LEADERSHIP IS AN ACTION, NOT A POSITION.
The definition of board effectiveness has shifted dramatically over the past decade. In the aftermath of the global financial crisis and numerous corporate scandals, a director now confronts not only complex oversight accountability, but also personal risk and liability. Clearly, this is a job not for the faint of heart.
As the supply of courageous board candidates dwindles, global companies are in need of battle tested directors more than ever board members who fully understand and can actively engage in virtually all aspects of an enterprise’s operations. To be truly effective, a board needs directors who can work as a group to clearly define their role and mission, and in specialized individual roles, such as succession planning, acquisitions and capital allocation.
The Prosperous Capital and Credit Limited has done total justice to the definition of “Board of Directors” effectively and efficiently.
Enabled by 20 — year experience and know — how in the finance industry, Prosperous Capital & Credit Limited (PCCL) began its foray into the Micro Finance industry in October 2013, in Colombo. Leveraging on a solid knowledge resource, PCCL embarked on a holistic and hands on approach to community empowerment beyond offering monetary assistance, and was able to achieve stable growth over first the first year alone. Today it proactively upholds repute as a revolutionary change agent through poverty alleviation and rural community development.
In August 2014 the first branch was opened in Sooriyawewa, a rural town in the southern region of the island. This venture can be regarded as one among first in the finance industry involving a region where micro finance had not yet penetrated. Home to a relatively new and diverse community, the dry and arid region was at the time devoid of any flourishing irrigation systems for key livelihood means such as agriculture. The very challenges served as the drivers to enter into this particular segment in Sooriyawewa, emphasizing our key philosophy of rural community development.
Thereafter, the functions and mechanisms of PCCL were decentralized with ten other branches disbursed across various parts of the island. Today we function as a fully edged Micro Finance Company with an asset base of USD 2 million with awards of recognition to our name.
Empowering women is increasingly one of our defining roles and has become innate to our operational capacities as well. Early on we made the conscious decision to recruit young women between the ages of 18–24 to fill the roles of Development Officers. This was a strategic move in our evolutionary journey to improve client protection and accessibility to women entrepreneurs. This change no doubt sets us apart within the finance industry in our resolve to effect change
Our Senior Management Team consists of many industry experts, who bring an assortment of industry best practices to the table and represents a combined knowledge spanning over 20 year. These expertise have been harnessed in putting together a framework which has become the norm of the Micro Finance and Micro Small and Medium Enterprise (MSME) industry.
This knowledge has become our strength and our biggest asset, which has spear headed the company in achieving heights and revolutionizing the Micro Finance and MSME industries, with many industry best solutions. Our board of management comprises of two Executive Directors, while the rest our Non –Executive Directors, this alone portraits the strength we represent in terms of knowledge and expertise.
Being part of the UN GLOBAL COMPACT and the only Finance Company in the Sri Lankan landscape to achieve ISO certification for their practices and processes, Prosperous Capital is set to take on the Micro Finance industry head on.
The Board of Prosperous capital & Credit Limited is team with combined experience of over 75 years with top-tier micro finance firms. They understands the true needs of the customer through the servicing of a diverse clientele throughout the country. The promoters are instrumental in setting up and scaling up micro finance operations in Sri Lanka along with leading entities such as Ceylinco Grameen (now HNB Grameen), Commercial Credit and Nation Lanka Finance PLC.
So here you go with the biographies of some great personalities,
Rupa Dheerasinghe
The Chairperson and the Independent Non-Executive Director
She was the former Assistant Governor, Central Bank of Sri Lanka, and held the post from the 1st of January 2012 to 2nd of June 2016. She has given remarkable service for over 3 decades at the Sri Lankan Central Bank. Moving on, she was the Macro Economic Expert (Consultant) at the Asian Development Bank, A Board Member of Sri Lanka Export Credit Insurance Corporation starting from May 2004 to December 2005 was also the Acting Chairperson of Sri Lanka Export Credit Insurance Corporation during the time period of April 2005. Ms.Rupa Dheerasinghe attended many Special Training sessions at renowned Institutions abroad such as, CFA & HMS, IMF Institute, Bank of America, Merrill Lynch, Federal Reserve Bank New York, USA, WTO/ Department of Commerce Nepal, Reserve Bank of New Zealand., SEACEN Centre Malaysia and IMF/BOS-Australia. It was not only that moving on to her ability at the literacy level, she has over 40 publications including 17 original research works about economic issues, both in Sri Lanka and overseas. She gave her knowledge to the as a visiting Lecturer and Examiner at the Institute of Bankers, Sri Lanka from 1990–2000 and at the Institute of Management of Sri Lanka from 2002–2003. She obtained a Master’s Degree in Economics from the Monash University, Australia combining the Fields of concentration in Econometrics, Macro and Micro Economics and Monetary Theory, Bachelor of Arts (major in Economics-Honors) from the University of Peradeniya, Sri Lanka. This Great Lady is a Life Member of Sri Lanka Economic Association, Ex- Vice Chairperson and Executive Committee Member of Seva Vanitha Unit of the Central Bank and also one of the District Governors’ of Lions Clubs International, District 306C1, 2017–2018. She was honored by numerous awards such as “Liya Abimani”, Award by Sri Lanka Journalists Association in May 2011, Commerce Excellence award from Sri Lanka Shippers Academy 2011, Appreciation Awards from FCCISL in 2012 &2013, Melvin Johns Fellow award in 2010/11, and International Presidents Medal for Community Services in 2015/16, 2014/15 and 2012/13 from Lions Clubs International to name a few.
Madhawa Edussuriya
Founder, CEO and the Chief Strategist
Madhawa has a renowned experience of 15 years in the finance industry and was instrumental in setting up and scaling up microfinance operations at Commercial Credit and National Lanka Finance. He Mobilized over LKR 10,000 Mn as the Director of Investments Ceylinco Grameen, he was also the former Deputy General Manager (Sales and Microfinance) at Commercial Credit and Finance, General Manager at National Lanka Finance and Director Civil Aviation Authority, Director Premier Capital Promoters & Consultancy Ltd. He holds a MBA and Msc. He os Fellow member of the Microfinance Association UK, Member of Association of Business Executives UK and Member of Sri Lanka Institute of Directors.
He was Awarded “The Best Leader Platinum Award” in 2010 in recognition of his contribution at Commercial Credit. Heading microfinance, sales and operations at Nations Lanka prior to setting up PCCL. At present he also serves as a Director of Pro IT Solutions (Pvt) Limited and functions as the chief business development officer at Micromoney.
Charith Amarasekara
Co-Founder, Non-Independent and Non-Executive Director
Charith is also a Member of the Association of Chartered Certified Accountants UK. He holds a BA (Hons) in Accounting and Financial Management from the University of Sheffield UK. He has over 12 years of working experience in the sector of cooperate Advisory, cooperate finance and investments in Afghanistan, Bangladesh, India, USA, UK and in Sri Lanka. Including Prior work experience in leading global firms such as PWC, Deutsche Bank and Royal Bank of Scotland. He is the Head of equity research at the National Lanka Finance on arrival to Sri Lanka, he is also one of the youngest CEO’s of a public listed company in Sri Lanka, with Nations Lanka Finance, he is a Consultant to ADB and World Bank funded projects.
Sahan Deshapriya
Co-Founder, Executive Director
Sahan has a great experience of over 12 years in the microfinance industry with Ceylinco Grameen, Commercial Credit and Nation Lanka Finance. Has has held several senior management positions including head of automobile easy payment scheme and branch manager positions. He has been recognized, as the “Best Branch Manager” and other recognitions. Presently serves as a Director of Pro IT Solutions (Pvt) Limited.
Maj.Gen Nissanka Wijesinghe
Independent Non-Executive Director
Maj.Gen Nissanka has an experience over 35 years in the sector of yeomen, solid, dedicated and action filled carrier in the Sri Lankan Army with a wealth of knowledge and experience in Frontline, Administrative and Logistics areas and his advance skills in Logistical, Human Resources and Financial Management coupled with heightened sense of team work and professionalism. He was the former Chief of Staff in the Sri Lankan Army (2008 -2009), Deputy Chief of Staff in 2007 and held ranks as the Commander East from 2006 to 2007. Colonel Commandant, Regiment of Artillery to 2004 to 2007, General Officer Commanding (GOC) 2000 to 2005, Director of Operations 1999 to 2000 and Commander Artillery Institutionsgade 1997 to 1999 and was Awarded the following medals of Honor Including “Vishista Seva Vibhushanaya (VSV)”, which is an award for possessing an unblemished carrier for over twenty –five years, UttamaSevaPadakkama, Purna Bhumi Padakkama, North & East operational Medal and Vadamarachchi Operational Medal.
Dr.Premasiri Gamage
Independent Non-Executive Director
Dr. Pramasiri holds a PHD in Management and Entrepreneurship, MBA in Management, Post Graduate in Management, Masters of Arts in Sociology, Bachelor of Commerce (J’Pura) and Diploma in Psychological Counselling.He has an experience over 23 years in accounting, SME development, microfinance, psychology and sociology. Currently he is the chairman of Business Development Centre and he was also the former Managing Director for South Asian Entrepreneurs Development Faculty, Executive Director at Small Scale Enterprise Promotion Foundation and Senior Manager at Ceylinco Venture Capital Company limited. He has been instrumental in developing CSR programs for organizations such as Dialog Telecom, Sri Lanka Telecom, ROBI Axiata Company (Bangladesh), Chamber of Commerce, Peoples Bank, Industrial Development Authority, World Vision Lanka, Federation of Industrial Development Authorities, Ministry of Housing, Education, Irrigations, which has bettered the life’s of over 100,000 people. Moving on he is also an affiliated member for Charted Institute of Business Administration, Association of Accounting Technician, Sri Lanka Micro Finance Network, Certified Professional Managers, Sri Lanka, Economic Association, Sri- Lanka Quality Association, Association for International Standards, Industrial Development Authority, South Asian Home Base Business Association, Sri-Lanka Hypnotic Association and many more Institutions plus he is a licensed CEFE &BDS.
He is a Trainer with the knowledge of local and international trainings and workshops.
Dr.Prathiba Mahanamahewa
Independent Non-Executive Director
Dr.Prathiba received his professional education at the Law College of Sri Lanka and was admitted as an Attorney at Law to the Supreme Court of Sri Lanka. Subsequently, proceeded to obtain his Masters in Law from the University of Melbourne (AUS) and was conferred with a Doctorate from the University of Queensland (AUS) in 2006. He is an accredited mediator and serves as an Arbitrator at the Sri Lanka Arbitration Centre. He is also a distinguished life member of the Bar Association of Sri Lanka and an active member of the International Bar Association. He was the founding Dean of the Faculty of Law at the Sir John Kothalawala Defense University and was instrumental in setting up the LL.M (Hons) degree program. He currently serves as a Senior Lecturer in the Faculty of Law, University of Colombo and as an external advisor to the APIIT Law School, Sri Lanka. He has served as the Commissioner of the Human Rights Commission and the Securities and Exchange Commission of Sri Lanka from 2012 to 2015. Several publications to his credit, including “Threats to Online Privacy” which won the “Best Research Paper” award in 2014. Has been featured in the prestigious English language weekly “The Economist” and has contributed articles to many international and local magazines.
Vidushan Premathiratne
Independent Non-Executive Director
Vidushan is an Investing Banker with 10 years of experience, working with Asha Phillip Securities, York Street Partners, Candor Capital and LTC. He is the Founder/ Managing Director of Elon Venture Catalysts. Serves as a strategist, mentor and financial advisor for many innovative start-ups and SME’s in Sri Lanka. Sourced, structured and negotiated transactions, involving Debentures and M&A for leading corporates in Sri Lanka.He Advised and managed large equity portfolios of a diverse range of clientele that include retail institution and high net-worth individuals, advised many leading institutions on the fields of Fixed Income, Derivatives, Initial Public Offerings (IPO’s), Private Placements, Microfinance, Fintech, Digital Payments and Mergers & Acquisitions. Executed direct equity transactions worth LKR 20Bn as a registered investment advisor and completed over LKR 5Bn worth of investment banking transactions, including certain landmark PE transactions. He holds a B.Eng. (Hons) Degree in Chemical Engineering from the University of Nottingham (United Kingdom) and is also a Chartered Financial Analyst (CFA Charter holder). Holds a MBA in Marketing from the University of Colombo and is a Member of CMA (Australia) and Certified Global Business Analyst (Australia). He has also successfully completed the Board Leadership, Director Certification Programme conducted by the Sri Lanka Institute of Directors. Mr. Vidushan Premathiratne is also a guest writer for Daily FT, guest speaker for several institutions including the Colombo Stock Exchange and has been a moderator for certain featured forums.
Effective corporate governance is more complex and challenging than ever. Companies need boards to help them meet regulatory compliance basics. But the most effective boards are those that easily check that box, while also delivering solid strategic counsel and direction.
According to these massive biographies of these great personalities here at PCCL we see the great service they have done to the organization, employees and the country.
INFORMATION EXTRACTED:-
https://hbr.org/2012/11/a-more-effective-board-of-dire
file:///C:/Users/Admin/Downloads/Telegram%20Desktop/company%20profile%20A5%20with%20director%20profile%20softcopy%20new.pdf
ISO 9001- 2008 quality management certified micro finance company
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