Berendina Micro Investments Co. Ltd

Berendina Micro Investments Company Limited (BMIC) holds the distinction of being Sri Lanka’s first microfinance company, granted its license by the Central Bank of Sri Lanka under the Microfinance Act No. 6 of 2016.   The journey commenced with Berendina’s dedicated microfinance program in 2007 marked by the establishment of Berendina Microfinance Institute (Guarantee) Limited (BMI). BMIC emerged alongside BMI under the Brerendina umbrella, functioning as a distinct entity until 2017 when it assumed the role of managing microfinance activities and successfully secured the microfinance license from the Central Bank of Sri Lanka.

Since the inception, BMIC has stood as a beacon of poverty-focused microfinance in Sri Lanka. Its unwavering commitment to poverty alleviation is evident through its unique offerings, including providing credit at the most competitive interest rates when compared to other NGOs and private sector microfinance institutions in the country. What sets BMIC apart is its holistic approach that combines credit with Enterprise Development Services (EDS), empowering clients with not just financial resources but also the knowledge and tools to enhance their livelihoods.  Furthermore, BMIC prioritizes environmental sustainability, aligning with the Central Bank of Sri Lanka’s vision for “Sustainable Finance in Sri Lanka.” By promoting eco-friendly practices within its operations, BMIC contributes to a greener and more sustainable future.

In addition to its financial services, BMIC fosters a culture of savings, offering safe and accessible facilities for clients to set aside their hard-earned money, thus sowing the seeds of prosperity and financial security. One of the value-added services of BMIC is the ‘Bright Students Scholarships’ (BSS), goes beyond financial inclusion to support the educational aspirations of its clients’ children. By offering scholarships, BMIC enables these young minds to pursue Advanced Level education, fostering their dreams for brighter futures. BMIC stands as a testament to the power of microfinance in transforming lives and nurturing aspirations within the communities it serves.

The accolades showered upon BMIC are a testament to its unwavering commitment to excellence. With pride, BMIC bears the titles of ‘Best Micro Finance Company Sri Lanka 2021’ and ‘Best Agricultural Lending Company Sri Lanka 2021’, bestowed by the prestigious Global Banking and Finance Review Magazine of the United Kingdom. BMIC’s ethos is rooted in the principles of the triple bottom line approach, where People, Planet, and Profit harmoniously coexist. Their overarching theme, “Save the Environment for Today and Future,” underscores their dedication to sustainable, eco-friendly practices. This commitment has been recognized with the prestigious ‘SCALE Green Creative Adaptation Donor’s Choice Award 2021.’

The marginal profits earned by BMIC have been given only to the sister company – Berendina Development Services (BDS).  BDS operates in 7 districts of the country having a budget of over 300 million rupees, a year. The funding is currently provided by Berendina Stichting of the Netherlands and BMIC.

In the last three years, BDS has significantly improved the well-being of more than 25,000 families, prioritizing the most vulnerable members of our society, including individuals who are striving to make a living, widows, senior citizens, persons with disability, young people, and school children. The scope of BDS work is extensive and covers a wide range of areas, including livelihood development, water supply, sanitation and hygiene enhancement, empowerment of youth and women, infrastructure development, and educational advancement. Its ultimate goal is to empower communities by equipping them with the means to lead productive, dignified lives in an environment characterized by sustainability, freedom, equality, and protection.