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Lanka Microfinance Practitioners' Association
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Membership

Home Membership

How to be a member

Terms and Conditions

1.0 In addition to the application form, please submit the following documents:

(a) A copy of the organization’s certificate of Registration as a Charity/Non-Profit./NGO etc..
(b) A copy of the organization’s microfinance license/registration certificate
(c) A copy of the Articles of Association of the organization
(d) Profiles of the Directors of the organization
(e) Copy of the Organizational Structure
(f) Copy of the organizations most recent audited financial statements’
(g) Signed copy of the LMFPA Code of Conduct
(h) Application processing fee of LKR 5,000/

1.1 Upon receiving the above documents, LMFPA will send a representative to the prospective member organization to evaluate before approving its membership. The cost of evaluation is to be borne by the prospective member.

2.0 MEMBERSHIP CATEGORIES

2.1 Ordinary Member

2.1.1 Microfinance Institution registered under Companies Act No. 7 of 2007, Co-operative Societies Law No. 5 of 1972, Society Ordinance No. 16 of 1891, or Voluntary Social Service Organizations Act No. 31 of 1980

2.1.2 Minimum of 75% active borrowers from the total borrowers of 1,000 and over

2.1.3 Core business being Microfinance

2.1.4 At least one year in Microfinance operations

2.2 Associate Member

2.2.1 Banks and other financial institutions

2.2.2 Organizational Service providers

2.2.3 Funding Agencies

2.2.4 Individuals who provide technical services to microfinance

2.2.5 Any organization that doesn’t qualify as an Ordinary Member whose core business is related to
Microfinance

3.0 MEMBERSHIP FEES

A onetime fee of LKR 50,000 shall be made payable at the point of registration (For NGOs LKR 10,000). Thereafter Annual Membership Fees can be in pro rata basis but should be paid in full at the beginning of the Term of Membership. The Annual Membership fees are calculated based on the member organization’s outstanding loan portfolio.

3.1 Ordinary Member& NGO MFIs

3.1.1 Up to LKR 5MLKR 2,500
3.1.2 Between LKR 5M & 15M LKR 5,000
3.13 Between LKR 15M & 30MLKR 7,500
3.1.4 Between LKR 30M & 50MLKR 10,000
3.1.5 Between LKR 50M & 100MLKR 15,000
3.1.6 Between LKR 100M& 200M LKR 20,000
3.1.7 Between LKR 200M & 500MLKR 30,000
3.1.8 Between LKR 500M & 1BnLKR 40,000
3.1.9 Above LKR 1BnLKR 50,000
3.2 Associate Member

3.2.1 Organizational service providersLKR 15,000
3.2.2 Banks, Financial Institutions, Funding Agencies and DonorsLKR 50,000
4.0 PAYMENT OF MEMBERSHIP FEES

Membership fees can be paid either through cash or crossed cheque in favour of “Lanka Mircofinance Practitioners’ Association”. If payment is made directly to the Association’s bank account a copy of the deposit slip
shall be submitted to the Association via email (pdf format), fax or post mail. For your guidance, the LMFPA Secretariat will send a billing statement one month before the due date of your Term of Membership.

5.0 ACCOUNT DETAILS

Account:  Lanka Microfinance Practitioners’ Association
Acct No.: 1190023870
Bank:       Commercial Bank of Ceylon PLC

6.0 SUBMISSION OF MEMBER PROFILE DATA

6.1 All LMFPA MFI Members are obliged to take part in the annual Data collection survey conducted by LMFPA and provide required information sent by LMFPA.

6.2 The information will be processed by LMFPA for their annual member profile publishing and Website posting for potential investors’ reference and hopefully match LMFPA MFI Members to interested parties.

7.0 SERVICES PROVIDED FOR MEMBERS

7.1 Technical Assistance such as Trainings, workshops, Exposure visits, scholarships etc (depending on the need
and availability of resources)

7.2 Lobbying for the common interests of the members and policy changes in the sector

7.3 Information sharing & transparency
7.4 Infrastructure Development for Meso Level (Eg: Accounting standards, MIS etc

7.5 Liaison with local and foreign stakeholders in the sector, international networks and organizations for local
sector development

7.6 Publication and visibility for members through electronic and print media

7.7 Facilitation for financial intermediation

8.0 TERMINATION OF MEMBERSHIP

8.1 In the event that a LMFPA Member wishes to express its intention to discontinue their membership with LMFPA Network, a formal letter of notification for termination of membership should be sent to the LMFPA Coordinator as soon as possible.

8.2 Failure to do so will still make the entity to be accountable to pay the Annual Membership Fee even for the preceding years as they will still be recognized officially as part of the Network.

8.3 Members may be removed from the LMFPA Network by the Board of Management if:

8.3.1 They are not adequately participating in LMFPA Network activities (including, but not limited to reporting as required on microfinance activities);

8.3.2 They have not paid their annual fee for the last two years

8.3.3 The member organization no longer meets LMFPA Network membership criteria

8.3.4 The governance of the organization bringing disrepute to the microfinance sector

Application (English)
Application (Sinhala)
Code of Conduct

Lanka Microfinance Practitioners’ Association

LMPA is the pioneer in microfinance networking among microfinance practitioners in Sri Lanka, and was initiated on the 31st of March 2006. The Lanka Microfinance Practitioners’ Association is incorporated as a non-profit organization under the Companies Act No. 7 of 2007.

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Contacts

Lanka Microfinance Practitioners' Association
No. 32, Suriyamal Mawatha, Divulapitiya,
Boralesgamuwa,
Sri Lanka
+94 11 4369612
+94 11 2099511
info.lmfpa@microfinance.lk
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