The Lanka Microfinance Network (LMFN), Sri Lanka’s dedicated national platform for the microfinance sector, formally inaugurated its governance structure on May 15, 2026, at a landmark meeting attended by over 100 participants representing microfinance institutions, practitioners, and stakeholders from across the country.
The event marked a significant milestone for the industry, with the Network electing its inaugural Board of Management and appointing its first set of office bearers, establishing a structured and democratically governed body to represent and advance the interests of Sri Lanka’s microfinance sector.
A nine-member Board of Management was elected, comprising five office bearers and four board members drawn from diverse microfinance institutions, alongside nine provincial representatives to ensure islandwide representation across all provinces.
The newly elected office bearers are Danushka Udugama as Chairman, Sameera Gunathilake as Deputy Chairman, Imran Nafeer as Secretary, Godrpy Janakarathna as Deputy Secretary, and Pushpa Wijethunga as Treasurer.
The four elected Board Members include Darshana Wijesinghe, Rajitha Udagedara, Nimal Marasinghe, and Rangana Dihan, representing a broad cross-section of the microfinance industry. In addition, nine provincial representatives were appointed to strengthen regional inclusion and participation.
During the meeting, LMFN also presented its constitutional framework, outlining a structured membership system consisting of Principal Members (licensed microfinance institutions), Affiliate Members (including technology providers, consultancy firms, and training organisations), and Honorary Members awarded to individuals and institutions that have made distinguished contributions to the sector.
A key priority for the newly formed Network will be to collaborate closely with the Microfinance and Credit Regulatory Authority of Sri Lanka, established under the Microfinance and Credit Regulatory Authority Act No. 9 of 2026, a landmark law passed by Parliament that replaces the earlier Microfinance Act No. 6 of 2016.