Sectors Banking / Insurance / Financial Services
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Sewa Finance is the micro-finance subsidiary of Sewa Lanka Foundation. For nearly 13 years Sewa Lanka Foundation (a foremost local NGO) provided informal microfinance services to the poor and marginalized people through Community Based Organizations (CBO). This system was helpful to strengthen the CBOs, but to improve the financial sustainability and accountability of loan funds it needed a more formal institutional setup, especially when most of the CBOs were in disarray after the tsunami. Therefore Sewa Lanka Foundation took the initiative to establish a separate company to take over its micro-finance operations.
The newly formed Sewa Finance is registered as a Limited Liability (Public) Company, which was registered in September 2005 and started operations in June 2006. (Registration No. is N (PBS) 1275). It is re-registered under Companies Act 7 of 2007. (New Registration PB 1105).
Major shareholder of Sewa Finance is Sewa Lanka Foundation with few development professionals holding nominal shares. The Board of Directors of Sewa Finance comprised of several Directors of Sewa Lanka Foundation, an ex General Manager of Peoples Bank and an independent development consultant.
Sewa Finance is an emerging MFI in Sri Lanka. The procedures and processes of Sewa Finance is of high quality and it received the ISO 9001:2000 quality standard certification from Sri Lanka Standards Institution (SLSI) in June 2007, the first MFI in Sri Lanka ever to receive that accreditation.
Sewa Finance has expanded their services to 13 districts namely Galle, Matara and Hambantota in the Southern Province, Nuwara-Eliya and Matale in the Central Province, Ampara, Batticaloa and Trincomalee in the Eastern Province, Pollonnaruwa in the North Central Province, Monaragala in the Uva Province, Kurunegala and Puttalam in North-Western Province AND Colombo in the Western Province. The Company has also been able to successfully bring microfinance to the plantation workers by setting up branches in Hatton and Kandapola, in the Nuwara-Eliya district.
The Company name was changed to “SEWA COMMUNITY CREDIT LIMITED” on 03rd September 2014.