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Related Areas : List

Infinity Laghubitta Bittiya Sanstha Limited
View Transaction History
Name and Symbol Infinity Laghubitta Bittiya Sanstha Limited(ILBS)
Address Gaindakot-2, Nawalpur
Email Address ilbslfinance@gmail.com
Website www.infinitymbsl.com
Last Traded Price (Rs.) 1015.00
Change (Rs.) and (%) 1015(0.00)
Total Listed Shares 4,145,133.00
Paid Up Value (Rs.) 100
Total Paid Up Value (Rs.) 414,513,300.00
Closing Market Price (Rs.) 1015.00
Market Capitalization (Rs.) 4,207,309,995.00

Infinity Laghubitta Bittiya Sanstha Ltd.

Central Office Gaindakot, Nawalpur

Brief Profile of Infinity Laghubitta Bittiya Sanstha Ltd.

Tel.:  078-503301 Fax : 078-503317   Email:info@infinitylbsl.com.np                    www. Infinitylbsl.com.np

INFINITY LAGHUBITTA BITTIYA SANSTHA LIMITED (ILBSL)

 

Overview

 

Almost 25.2 percent of the Nepalese population falls below the poverty line. This mass referred to "deprived sector" is deprived of the basic needs due mainly to socio economic reasons. This sector has very little access to the formal banking services in the absence of adequate physical assets to offer to the banks as collateral. As a result the people belonging to this sector are facing hardship in earning sufficient income so as to manage their basic needs, such as, foods, clothes, health care, education and other social needs.

 

INFINITY MFIis committed to uplift the socio economic status of the people belonging to the deprived sector of the Nepalese society by providing easy access to microfinance services. It aims to work at national level with a vision to create environment wherein people, though are in difficult circumstances could participate in income and employment generating activities to develop and sustain their human potential. It is heading with a mission to work with and for the poor and disadvantaged people, especially the women to alleviate their poverty by raising their awareness and self-reliance attitude.

 

INFINITY MFIwill be governed by a General Assembly at the top comprising of members representing leading former banks and government leaders dedicated to this field as promoter shareholders. Now, we have a seven member Board of Directors. The day to day operation of the financial institution will be managed by a management team headed by a Chief Executive Officer (CEO) who will be responsible for managing organization and smooth implementation of programs.

 

Considering the scenario of current outreach of financial sectors and the growing demand for the outreach expansion of financial services especially in rural, urban and semi-urban areas, INFINITY MFI is promoted by joint high integrated renowned people in Nepal. INFINITY MFIintends to provide the services of young experienced team of professionals with an aim to create a new window to provide opportunities for the creation, promotion and scale up of micro-enterprise activities for poverty alleviation in Nepal.

 

Objectives

INFINITY MFIaims to upscale the financial status of the disadvantaged groups of people by providing them with easy access to micro-finance services and enhance their business skills and grow their enterprises at optimum level. The general and the specific objectives of INFINITY MFIare as hereunder:

 

 

 

 

General Objectives:

  • Provide quality and reliable banking/financial intermediary services to the general public in general and deprived sections of the society in particular through healthy competition among banks and financial institutions and protect and promote rights and interests of the depositors.
  • Generate financial resources through internal and external sources, extend such resources for the establishment, development, extension, and efficiency/capacity and productivity enhancement of agriculture, industry, services, commerce and other commercially viable productive enterprises and thereby contribute towards the development of country's industrial, commercial and agricultural sectors.
  • Mobilize the available skill, labor and capital for the establishment, operation, development, extension and promotion of production and employment generating enterprises in rural/urban/semi-urban areas; and for that provide adequate financial resources, technical and managerial consultancy services, training and technology and thereby contribute towards fulfilling the national goal of reducing poverty.
  • Minimize risks in banking/financial services; assist in liberalization process of banking / financial sector and contribute towards making country's economy strong and stable.
  • Promote the trust of the general public in the overall financial system of the country.

 

Specific Objectives

  • Provide micro-entrepreneurs (Groups, Individuals members including the graduated female) with credit services for the promotion/establishment of different types of micro-enterprises that generate income, self-employment and/or employment opportunities by mobilizing local resources at maximum level;
  • Mobilize savings from group and Individuals members including group graduates, borrowing individuals and from general public as and when it fulfills NRB's criteria to do so, to strengthen loan disbursement system as well as to stabilize the household consumption through effective mobilization of their savings;
  • Encourage and extend micro-credit services to micro-entrepreneurs for establishing enterprises, including micro-hydropower, solar home system, solar dryer, biogas, improved cook stoves, wind energy and improved water mill for increasing the efficiency in productivity;
  • Provide micro-credit services to group graduates and individual micro-entrepreneurs for promotion, development and linkages of the agro-based enterprises with market;
  • Provide remittance services from abroad and within the country to clients in coordination with the appropriate agency;
  • Provide micro-insurance services to the clients in coordination with the appropriate agency; and
  • Continue identifying the potential enterprises in urban, semi-urban, and rural areas for investment and help establish successful enterprises;

 

 

Mission of INFINITY MFI

Ensuring easy accesses of microfinance services to the people below the poverty line (deprived sector) and thereby contributing towards helping them to come out of the vicious circle of poverty. Enhanced access to microfinance services will create more employment opportunities and contribute to generate income among the people belonging to deprived sector. This would help people to develop their micro-enterprises and improve their livelihoods conditions by accessing to health, education, food and clothes.

 

 

Summary of Institutional Plan

 

The promoters of the company have decided to name the proposed institution as "Infinity Laghubitta Bittiya Sanstha Limited(INFINITY MFI)". The company will be registered under the Companies Act, 2063 and will function/operate as per the Banks and Financial Institutions Act, 2073 (BAFIA) as a category "D" financial institution.

Disadvantaged community people as potential micro-entrepreneurs need to access financial services that would foster their micro-enterprises at different levels and contribute to national economy. The rationale behind to establish INFINITY MFI include different aspects given as hereunder:

The growing demand of microfinance services for micro-enterprise development activities from the people belonging to deprived sector has encouraged the promoters to establish a microfinance institution to focus on the development of micro-enterprises and economically empower the deprived sections of the society to live their life with social honor and dignity. Under BAFIA, 2073, Infinity Laghubitta Bittiya Sanstha Ltd. would be one of the options for strengthening microfinance sector through the linkages between internal and external resources. People living in urban, semi-urban, and rural areas can access the institution to deposit their savings. So would help enable the institution to be self-reliant in terms of meeting financial self-sufficiency being this case as one of the important factors.

Past experiences have shown that banks and financial institutions under category A, B and C would be reluctant to go to deprived sector on their own, since it is expensive and would also require bigger branch-network. The formal institutional structure of the proposed company would contribute to disburse more to the needy people and expand the outreach.

NRB would provide with standardized regulatory services for regular monitoring and supervision to the proposed company. This would help consolidating and empowering a viable financial institution established and worked as a strong legal entity for the poor and disadvantaged group of micro-entrepreneurs.

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