Prime Lands enters finance industry

Prime Lands (Pvt) Ltd. has embarked on yet another project by expanding its horizons. Stamping its authority as one of the emerging formidable organisations to reckon with, it has entered the finance industry by joining hands with Grameen Micro Credit Co. Ltd., rebranded as Prime Grameen Micro Finance Ltd.

Having won the confidence and hearts of thousands of satisfied loyal customers, Prime Lands thrives on its philosophy that delighting customers is the key ingredient in success. Over the last 15 years Prime Lands has expanded its influence to other sectors by clearly understanding customer needs and assessing economic trends and conditions.

Grameen is the pioneer micro finance institution in Sri Lanka that empowered the unyielding women to take a leading role in supporting the family to overcome poverty through self-employment projects by providing microfinance loans to thousands of them with a vision of a poverty free Sri Lanka.

With novel concepts and innovative products, Grameen revolutionised the microfinance industry in the early 2000 by disbursing loans amounting to billions of rupees without collateral or guarantors. Based on the core principals of Grameen, it has implemented a time-tested scientific system to suit the Sri Lanka conditions to enrich the lives of thousands of individuals engaged in self-employment projects.

This process had made a significant contribution to the development of the Sri Lanka economy not only by providing much needed microfinance loans to thousands, but also creating over thousands of direct and indirect employment for educated rural youth. Grameen, which covered every nook and corner of Sri Lanka by providing entrepreneurial loans through its 48 islandwide integrated branch network and providing thousands of employment opportunities to the educated rural youth, will forge ahead with renewed vigour as a strong and formidable organisation in the microfinance industry, as Prime Grameen Micro Finance.

Prime Grameen is determined to carry forward its commitment of enhancing the quality of life of thousands of persevering small-scale entrepreneurs in all geographical sections of Sri Lanka and recognising that women play a prominent role in the development of the Sri Lankan economy. Their hard-earned foreign currency remittances to Sri Lanka, participation in the garment industry and agriculture sector are a clear indication of the contribution they make.  Prime Grameen is cognisant of the important role women play in society and the contribution they make to the national economy and is steadfast in its commitment to empower mothers, sisters and housewives to bring prosperity and happiness to their homes through implementing self-employment projects through its well-integrated branch network across the country. From north to south and east to west, all Sri Lankan small-time entrepreneurs can look up to Prime Grameen to obtain their financial needs for their self-employment projects. Grameen was the first organisation to introduce an insurance cover to the self-employed in Sri Lanka. It will continue to provide this cover under Prime Grameen Micro Finance Ltd.

For over 10 years, Grameen has provided over Rs. 23 billion as collateral free loans to thousands of people to enhance their standard of living. Prime Grameen will improve on these services and provide efficient and effective services to all its borrowers in future.

Prime Grameen will be a formidable player in the financial sector in years to come under the new leadership of its dynamic Chairman B. Premalal and professional Board of Directors, together with its Chief Executive Officer Victor Ratnayake and a dedicated and young staff with hands-on experience in microfinance for over 10 years.  Prime Grameen will continue to be a stable and leading financial institution under the direction and supervision of the Central Bank of Sri Lanka providing customer oriented financial services to its clients as well as its depositors.  Prime Grameen invites all Sri Lankans to be stakeholders in the effort to make Sri Lanka a prosperous and developed country free of poverty by becoming loyal deposit holders. Even during the recent financial crisis, Grameen protected its loyal customers and their hard-earned money. Under the directions and supervision of the Central Bank of Sri Lanka, Prime Grameen will assure its loyal depositors a secure return for their deposits at attractive interest rates duly approved by the Central Bank.

Prime Grameen will also offer new products to meet the needs of its customers. Plans to introduce attractive leasing packages, flexible pawning facilities and innovative land purchasing schemes are among the host of other products in the pipeline.

Prime Grameen will embark on a programme that will give value addition to its clients and expand loan facilities to complete higher education of needy students. With Prime Grameen, all stakeholders can look forward to a secure tomorrow.