SLICM optimistic over micro credit management program

The Sri Lanka Institute of Credit Management (SLICM), the only institute which offers credit management education in Sri Lanka, opened registrations for the October intake of the Micro Credit Management program, which was recently launched by the institute.

SLICM was initiated as a pioneering education project to fill a vacuum in leasing and finance related companies.

Micro credit is the extension of small loans (micro loans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history.

It is designed not only to support entrepreneurship and alleviate poverty, but also in many cases to empower women and improve the standard of communities by extension.

The four-month program will be conducted in Sinhala. The subjects will be fundamentals of micro credit including evaluation and appraisal of credit applications, client and micro credit, HR and portfolio management, risk management, legal and regulatory and social performance management.

Council Member, SLICM and CEO, HDFC Bank, Nimal Mamaduwa said, "With our country entering an era of strong economic growth, the role played by micro credit management becomes more relevant within the country's development plan."

"It is pivotal that our human resource be aligned with these advancements of the niche area of Micro Credit Management and we at SLICM cater specifically to potential growth," he said.