About Us
History of the Sarvodaya Development Finance (SDF)
Sarvodaya Development Finance(SDF) PLC, was promoted by Sri Lanka’s oldest continuing social movement, the Lanka Jathika Sarvodaya Shramadana Sangamaya.
The purpose was to support underserved rural economies and grassroots entrepreneurism in Sri Lanka, that represented communities deemed ‘non-bankable’ by formal financial institutions. As the financial arm of the Sarvodaya Social Movement, SDF was the only finance company in Sri Lanka owned by a charity and became the first impact investment finance company listed on Colombo Stock Exchange.
SDF is also one of the oldest microfinance institutions in Sri Lanka and SDF is the first formal financial institution to channel the private sector investments into low and mid-income groups in the country becoming the first impact investment finance company Listed on Colombo Stock Exchange.
SDF fulfills its mission to foster sustainable development by providing not only a range of financial services, but also by conducting educational programs to make successful entrepreneurs by organizing specialized programs on management, digital marketing, finance, and related other subject matters, and by targeting small and medium enterprises(SMEs) from all parts of the country.
Over 90% of our branches are located outside the Western Province to enable financial services to low and mid-level income groups. While targeting the SMEs as our primary customer segment, SDF caters to the non-bankable community in Sri Lanka by delivering financial solutions through fully pledged 56 branches that are again connected to 5400 village societies.
Sarvodaya-SDF Business Philosophy
As a member of the Sarvodaya Movement, which is dedicated to the social and spiritual wellbeing of all beings, SDF is guided by the Sarvodaya philosophy. Therefore, SDF adopts an ethical position of not supporting business activities traditionally considered anti-social by Sri Lankan Buddhist society, such as fisheries, poultry, gambling, alcohol, and weapons-related industries.
Legal Status and Ownership
Sarovadaya Development Finance is the first listed entity at the Colombo Stock Exchange as impact investment finance company. It was incorporated on 1st January 2010 as a limited liability company under the Companies Act No. 7 of 2007, effective 19th December 2012.
The company is a Licensed Finance Company (LFC) regulated by the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 and an approved Credit Agency under Mortgage Act No. 6 of 1949 and Trust Receipts Ordinance No. 12 of 1947 by the Department of Commerce.
The Sarvodaya Movement holds 54% ownership of SDF. Currently the largest shareholder 'Sarvodaya Economic Enterprises Development Services (Guarantee) Limited (SEEDS)' owns 36.10% of the ownership of SDF. SEEDS was established by Sarvodaya in 1986 to be an economic empowerment entity and was incorporated into a separate legal entity, under the Company's Act of Sri Lanka in 1998.
DR. A. T. ARIYARATNE – FOUNDER
“Sarvodaya means the Awakening of All – from an individual Human Personality to Humanity as a whole. This awakening has spiritual, moral, cultural, social, economic, and political dimensions. Whatever we do in one of these sectors influences all other sectors.”
Dr. A. T. Ariyaratne
Awards
DR. A. T. ARIYARATNE – FOUNDER
“Sarvodaya means the Awakening of All – from an individual Human Personality to Humanity as a whole. This awakening has spiritual, moral, cultural, social, economic, and political dimensions. Whatever we do in one of these sectors influences all other sectors.”
Dr. A. T. Ariyaratne
Awards
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