Submission of FHA 2 (Two) Policy Documents to the CBSL Governor

Titled ‘Code of Conduct of Licensed Finance Companies Sri Lanka’ the updated instrument was handed over to the Governor of Central Bank of Sri Lanka Prof. W.D. Lakshman and Bank’s officials by FHA Council members on 18 March 2021 at the Central Bank premises. The overall objectives of updating the Code were to comply with all current regulatory and legal requirements while adhering to industry best practices. We take humble pride in the fact that the Code was not imposed on our sector by any authority but was self-introduced by all FHA members on their own will, which demonstrates the members’ strong commitment to sectoral integrity and their social responsibility.” The members of FHA also handed over their ‘Sustainability Mandate’ to the Governor of Central Bank Prof. W.D. Lakshman and top officials of the Bank. The purpose of the Sustainability Mandate is to serve as the guideline for the LFCs to integrate sustainability principles holistically into their businesses, enabling sustainable value creation through their own financing approaches, in line with defined sustainability guidelines that would ultimately contribute towards national sustainability agenda and UN Sustainable Development Goals. As a growing number of financial institutions in the world are adopting policies, systems, and lending practices that reduce the environmental impact of their operational footprint, it is time Sri Lankan LFCs actively follow suit. We are making sure that financing practices for economic development shall not come at the cost of our ecosystems and our future generations.