SLICM was initiated as a pioneering education project which intended to fill a vacuum in the leasing and finance related companies in Sri Lanka.
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history. It is designed not only to support entrepreneurship and alleviate poverty, but also in many cases to empower women and uplift entire communities by extension.
The duration of the programme is four months and is conducted in the Sinhala medium. The programme entails subject focus on Fundamentals of Micro Credit including evaluation and appraisal of credit applications, Client and Micro Credit, HR and Portfolio Management, Risk Management, Legal and Regulatory and Social Performance Management.
Speaking about the importance of Micro Credit Management Program, Nimal Mamaduwa Council Member of SLICM and CEO of HDFC Bank said, "With our country entering in to an era of strong economic growth the role played by Micro Credit Management becomes much more relevant within our country's development plan. It is pivotal that our human resource be aligned with these advancements of the niche area of Micro Credit Management, and we at SLICM caters specifically to this area of potential growth in the market.
He further added, "As the pioneer institute which offers credit management education in Sri Lanka, we are constantly preparing ourselves to understand the credit aspects in Micro Finance and also understand the significance of fitting training in credit management".
The program is facilitated by practitioners in the industry who have decades of experience. Some of the faculty members are Anura Atapattu - Berendina, E.W Priyantha - Sri Lanka Savings Bank, Rohana Kumara - Lanka ORIX Micro Credit and Hasitha Wijesundara - GTZ. The eminent faculty along with SLICM have been able to very successfully cater to the needs of the participants and as such the feedback received from the industry so far has been very positive. The success of this cohort has encouraged SLICM to launch the third batch in late October this year.
Jithendra Gunatilake (Council Member) and Deputy General Manager Finance Operations of LOLC opined, "This programme enables the students to get enrolled for the main programme of SLICM, which is the Advance Diploma / Diploma in Credit Management with exemptions. Microfinance is a very rewarding area of business for the financial services sector. But the risks involved in this area is considerably higher as a result of limited asset backed lending. Furthermore the social risk of this business model is high as the target market segment is from less affluent economic backgrounds. Hence micro finance is very economically, socially and politically sensitive. As such proper education and training is important for any individual who wishes to follow a career in the micro finance sector".
Applications are open for the end- October 2014 intake and interested students can get in touch with Aspirations International Academy to obtain more information on Advanced Professional Diploma in Credit Management and Professional Diploma in Credit Management and the Certificate in Micro Credit Management which is currently offered to students. You can call SLICM study centre on 0117555255 to obtain more information.
Sri Lanka Institute of Credit Management (SLICM) was started in 1988 as a pioneering education project by the leading finance companies intending to fill a vacuum in the leasing and finance related companies in Sri Lanka. In the year 2000, it was enacted by the Parliament of Sir Lanka and cited that the Sri Lanka Institute of Credit Management be incorporated under Act No. 07 of 2000. SLICM has over 25 years of experience in delivering educational programmes in credit management specifically designed to uplift the credit management skills of the Sri Lankan professionals.
Photo Caption:
1. Nimal Mamaduwa Council Member of SLICM and CEO of HDFC Bank
2. Jithendra Gunatilake Council Member of SLICM and Deputy General Manager Finance Operations of LOLC
