Microfinance Act Directions No. 08 of 2016: Reporting Requirements

The Central Bank of Sri Lanka issued Microfinance Act Directions No. 08 of 2016 to mandate reporting obligations for Licensed Microfinance Companies. These entities must submit financial statements, including the Statement of Financial Position and Statement of Comprehensive Income, to the Director of the Department of Supervision of Microfinance Institutions. Monthly reports are due by the 15th of the following month, while annual submissions follow the schedule required by the Microfinance Act.

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MONETARY BOARD

CENTRAL BANK OF SRI LANKA

27 October, 2016 MICROFINANCE ACT DIRECTIONS NO. 08 OF 2016

REPORTING REQUIREMENTS

Issued under Sections 11 of the Microfinance Act, No. 6 of 2016.

1. Requirement to submit information

1.1. Every Licensed Microfinance Company (LMFC) shall submit information to the Director, Department of Supervision of Microfinance Institutions (D/DSMI) according to the formats provided.

Schedule I: Time schedule for Reporting Requirements

	Report	Periodicity	Due Date
i	Statement of Financial Position	Monthly	By the 15th of following month
ii	Statement of Comprehensive Income	Monthly	By the 15th of following month
iii	Statement of Financial Position	Annually	As required by the Microfinance Act
iv	Statement of Comprehensive Income	Annually	As required by the Microfinance Act

Indrajit Coomaraswamy
Chairman of the Monetary Board
Governor of the Central Bank of Sri Lanka

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