June 1, 2021
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2min

 




 

 

The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka (CBSL) issued a press release recently stating that the Unit imposed penalties on a couple of banks/finance companies including Kanrich Finance Ltd., for non-compliance of provisions in the Financial Transactions Reporting Act No. 6 of 2006 (FTRA) inter-alia related updating of United Nations Security Council Resolutions (UNSCR) Sanction lists and Financial Institutions (Customer Due Diligence) Rules as per the FIU rules, regulations and directives.

While acknowledging the regulatory violation, the Company wishes to clarify that this penalty was imposed inter-alia mainly due to a delay in updating and screening the United Nations Security Council Resolutions (UNSCR) Sanction lists. Subsequently, these procedural shortcomings were fully rectified by properly updating the system as to comply with the relevant provisions in the FTRA and related FIU directives.

Kanrich Finance Ltd is fully committed to abide by all policies, directions, guidelines and rules set out by the regulatory authorities including the Central Bank of Sri Lanka (CBSL)/Financial Intelligence Unit (FIU) and will ensure complete compliance since this promotes good corporate governance and best ethical practices. The company is also socially responsible and safeguards the interests of customers, clients, and shareholders at all times to contribute to the building of a stable and resilient financial sector in Sri Lanka.

 

 

 



 

 

 


July 16, 2017
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4min

Thursday, 13th July 2017, Colombo: The impactful CSR project ‘Kanrich Thaksalawa’ of one of the fastest-growing financial institutions in the country, Kanrich Finance has been recognized on a global platform from amidst competitors from 25 countries across Asia-Pacific. Kanrich Finance was awarded ‘Asia Responsible Entrepreneurship Award’ by Enterprise Asia in the ‘Social Empowerment’ category for its far-reaching project in imparting English speaking skills to economically underprivileged students in rural areas with the aim of improving their educational and career prospects.

Held on 2 June 2017, in Bangkok Thailand, the award ceremony was attended by Shyaminie Fernando – Assistant General Manger; Hiranya Warnakulsooriya – Senior Manager; Manoj Wariyagoda – Senior Manager of Kanrich Finance, who represented the company. Enterprise Asia champions entrepreneurship development across Asia has expanded to over 12 countries across Asia-Pacific establishing a strong network of over 2000 members consisting of successful entrepreneurs representing various industries.

The Responsible Entrepreneurship Awards Honor Asian businesses for championing sustainable and responsible business practices, demonstrating companies’ leadership, sincerity and on-going commitment in incorporating responsible and ethical values, compliance, investment in stakeholders, involvement in communities and protection of the environment into the way they run their businesses.

Kanrich Finance conceptualized this award-winning CSR project to pave the way for a brighter future for underprivileged children, having already impacted 400 beneficiaries thus far. This initiative was developed with a goal of providing children of underprivileged customers free English classes to learn and improve English skills. As part of this project, qualified teachers are hired by the company to teach students from various levels with a goal of bringing them up to the desired standards. The project has had a great impact through the improvement of the language in terms of speaking, reading and writing skills, thereby displaying an enhancement across an overall literacy of the English language. In addition, increasing of examination results to an average of 75% has also been a highlight of the Kanrich Thaksalawa program.

Kanrich also has plans to provide learning opportunities for a further 1800 children via the implementation of 50 study centers across the country within the year 2017. Further, in incorporating a sense of innovation, Kanrich also has ideas in the provision of a mobile library to the students in view of further improving their reading and understanding skills effectively. The ultimate goal of this project is to create One Million future leaders from the rural community by 2025.

Kanrich Finance is the winner of the ‘The Fastest Growing & Emerging Finance Company’ and ‘The Best Micro Finance Service Provider’ awards for the Financial Years 2014/2015 and 2015/2016 consecutively at the Global Banking & Finance Review Awards held in UK. Kanrich Finance is considered as one of the leading financial institutions in Sri Lanka, majoring over areas such as savings & deposits, loans, leasing, micro finance and real estate. Kanrich is a strong practitioner of sustainability with a CSR vision that protrudes respect for society, environment and focus on economic development.


June 26, 2017
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2min

Monday, 26th May 2017, Colombo: Kanrich Finance has been certified as a Carbon Conscious financial services company. The certification is awarded to business entities that have calculated the footprint and have implemented a comprehensive Carbon Management Program. The International Organization for Standardization has a membership of 162 countries, and with a portfolio of more than 21,000 standards giving world-class specifications for products, services and systems, to ensure quality, safety and efficiency.

Commenting on the achievement, Mr.Shiran Weerasinghe – CEO, Kanrich Finance said, “We are proud to receive the Carbon Conscious certification because it not only underscores our effort to reduce our carbon footprint but it also places the company amongst an elite group of companies in the country who are making a decisive effort to meet international operational standards. The management and staff of Kanrich Finance are committed to enhancing our performance in this area.”

In order to acquire this certification, Kanrich Finance had to adhere to model ISO 14064 standards when setting up and operating its management system. These standards are formulated as a result of international, expert consensus which provides a number of benefits. The ISO 14064 standard published in 2006 is a part of the ISO 14000 series of International Standards for environmental management. It specifies principles and requirements at the organization level for quantification and reporting of greenhouse gas (GHG) emissions and removals. It includes requirements for the design, development, management, reporting and verification of an organization’s GHG inventory.

Kanrich Finance Limited, with an over 45-year old history in the Sri Lankan financial sector, offers unique and tailor-made products to its valued clientele. The company is a fully-fledged licensed finance company under the Monetary Board of the Central Bank of Sri Lanka and offers deposit, savings, leasing, hire purchase, loan, micro finance, pawning and real estate products.



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