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Lak Jaya
Micro Finance Company

Since 2002 | Sri Lanka

Lak Jaya Micro Finance Limited is a public limited liability company established under the Companies Act, 2007. It started operations on 8th March, 2002 on the basis of group guarantee with the objective of providing credit facilities to the economically active poor, the entrepreneurial poor and the vulnerable non-poor who cannot access credit from formal sources of finance. In 2006, it adopted the ASA methodology based on individual liability and sought technical support from ASA-International Bangladesh for implementing this methodology. ASA methodology originated in Bangladesh has the reputation for its cost effectiveness and scalability, standardization, and transparency which turns it into one of the most successful models of microfinance in the world.

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The Company was opened for foreign investment in its shares in 2007 with a view to expanding its capital base. Catalyst Microfinance Investors (CMI), a leading international investor in microfinance business in the world, invested in Lak Jaya shares through a locally incorporated company called C.M.I. Lanka Holding (Private) Ltd. (“CMI Lanka”) after obtaining legal advice from one of a leading law firms in Sri Lanka. The injection of new funds and the adoption of ASA methodology augured well with increased number of branches from 6 to 46 within a period of little over one year.

By the end of June, 2016 there were 38,291 clients in 40 branches operated in 12 districts with a gross outstanding loan portfolio of Rs.924 million. There were 111 loan officers and 271 total staff. Lak Jaya is set to reach out to a moderate but steady growth and by the end of 2020 and plans to reach over 75,000 clients with 60 branches. The short term goals of Lak Jaya are to improve the quality of the management, the outreach of the existing branch network, and to enhance the loan portfolio by developing a good client base in accordance with its objectives.

Our Vision

To be the largest provider of financial services to the un-bankable and the Financially oppressed

Our Mission

To provide credit facilities to the economically active poor, the entrepreneurial poor, and the vulnerable non-poor who cannot access credit from formal sources of finance due to lack of collateral, track record and their inability to provide requested documents.

Board of Directors

Mr. Dirk Brouwer

Mr. Enamul Haque

Mr. Azim Hossain

Mr. D A DE S Wickremanayake

Mr. M M Attanayake

Company Profile

Company Secretary

Corporate Services ( Private ) Limited
No.216, De Saram Place,
Colombo 10,
Sri Lanka.
Tel. +94 114718200

 

Solicitors

FJ & G De Saram
No.216, De Saram Place,
Colombo 10,
Sri Lanka.

 

Auditors

Ernst & Young
Chartered Accountants
No.201, De Saram Place,
Colombo 10,
Sri Lanka.
Tel. +94 112463500
Fax. +94 112697369

Principal Bankers

 - People’s Bank
 - Commercial Bank
 - Nation Trust Bank
 - NDB Bank ( National Development Bank)

Donors/Funders

 - CMI Lanka Holdings
 - Etimos
 - Cordaid
 - Blue Orchard