The history of leasing in Sri Lanka dates back to 1977, when the Government introduced liberalized economic policies. But the emergence of leasing industry embarked in 1980, as a joint venture project of the World Bank, in accordance with their recommendation to set up a leasing industry in Sri Lanka. Passing several decades of evolution, today leasing has become more sophisticated and popular mode of financing in Sri Lanka.

The Leasing Association of Sri Lanka, is a Guaranteed Limited Company duly incorporated in the in the Democratic Socialist Republic of Sri Lanka on 04th July 2001 and re-registered on 22nd of May 2008 under the Companies Act No.7 of 2007. The Leasing Association of Sri Lanka is set up to promote, foster, protect and safeguard the interests of the Leasing Industry in Sri Lanka. At present, the membership of LASL is comprised with forty Licensed Finance Companies and three Licensed Specialized Leasing Companies.

Leasing Association raise the collective voice of the leasing fraternity of Sri Lanka through frequent dialogs with regulatory bodies and policy makers at the different forums, in order to ensure the sustainability of the leasing industry. All endeavors of the Leasing association is aimed at enhancing the interrelationship and connectivity of the leasing community, whilst assisting the member companies to develop the competences of their workforce.

Regulating the authorized motor vehicle Valuers is another core function of the Leasing Association. The valuers appointed by LASL are the only authorized personnel to issue valuation reports in respect of motor vehicles. Activities and practices of these valuation officers are being monitored consistently, in order to protect the ethical business conduct of the valuation sector.



OUR OBJECTIVES

Chairman’s Message

It gives me immense pleasure to write this welcome note at the re-launch of the official website of Leasing Association of Sri Lanka (LASL), at a juncture when the leasing industry is undergoing somewhat difficulties in the prevalent turbulent economic conditions.

The Association has been in operation since the 1980’s and was incorporated as a legal entity in July 2001. At present, LASL comprise of 43 member companies of leasing and finance industry.

The Leasing industry in Sri Lanka has been facilitating small and medium term business enterprises for their capital formation, whilst enhancing the living standard of the individuals. It has been primarily responsible for facilitating the convenience of transport through finance leases of vehicles. Industry

statistics justifies that leasing has become the most popular financing instrument for vehicle financing and micro business asset financing. Further, the leasing industry has been providing an invaluable service to the banking industry and the economy by making hitherto an un-bankable community embrace the banking habit by, in most cases, providing the first form of financing.

In line with the vision of the government, the Members of the Association are expanding their activities and improving distribution channels throughout the country by attracting more customers from all sectors of the economy while contributing to regional development. In this environment, LASL is committed to improve service standards of the industry and cater to clients’ and member requirements which would be the sustainable factor of the industry. In this quest we hope this new website would not only be just user-friendly and informative, but also would be of a very useful tool in enhancing communication amongst all stakeholders of the leasing industry.

Ananda Seneviratne

Board of Directors

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Mr. Ananda Seneviratne

Chairman
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Mr. Ravi Yatawara

Vice Chairman
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Mr. Sumedha Fernando

Director
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Mr. Ashan Nissanka

Director
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Mr. Chandika Hettiarachchi

Director
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Mr. Krishan Thilakarathne

Director
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Mr. Godfrey Wijeratne

Director
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Mr. Sanjaya Thenuwara

Director

Past Chairmen

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Mr. C. P. De Silva

  • 1985-1995
  • 1997-1999
  • 2000-2002
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Mr. C. Wijenaike

  • 1995-1997
  • 1999-2000
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Mr. Eranjith Wijenaike

  • 2002-2003
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Dr. Dilanjan De Soysa

  • 2003-2005
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Mr. D. P. Kumarage

  • 2005-2007
  • 2012-2014
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Mr. D. Prasanna De Silva

  • 2007-2009
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Mr. Sanjeewa Bandaranayake

  • 2009-2011
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Mr. Nishaman Karunapala

  • 2011-2012
  • 2014-2016