, such as higher immunization rates. It allows poor people to plan for their future and send more of their children to school for longer. It has made women clients more confident and assertive and thus better able to confront gender inequities.* ProMiS has researched more than sixty such persons and families island wide over a period of two years. The findings were overwhelming and moving. Twenty-one of the most compelling stories have been documented, vividly demonstrating how microfinance has added value to the lives of these people, providing them with assistance that would see them through well into the future . .....more * Littlefield / Jonathan / Hashemi. 2003. Is Microfinance an Effective Strategy 3 to reach the Millennium Development Goals? |
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In the aftermath of the 2004 Tsunami hopes loomed high that the conflict between the Liberation Tigers of Tamil Eelam (LTTE) and the Government of Sri Lanka (GoSL) which had been going on already for two decades could be finally solved with the unprecedented concern and support of the International Community. But unlike in Indonesia, the conflict in Sri Lanka has worsened, culminating into open war since August 2006. Therefore, the situation in Sri Lanka can be best described as one of “in and out of conflict. Microfinance providers in the North and East of Sri Lanka face conflict-related higher risks and higher operational costs than MFIs in other parts of the country. Especially in the North and in the uncleared areas repayment rates are worsening. The East and the neighboring districts to the North however, face less operational problems despite heavy fighting in the East. Nevertheless, operational problems caused by hartals and the virtual non-existence of training facilities are immanent to the entire North and the East. |
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The goals of this sector study are to: •Analyse the status quo for low income people in the insurance sector, and to give an inventory of all relevant bodies including government, private insurance companies, NGOs, and MFIs •Present the activities of donors in the insurance sector •Identify entry points for German Development Cooperation |
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Authors: Richard Gant, Dulan de Silva, Anura Atapattu, Steve Durrant Cosponsored by AusAID and GTZ June 2002 |
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Authors: Richard Gant, Dulan de Silva, Anura Atapattu, Steve Durrant Cosponsored by AusAID and GTZ March 2005 |
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Authors: Richard Gant, Dulan de Silva, Anura Atapattu, Steve Durrant Cosponsored by AusAID and GTZ June 2002 |
