Wean Nepal Laghubitta Bittiya Sanstha Ltd

General Back
ground

Micro Finance is regarded as the best available tool for poverty alleviation through financial services to the low income group and is a mechanism of social intermediation. It focuses on providing employment to poor and disadvantageous group of the society. It is emerged as an important financial intermediation of formal, semi-informal and informal sector. Thus micro-finance has been considered as banking with development tools.

Nepal Seva Laghubitta Bittiya Sanstha Ltd (NSLBSL) is incorporated as a public limited company registration no. 117446/070/71 on 2070/08/16 B.S. at Company Registrar Office of Government of Nepal under Company Act 2063. The company is "D" Class Financial Institution (Micro Credit Development Bank) licensed no NRB "Gha" 38/071/72 on 2071/04/21 by Nepal Rastra Bank (NRB) under the Bank and Financial Institution Act 2063. The Bittiya Sanstah has commenced its financial transaction from 2071/08/08 B.S. It is providing micro-financial services to the low income & underprivileged peoples of remote village development committees of Sindhupalchowk, Rasuwa and Nuwakot district.

Women Entrepreneur Association of Nepal (WEAN) was established in 1987 as a non-profit and non-governmental organization by a group of prominent Nepalese Women Entrepreneurs  who shared a common vision of helping other women to set up a new business enterprises  and grow in their established businesses. In the context, WEAN intends to increase women’s participation in Socio Economic Transformation working together in various activities of integrated programs of Training, Micro – Credit & Marketing Network. WEAN Started micro credit program in 1992 with its small capital fund of Rs.300,000. In 2005, WEAN obtained permission from Nepal Rastra Bank to act as a Micro Financial Intermediary (MFI). WEAN has 2000 Micro credit members and out of which 1800 have taken loan for their business. WEAN already created 2 co-operatives out of the previous Micro Credit beneficiaries and they are now running their co-operatives independently.

WEAN, registered under Government of Nepal, Ministry of Home Affairs District Administration Office in Lalitpur, having received permission from Nepal Rastra Bank, this institution is converted to ‘D’ category Financial Institute as per instructions from Nepal Rastra Bank. Accordingly, the WEAN and its affiliated members and other founders jointly established micro finance financial institution naming WEAN Laghubitta Bittiya Sanstha Ltd. At present, WEAN Laghubitta is running 5 branches – Lalitpur, Kathmandu, Bhaktapur, Dhading and Rasuwa. There are already 1415 active women members, and among them 1380 women have already taken loan to run their business.

Vision

The Vision of the Financial Institution is poverty alleviation of rural community through economic development enhancing standard of living of people.

Mission

To encourage saving to skill oriented productive programs uplifting the income level of the deprived sector.

Objective

The main objective of the financial institution is providing institutional credit for general public lacking formal banking facility for saying “Friend for Financial Success” in the rural areas of the district with the intention to encourage and help rural community to attain sustainable growth in the financial activities for the mobilization of domestic resources that they venture to undertake.

Target Group

Basically Women, underprivileged, Poor Farmers and Underdeveloped people are customer in group based financial services of the Organization. They are under the defined as organization target groups/members. Those targeting group/member is basically based on land holding pattern, socio-economic & other culture phenomena. The selection criteria are based on organization rules.