The Finance Houses Association holds AGM for 2012

The Annual General Meeting of the Finance Houses Association of Sri Lanka (FHASL) was held on 28 September 2012 at the Galadari Hotel, Colombo. The members of the Finance Houses Association of Sri Lanka elected Kamal J. Yatawara (CEO, The Finance Company PLC) as its Chairman for the second consecutive year, reposing their confidence in him as their leader for 2013.

FHASL elected Nalin Wijekoon (Softlogic Finance) and Ravi Yatawara (LB Finance) as Vice Chairmen of FHA. The new Executive Council comprises of the senior management of Abans Finance, Alliance Finance, Bartleet Finance, Central Finance, Commercial Credit, Mercantile Investments, Peoples Finance, and Sinhaputhra Finance.

The main objective of the FHASL is to maintain close relations with the regulatory authorities and work with them with regard to the issues and common interests of licensed finance companies and also to provide a forum for forging better understanding and fellowship amongst the employees of LFCs.

During the past year, the FHASL undertook several initiatives for the betterment of the non-banking financial services industry. FHASL introduced a new code of ethics in July 2012, which will act as a guideline for business operations of member finance companies in terms of customer services, confidentiality of information, legal obligations, employee recruitment, competitive initiatives and also with regard to projecting the image of the finance industry.

Furthermore, FHASL organises regular social get-togethers for employees of LFCs to meet and interact with each other. The Annual Sports Festival of FHASL was held at St. Peter’s College grounds, Colombo 4 on 22 September 2012. FHASL has also launched a website to publicise its activities to members and the general public.