Sanasa

In 2006 we celebrate the 100th year of cooperative system in Sri Lanka. The present cooperative system was introduced to Sri Lanka in the British era. In the past ten decades the contribution of cooperative system to reduce the margin between the wealthy privileged class & the pover underprivileged class.

The cooperative movement founded by Rochwell & Robert Oven has proven to be an effective way to fight poverty & to promote development in countries around the world.

Every government after the independence established a ministry for cooperative development. Under the strict regulations & supervision of government officers the credit cooperatives began their operations.

In 1978 the credit cooperatives were rejuvenated as thrift & credit cooperative societies. In this way the habit of saving was instilled in the community & capital was gathered from the members. the profits of investments could be divided among the members them selves.

To face the challenges created by the Open Economy introduced to the country in the   80’s a new cooperative concept was introduced under the brand name “SANASA”

Today Sanasa is a well established micro finance institute in every level of society from ground level to the national level. And it is playing a main role in rural development & reduction of poverty by facilitating small entrepreneurs with capital & loans. To face the competition of open economy & to promote entrepreneurship Sanasa has introduced the four-pillar approach. This helped to strengthen the Sanasa structure & the management.

All these changes were brought on by the present leader of Sanasa movement  Dr. P. A. Kiriwandeniya.

Sanasa - Udahamulla East

Cooperative Act

Co operative act No 05 of 1972 & the Western Province Co operative resolution No 03 of 1998.