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About Lak Jaya Micro Finance

Lak Jaya Micro Finance Limited was established in the year 2002, a public limited liability company under the company’s Act 7 of 2007 of Sri Lanka. Originally this company followed the Grameen model of Bangladesh. In the year 2006 CMI invested in shares of Lak Jaya through its holding company called CMI Lanka Holdings Pvt Limited. And ASA International N.V., a public limited liability company incorporated under the laws of the Netherlands (ASA International) was given the task of supervising the management of Lak Jaya by CMI. C.M.I. Lanka Holding (Private) Limited (CMI Lanka) a holding company of CMI, a Limited Liability Company incorporated under the laws of Sri Lanka owns 97% of the shares of Lak Jaya.

As mentioned above in 2006 Lak Jaya has adopted the ASA model of microfinance as developed by ASA of Bangladesh. The ASA model of Microfinance is well known for the cost- effective operating procedures, scalability, standardization, and transparency, which turns it into one of the most successful models in terms of outreach and operational costs. . Currently ASA has over 7 million clients and well over 3,500 branches in Bangladesh. ASA of Bangladesh is widely recognized as the world’s most successful microfinance institution having been ranked as the world’s Number One microfinance institution by Forbes Magazine in 2008 and having been awarded the Financial Times Sustainable Banking ward for Banking at the Bottom of the Pyramid in 2008.

Lak Jaya has shown a steep growth in its operations following the investment of CMI Lanka in March 2007 and adopting the ASA Model, growing from 8 in 2007 to 36 branches by end 2015. By the end of 2015 it had 38,552 with a gross outstanding loan portfolio of Rs.873 million. There were 113loan officers and 258 total staff. Lak Jaya is set to reach out to a moderate but steady growth and by the end of the 5 year period in 2020 to reach over 75,000 clients with 60 branches provided the required funds are available and the operations can be carried out uninterrupted. A moderate growth is assumed due to the difficulties faced by the micro finance sector in Sri Lanka in general in raising the necessary funds locally as well as internationally. 

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. As a result, Lak Jaya estimates to reach over 75,000 clients with a total outstanding loan portfolio of over Rs. 1 billion through a network of 60 branches by the end of the plan period. Currently, Lak Jaya presently has 36 branches in the districts of Colombo, Puttalam, Matara, Kalutara, Gampaha, Galle, Nuwara-Eliya, Ratnapura, Kegalle , Badulla, Hambantota,and Kurunegala .


Member of the International Network of Alternative Financial Institutions – Asia (INAFI- Asia, Bangladesh)

Founder member of Lanka Micro Finance Practitioners’ Association. (The pioneer Micro Finance Practitioners’ network in SriLanka)