BY LAWS OF FINTECH FORUM, SRI LANKA

Type of
Members

There are three classes of membership in the Fintech Forum, namely Corporate Members, Startup Members and Associate Members. Fintech Forum may at any time create different classes or sub-classes of membership, upon approval by a majority of members at an Annual General Meeting.

Member Type 1

Corporate Members

  • Financial technology (FinTech) companies registered in Sri Lanka, banks, finance companies and fintech service providers that have been in operation for a minimum period of three years or more and have a primary business of developing, promoting and engaging in providing technology based financial services. The annual turnover of the said companies shall be at least Rupees Twelve million (LKR 12,000,000.00) per annum. 
  • In the case of a company which is a member of a group of companies, the turnover may be the total fintech related turnover of the group. 
  • Any company which ceases to fulfil the above requirements may be removed from membership by the Board at their discretion.
  • Voting by proxy is allowed at all General Meetings. 

Member Type 2

Startup Members

  • Any company providing FinTech services who has not been in operation for three years or whose annual turnover is less that LKR 12 million may be admitted by the Board at their discretion as a Member of the Fintech Forum under the Startup member category. 
  • Startup members shall not have any voting rights. 

Member Type 3

Associate Members  

  • Any company that does not meet the criteria described above and whose primary business is providing technology solutions to the financial services industry in Sri Lanka and generates an annual turnover of more than LKR 12 million may be admitted by the Board at their discretion as an Associate Member of the Fintech Forum. 
  • Associate members shall not have any voting rights 

Method Of
Application

Any, body corporate, partnership, sole proprietorship or professional association may apply for membership of Fintech Forum by submitting a duly completed prescribed application to the email address of the Fintech Forum, together with the prescribed fee.  

  • Each application shall be reviewed by the auditor and recommended to the Board, and, if approved by the Board, membership shall be conferred upon the applicant.
  • All membership fees shall be paid in advance for the current year and paid before the end of February of each year. Provided however that the subscription fee of new members joining after the 30th September of any year would be only half of the stipulated annual fee.
  •  The annual fee can be changed as and when deemed necessary by the Board of Directors.

Membership
Fees

Corporate member

Each Corporate member shall pay a sum of Rupees Fifty Thousand (RS. 50,000.00) as annual membership fees.  

Startup Member

Each Startup Member shall pay a sum of Rupees Thirty Thousand (RS.30,000.00) as annual membership fees. 

Associate Member

Each Associate Member shall pay a sum of Rupees Fifty Thousand (RS.40,000.00) as annual membership fees.  

A register of all the members shall be maintained by the Company Secretary. A membership number
would be assigned to each member in a suitable format. sss