BOC Launches “Ranliya” Loan Scheme to Empower Women Entrepreneurs

In a move to uplift women entrepreneurs and foster economic growth, the Bank of Ceylon (BOC) has introduced the Ranliya Credit Scheme, a unique financial initiative designed to unlock the vast potential of women in Sri Lanka.

Speaking about the scheme, Mrs. Samanthie, Assistant General Manager Branch Credit – Range 11, described Ranliya as more than just a credit scheme. “It’s a celebration of women’s contributions to society and the economy. The name ‘Ranliya,’ meaning ‘Golden Lady,’ reflects the immense value women bring to our world. This scheme is dedicated to empowering them as leaders and entrepreneurs,” she explained.

Ranliya Loan can be obtained initially at 9% p.a. and aligns with the Central Bank of Sri Lanka’s guidelines for women-led businesses, focusing on enterprises where women own more than 50% of the company, own at least 20% but act as key decision-makers, or make up 30% of the board. This inclusive approach ensures that women’s leadership in various capacities is recognized and supported.

The scheme is available for startups and ongoing businesses, offering financial assistance for both investment and working capital needs. Entrepreneurs can access up to Rs. 50 million per category, with a maximum limit of Rs. 100 million, and benefit from for Investment  five years and for working capital  three year repayment period.

Globally, there is a growing recognition of the untapped economic potential of women. While many women have made strides in various fields, significant barriers ; social, cultural, and financial still exist. Mrs Samanthie emphasized, “Traditional roles have often confined women to household management, leaving their entrepreneurial potential underutilized. Ranliya is designed to dismantle these barriers, empowering women to step into leadership roles and make meaningful contributions to the national economy.”

Ranliya’s scope and ambition set it apart from other schemes offered by BOC, such as Siriliya, BOC youth  or other SME schemes , which cater to smaller-scale needs. With Ranliya, the focus is broader and more impactful, prioritizing sectors vital to the national economy, including exports, tourism, agriculture, livestock, and fertilizer production.

“Women venturing into these sectors are not just running businesses; they are driving economic growth and setting an example for others to follow,” Mrs. Samanthie added.

BOC’s commitment to empowering entrepreneurs is evident in its extensive support network. “We don’t just provide loans; we provide guidance,” Mrs. Samanthie explained. Through the SME Circle, BOC assists entrepreneurs in crafting business plans, accessing markets, and developing strategies for success.

Additionally, BOC’s vast branch network ensures accessibility across Sri Lanka, while its partnerships with NEDA, SED, IDB under Ministry of Industries and  Export Development Board (EDB) enhance the resources available for entrepreneurs. The Export Circle further supports women entering international markets, offering specialized expertise and facilities like packing credit.

“BOC was founded to support local entrepreneurs. Ranliya is the latest expression of our dedication,” she stated.

Mrs. Samanthie ended with an inspiring message: “Women have so much untapped potential. Many don’t realize what they are capable of until they take that first step. Ranliya is here to help you take that step. Whether you are managing a household or running a small business, you can achieve so much more. This is your chance to transform your life and contribute to the country’s progress. Don’t hesitate,seize this opportunity and make your mark.”

With the Ranliya Credit Scheme, BOC reaffirms its commitment to empowering women and driving sustainable development in Sri Lanka. This initiative not only provides financial support but also paves the way for a brighter, more inclusive future.