M-CRIL and IDEAS Partner to Strengthen Microfinance Standards in Sri Lanka

M-CRIL Limited, a leading microfinance rating, research and advisory institution, and IDEAS Business and Development Academy, operating under IDEAS Consultancy (Pvt) Ltd, have signed a Memorandum of Understanding (MoU) to establish a strategic partnership aimed at strengthening Sri Lanka’s microfinance ecosystem.

The collaboration combines M-CRIL’s expertise in microfinance ratings, client protection, social performance and capacity building with IDEAS’ deep understanding of Sri Lanka’s financial and development sector and its training capabilities.

The partnership seeks to help financial institutions enhance institutional performance, promote responsible finance practices, strengthen client protection and improve transparency, while fostering greater confidence among stakeholders across the microfinance industry.

A key focus of the collaboration will be the joint development and delivery of professional training programmes, including microfinance certification courses and customised learning initiatives designed to address the sector’s evolving needs.

These programmes are expected to equip microfinance professionals and institutions with stronger technical capabilities, a deeper understanding of responsible finance and the skills needed to operate in an increasingly dynamic financial services environment.

As part of the initiative, M-CRIL and IDEAS will introduce a series of professional microfinance qualifications in Sri Lanka, beginning with a Microfinance Certificate course for field staff. Additional programmes targeting different levels of microfinance professionals are expected to be launched in the coming months.

The partnership comes at a significant time for Sri Lanka’s microfinance industry, which is undergoing major regulatory and institutional reforms following the enactment of the Microfinance and Credit Regulatory Authority (MCRA) Act. The new framework places greater emphasis on effective supervision, responsible lending practices and customer protection.

M-CRIL Chief Executive Officer Sudhir Narayan said the partnership would deepen the organisation’s engagement with Sri Lanka’s microfinance sector.

“This partnership combines M-CRIL’s experience in ratings, client protection and social performance with IDEAS’ strong local presence and expertise in the sector. We look forward to supporting institutions in Sri Lanka as they strengthen responsible finance practices and build more resilient and sustainable organisations,” he said.

IDEAS Director and Chief Consultant Imran Nafeer said the collaboration marks an important step in raising professional standards and institutional capacity in the sector.

“By bringing together international technical expertise and local knowledge, we aim to create practical opportunities for institutions and professionals to improve performance, client outcomes and responsible finance practices,” he said.