ABSTRACT
SANASA, the Sinhala acronym for Sri Lanka’s Thrift and Credit Co-operative Societies, represents a rare success story among the many co-operative endeavours that it was once thought would be a major vehicle for rural development and poverty-alleviation in Asia. Its history dates back to 1906 and it is the oldest form of co-operative society in Sri Lanka. Approximately 17 per cent, or 1,000 out of the current 7,000 societies have been in existence for seventy years or more. These societies have managed to survive as indigenous, grassroot level organisations and have maintained their independent character despite bureaucratic and political intervention over the years.
