Microfinance in sri lanka ways to make your money make money

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 ways to make your money make money of microfinance institutions in sri lanka. The report contains a comprehensive analysis of whether the central ways to make your money make money bank of sri lanka (CBSL) and other government institutions directly or indirectly brought legal recognition ways to make your money make money to savings operations by various type of microfinance institutions. In addition, the report addresses the issue of whether the fundamental right ways to make your money make money of equality before law is violated, if the CBSL now takes any action to prevent the ways to make your money make money mfis, NGO s and cbos accepting deposits, while allowing the deposit taking microfinance programs of the government ways to make your money make money 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 ways to make your money make money be taken to rectify the gray areas with regard to ways to make your money make money deposit taking activity of mfis.

Evidence from the millions of microfinance clients around the world ways to make your money make money demonstrates that access to financial services enables poor people to ways to make your money make money increase their household incomes, build assets, and reduce their vulnerability to the crises that are so ways to make your money make money much a part of their daily lives. Access to financial services also translates into better nutrition and ways to make your money make money improved health outcomes, such as higher immunization rates. It allows poor people to plan for their future and ways to make your money make money send more of their children to school for longer. It has made women clients more confident and assertive and ways to make your money make money thus better able to confront gender inequities.* promis has researched more than sixty such persons and families ways to make your money make money 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 ways to make your money make money of these people, providing them with assistance that would see them through well ways to make your money make money into the future . …..More

In the aftermath of the 2004 tsunami hopes loomed high ways to make your money make money that the conflict between the liberation tigers of tamil eelam ways to make your money make money (LTTE) and the government of sri lanka (gosl) which had been going on already for two decades could ways to make your money make money be finally solved with the unprecedented concern and support of ways to make your money make money 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 ways to make your money make money one of “in and out of conflict. Microfinance providers in the north and east of sri lanka ways to make your money make money face conflict-related higher risks and higher operational costs than mfis in ways to make your money make money other parts of the country. Especially in the north and in the uncleared areas repayment ways to make your money make money 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 ways to make your money make money and the east.

The microfinance institution women’s development federation of hambantota (janashakti) was hard hit by the december 26 tsunami. The management of the grassroots microfinance institution made the grim ways to make your money make money discovery in the wake of the disaster that it had ways to make your money make money lost five full-time staff and 13 volunteers. Greater still was the number of clients missing: of the over 32,000 members, approximately 1,000 are dead or missing. Infrastructure damage was also extensive: there was major damage suffered in 20 of 72 janashakti ways to make your money make money bank societies (JBS), and minor damage in an additional 23 JBS. The immediate reaction to the devastation by janashakti’s management was to join the relief work that began ways to make your money make money in earnest all over the country. Needs were immense and the devastation in the low-lying areas of this coastal district was widespread. As they got more information that allowed them to better ways to make your money make money assess the situation, the decision was made to focus janashakti’s efforts on rehabilitation of its members’ businesses and not on direct relief work.

As neither commercial nor development banks nor state-dominated but unsupervised cooperatives delivered to the rural and urban ways to make your money make money masses, credit ngos, during the 1970s, ushered in what came to be known as the microcredit ways to make your money make money revolution. Powered by donor support and international publicity, grameen banking became the new model of microcredit, its founder the prophet of the microcredit movement. The term microfinance, originally meant to comprise financial intermediation between savers and borrowers, was created only in 1990. In the mid-1990s it was taken up by CGAP, the donor consultative group to assist the poor, which has turned the microcredit revolution into the microfinance revolution ways to make your money make money and professionalized microfinance. […] microfinance in asia presumably has a much longer history, though little seems to be known about the early history ways to make your money make money of the hui in china, the chit funds in india, the arisan in indonesia or the paluwagan in the philippines, to name but a few. Financial institutions of indigenous origin, most of them informal, are still exceedingly widespread but have been largely ignored in ways to make your money make money financial sector development.

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