The LOLC Group has acquired controlling interests of Pakistan’s Pak Oman Microfinance Bank (POMB), a specialised financial institution formed as a joint venture between the Governments of Pakistan and Sultanate of Oman in July 2001. LOLC will hold a media briefing to announce this on Friday, officials said.
Pak Oman’s mission is to help fight poverty by providing financial services to financial service to micro enterprises on a sustainable basis in Pakistan.
LOLC Group’s maiden foray into overseas investment was through PRASAC in Cambodia catering to the microfinance market there. Now the largest micro finance institution in Cambodia, PRASAC provides access to financial services for rural communities and micro enterprises in Cambodia. In a bid to expand their regional presence, the group signed this deal with Pak Oman, officials said.
LOLC has a dedicated microfinance firm - LOLC Micro Credit Ltd - inaugurated in 2009 which is the largest microfinance company in Sri Lanka. (DE)
You can share this post!
Content
An interim order prohibiting Deshabandu Tennakoon from carrying out his duties as Inspector General of Police (IGP) has been issued by the Supreme Court.
The Presidential election will be held on September 21, the Commission of Elections has decided.
The former leader of the New Sama Samaja Party (NSSP) and the New Left Front and well-known figure in left-wing politics in Sri Lanka, Dr. Wickramabahu Karunaratne, passed away at the age of 81.
Leave Comments