Corporate Social Responsibility

Corporate Social Responsibility

January 4th, 2016

True to our corporate mission, social responsibility is considered an intrinsic part of our business. Not limiting our responsibilities of being a mere micro credit operator with financial targets, we are committed to nurture our ties with communities, particularly, in which we operate; supporting not only their economic needs, but, also extending a hand to fulfil their social aspirations.

Our approach to social responsibility is not adhoc, but focused, well-structured and planned with volunteerism and enthusiasm of employees across the organisation.

We continued with our commitment to take forward our dedicated CSR project, ‘Isuru Diriya Sisu Upahara Scholarship’ for the fifth successive year. Reaching out to high-achievers at the Grade Five Scholarship Examination conducted by the Department of Education, our scholarship programme seeks to support, give boost and nurture confidence to take their next step in education.

Environmental Responsibility:

Being a responsible financial organisation, it is very much a part of our inner culture to care for our living environment. We have adopted effective measures to lessen our carbon footprint which are nurtured across the organisation and well attuned with the LOLC Group policy on environmental responsibility.

Generally, our environmental initiatives are carried out in collaboration with our parent and sister companies within the Group. Yet, apart from organised and structured group collaborations, we are conscientious in our efforts to ensure efficient resource utilisation, waste management and recycling within our daily operations.

‘Isuru Diriya Sisu Upahara Scholarship’

Fostering Leaders for Tomorrow with “Sisu Upahara” LOMC, launched the “Isuru Diriya Sisu Upahara” Scholarship Awards in 2010. Having organised the event annually, today Isuru Diriya Sisu Upahara Scholarship Awards is probably the single largest CSR project by a NBFI in Sri Lanka.

During the four years of the ‘Isuru Diriya Sisu Upahara’ Scholarship programme, more than 1,800 children of clients who achieved exceptional results at the Grade 5 scholarship examination have been felicitated andrewarded by LOMC.

This program is recognised as a long term holistic initiative to bring prosperity to people’s lives and to ensure that their right to socioeconomic development is fulfilled.

The program has a three pronged approach to encourage and develop the primary education of children from grass root communities. Firstly, LOMC facilitates skills development and exam preparation via educational programs and seminars for children identified from need-based communities, including those who are not necessarily children of the Group’s clients. Secondly, the Company provides scholarships and rewards to high performing children of its micro and SME clients. Thirdly, the children together with their parents are brought to Colombo each year from all corners of Sri Lanka to be felicitated at a colourful awards ceremony graced by high level Executives of the Group as well as illustrious personalities from the Government sector.

LOMC’s unique triple bottom line business model cohesively integrates business with social development enabling the economic empowerment of women and alleviating poverty among low income families. In addition, the Company has been successful in encouraging sustainable agro farming, promoting the continuity of education among children from low income families, ensuring long-term community development and providing employment opportunities to youth, among others.