Conrad Dias, the previous Chief Executive Officer of LOLC Finance PLC assumed duties as the Non-Executive Chairman of LOLC Finance PLC.
In alignment with the financial sector consolidation plan of the Central Bank of Sri Lanka (CBSL), Commercial Leasing & Finance PLC (CLC) was merged with LOLC Finance PLC (LOFC) with effect from March 31, 2022.
The merger would structure LOLC Finance PLC to be the largest Non-Bank Financial Institute (NBFI) to operate in Sri Lanka.
Simultaneously Krishan Thilakaratne was appointed as the new Executive Director/ Chief Executive Officer of LOLC Finance PLC with effect from March 31st, 2022.
Conrad Dias was appointed to the Board of LOLC Finance PLC on March 01, 2020. His experience spans over three decades as an idealistic leader in business technology. Over the years, he has innovated many fin-tech solutions such as iPay and OYES. His leadership and contribution to the industry has been recognised both locally and internationally. He has been awarded as the CIO of the year 2016 by the Prestige’s Computer Society of Sri Lanka and Professional Excellence Award 2017 by Chartered Management Institute of Sri Lanka. LOLC appointed Krishan Thilakaratne, as the new Executive Director/Chief Executive Officer for LOLC Finance PLC with effect from March 31. He was in the role of Director/Chief Executive Officer for Commercial Leasing and Finance PLC (CLC) for the last 10 years. Thilakaratne, brings with him over three decades of practice in banking and financing.
Thilakaratne is also a Board member of Seylan Bank PLC and Commercial Insurance Brokers. He further serves as a Director of LOLC Myanmar Microfinance Company Ltd and LOLC Central Asia covering the markets and investments in Tajikistan, Kyrgyzstan, Kazakstan, and Uzbekistan. He was also a board member of the Credit Information Bureau of Sri Lanka (CRIB), PRASAC Microfinance Institution Ltd Cambodia, and was a past Chairman of the Finance Houses Association of Sri Lanka (FHASL), the apex body for Non-Bank Financial Institutions (NBFIs) in Sri Lanka.
He conceptualized and introduced the Alternative Financing Model (Islamic Financing) for the LOLC Group in 2007. LOLC Finance is looking forward to fortifying its position as the most trusted and innovative financial brand of people through leveraging both Dias’s and Thilakaratne’s vast years of experience and their unique skill sets to push the boundaries of service excellence. Conrad Dias and Krishan Thilakaratne