M-CRIL and IDEAS Partner to Strengthen Microfinance Standards in Sri Lanka
M-CRIL Limited, a leading microfinance rating, research and advisory institution, and IDEAS Business and Development Academy (operating under IDEAS Consultancy (Pvt) Ltd), a Sri Lankan consulting and training institution, have signed a Memorandum of Understanding (MoU) to establish a strategic collaboration aimed at strengthening the microfinance ecosystem in Sri Lanka.
The partnership brings together M-CRIL’s technical expertise in microfinance ratings, client protection, social performance and capacity building with IDEAS’ strong understanding of the Sri Lanka’s financial and development sector as well as their training capabilities.
A partnership focused on responsible and sustainable finance
The collaboration is intended to support financial institutions in strengthening institutional performance, responsible finance practices, client protection and transparency, while contributing to greater confidence among stakeholders across the microfinance sector.
Building professional capacity in microfinance
A key component of the partnership will be the joint development and delivery of professional development programmes in Sri Lanka, including microfinance certification courses and customised programmes addressing the evolving needs of the sector.
These initiatives are expected to create opportunities for microfinance professionals and institutions to strengthen technical capabilities, deepen understanding of responsible finance and develop the skills required for a rapidly evolving financial services environment.
As part of this collaboration, M-CRIL and IDEAS will introduce a series of microfinance qualifications in Sri Lanka, starting with a Microfinance Certificate course designed for field staff. Additional courses catering to different levels of microfinance professionals will be rolled out in the coming months.
Supporting Sri Lanka’s Microfinance Sector Amid a New Regulatory Landscape
The collaboration comes at an important time for Sri Lanka’s microfinance sector, which is undergoing significant regulatory and institutional development following the enactment of the MCRA Act. The new regulatory framework enhances emphasis on effective supervision, responsible practices and customer protection. In this evolving environment, the M-CRIL–IDEAS partnership will contribute towards a more resilient, transparent and responsible microfinance sector in Sri Lanka.
Mr. Sudhir Narayan, Chief Executive Officer, M-CRIL, said: “We are pleased to partner with IDEAS to deepen M-CRIL’s engagement with the Sri Lankan microfinance sector. This partnership combines M-CRIL’s experience in ratings, client protection and social performance with IDEAS’ strong local presence and expertise in the sector. We look forward to supporting institutions in Sri Lanka as they strengthen responsible finance practices and build more resilient and sustainable organisations.”
Mr. Imran Nafeer, Director / Chief Consultant, IDEAS, said: “This collaboration with M-CRIL represents an important step towards strengthening professional standards and institutional capacity within Sri Lanka’s microfinance sector. By bringing together international technical expertise and local knowledge, we aim to create practical opportunities for institutions and professionals to improve performance, client outcomes and responsible finance practices.”
About M-CRIL
M-CRIL is a specialised microfinance rating and research institution providing institutional ratings, social ratings, Client Protection Certification, research, advisory and capacity-building services to microfinance institutions and other financial service providers. M-CRIL’s parent company, EDA Rural Systems (EDA) was established in 1983, one of the first consultancies of its kind to provide professional expertise for the development sector in Asia. M-CRIL merged with EDA in 2016. M-CRIL’s work is recognized all over the world, including by the Asian Development Bank (investor in M-CRIL), World Bank/IFC, CGAP, UNCDF, DFID, Swiss Development Cooperation and ACCION International in addition to MFIs and other development partners in 42 countries.
About IDEAS
IDEAS Business and Development Academy is a Sri Lankan consulting and training institution with nearly two decades of experience strengthening the country’s microfinance and financial inclusion sector. IDEAS’s work centers on strengthening the institutional capacity of MFIs through organizational development consulting, governance and risk management advisory, and customized training programmes covering credit management, social performance, and sustainable lending practices. The Academy has also played a role in supporting international development projects operating within Sri Lanka’s financial inclusion ecosystem, working alongside global and regional partners to bring best-practice standards to the local market.
