SAMN Conference 2018

A: Yes, there were.

A: It was the first time a South Asian micro-finance conference was held in Sri Lanka. It was also the first time in 10 years that an international conference of this nature was held here.

A: The LMPFA was established in 2006 with the objective of creating an environment conducive to the unhindered development of microfinance in Sri Lanka. Lobbying regulators and policymakers, institutional capacity building, information sharing are some of the important work we’ve done over the years. In 2008, together with microfinance networks in other countries in South Asia, we formed SAMN which today is the regional body that represents microfinance networks and industries in the region.
LMFPA was the hosting agency this time and it was a great opportunity as a country to showcase our contribution to financial inclusion.

A: Yes, special attention was drawn to the matter of regulation. Among the points discussed was the importance of creating an environment conducive to micro-finance in any country. Participating countries, especially the South Asian nations, shared their experience in this regard.

A: There was critical input from all speakers on this topic. There was a lesson to be learnt for the Sri Lankan micro-finance sector on effective implementation of regulation, as it has up to now been a little slow in Sri Lanka.

A: Yes, Sri Lanka is considered an ideal location for innovative microfinance solutions, and what with regulations recently introduced by the Central Bank, the industry as a whole is now expected to besufficiently standardised. From the inception, we lobbied with regulators to draft the Microfinance Act. We lobbied for 10 years, and finally we made it happen. The LMFPA was the backbone of this regulation. For every draftthat came after, they sought feedback from us. The LMPFA was also able to include non-governmental microfinance institutions (or NGO microfinance institutions, as we call them) in the regulatory framework. That was one of our biggest achievements.

A: Yes, there was participation from the CBSL, with several high-ranking officials taking part in a number of discussions. It was a great pleasure to have CBSL for this conference and their contribution to the discussions.

A: With regard to deepening financial impact, one of the more crucial aspects discussed at the conference was impact investment. It figured prominently in the panel discussions. Another important point was the role that technology can play in the development of the microfinance sector.

A: Participants actively discussed how technology can be integrated in areas of mobile money, mobile transactions, digital finance, data analytics, paperless microfinance, etc. They also explored opportunities available to get IT into the industry as well as getting into mobile money.

A: The conference was immensely beneficial to us as an association as well as the country at large, as we managed to do a lot of image building through it for the microfinance sector in Sri Lanka. The biggest gain was to showcase to the world the advancements we have made as an industry over the years. The LFMPA is now faced with the challenge of taking this momentum forward. The key lessons, especially regarding regulations and impact investments, etc., are what we have to focus on.
As LMFPA President, I must also take this opportunity to thank our sponsors, without whose generous support this event would not have been possible. A very special thanks goes out to our gold sponsor LOLC. Our finance partner Bimputh Finance as well as HNB Grameen as silver sponsor were immensely helpful in putting the event together.