Alliance Finance Company Awarded for Best Management Practices - Ranked Top 10 by the Institute of Chartered Professional Managers, Sri Lanka
In a year marked by unprecedented economic challenges, Alliance Finance Company (AFC) emerged as a beacon of resilience and innovation, earning accolades as one of the top 10 companies for best management practices in Sri Lanka. Against the backdrop of macroeconomic instability and market uncertainties, AFC remained steadfast in its commitment to sustainability, embracing a holistic approach that encompasses financial, social, and environmental dimensions.
AFC’S journey towards sustainable excellence is anchored in the triple bottom line business philosophy, which prioritizes not only financial performance but also social impact and environmental stewardship. By aligning its business strategies with these broader sustainability goals, AFC has not only strengthened its market position but also contributed to the well-being of communities and the preservation of the environment.
One of AFC’S notable initiatives in this regard is its deposit mobilization project, which played a pivotal role in enhancing liquidity and expanding the company’s reach across diverse geographic regions. By diversifying its deposit base and broadening its customer network, AFC has not only strengthened its financial stability but also empowered underserved communities and promoted financial inclusivity.
Beyond its deposit mobilization efforts, AFC has demonstrated a steadfast commitment to corporate social responsibility (CSR) initiatives aimed at addressing pressing societal needs and promoting community development through its island-wide branch network. From supporting education and healthcare programs to championing environmental conservation efforts, AFC has made meaningful contributions to the well-being of society at large.
Another pioneering project in AFC’S sustainable activities is the “AFC Hapannu Forest” - a forest created by the child savers of the company and dedicated to the future generations of children. The 60-acre forest is being created close to the Mailapitiya Ranaviru Memorial Tower at Mailapitiya South in the Kandy District. The project’s main aim is to teach youngsters about the benefits of forest trees and ecosystems while also encouraging them to save for the future. The project is being developed by AFC with the collaboration of the District Forest Office Kandy, and is managed under the command of the Conservator of Forests.
Moreover, AFC has integrated sustainable practices into its operational framework, adopting measures to minimize environmental impact and promote resource efficiency. With the company’s continuous commitment in implementing green initiatives, AFC has not only reduced its carbon footprint but also set a benchmark for sustainable business practices in the financial sector.
The recognition by the Institute of Chartered Professional Managers underscores AFC’S unwavering dedication to best management practices and its proactive stance towards sustainability. As AFC continues to chart its course towards a brighter, more sustainable future, it remains committed to driving positive change and making a lasting impact on society and the environment.
About Alliance Finance PLC
Alliance Finance Company PLC, the oldest
finance company in Sri Lanka is committed to sustainability and has taken significant steps towards achieving the Un-approved Sustainable Development Goals and the Paris Climate Agreement. The company has undertaken initiatives to combat climate change, promote social entrepreneurship, and ensure biodiversity conservation and ecosystem restoration. In 2020, Alliance Finance Company PLC became the first certified financial institution in South Asia under the Sustainability Standards and Certification Initiative (SSCI), attesting to its long-standing commitment to sustainability.