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Thursday Dec 26, 2024
Monday, 27 February 2012 00:00 - - {{hitsCtrl.values.hits}}
Lanka ORIX Finance (LOFC) has recently entered into a landmark partnership with the International Fund for Agricultural Development (IFAD) headquartered in Rome, Italy to implement a special program to uplift the living standards of rural poor in Sri Lanka by conducting a series of educational programs aimed at raising awareness among migrant worker families on meaningful financial management and investment, ...
they hope to economically empower rural Sri Lankans who seek foreign employment through financial inclusion. Migrant workers are given assistance in setting financial goals through special training programs and thereafter guidance and support to achieve same.
“The aim of doing this project is economic prosperity for rural poor through remittances disbursed via Lanka ORIX Finance,” ORIX Finance Managing Director and CEO Brindley de Zylva said.
Explaining the benefits behind this program de Zylva added, “This program will offer them a free life insurance cover though the Insurance arm of the Group, LOLC Insurance Company Ltd which will cover any unexpected visits back home in case of a bereavement of an immediate family member or on loss of employment of the Migrant Worker.”
Similarly, the company has linked with LOLC Micro Credit Company Ltd to offer micro loans for income generating activities to reduce the dependence on remittances and ensure a source of sustainable income hastening the return journey of the migrant worker.
In order to ensure that their remittances reach their loved ones safely back home, LOFC has partnered exchange houses such as Xpress Money, Valutrans and Money Exchange – Spain. Lanka ORIX Finance is the only non-banking institution in Sri Lanka to have joined the SWIFT network and be listed in the Bankers Almanac.
“Since launching our fixed deposit schemes and our new value additions for foreign currency business, we have attracted many Sri Lankans with investments in Foreign Banks to place these deposits with us. This is a testimony to the strength and stability of LOFC. We also offer better returns for their investments and value added benefits in Sri Lanka,” de Zylva explained.
Senior Citizens are given special treatment with higher interest rates and an emergency medical scheme covered by a strategic alliance with Medicalls.
Lanka ORIX Finance (LOFC) a trusted financial institution has one of the largest deposit bases in the registered finance company sector. A member company of the LOLC Group, LOFC commenced commercial operations in June 2003 and was listed in the Colombo Stock Exchange last July.
As a Registered Finance Company (RFC) engaged in finance business its product range includes mobilising savings and fixed deposits in both local and foreign currency by way of NRFC, RFC and SFIDA accounts, offering credit facilities such as loans, hire purchase and finance leases. In addition, LOFC operates as a trustworthy channel for worker remittance – one of the fastest developing businesses of the company today.
