National Work

Vincent Subasinghe, in addition to his well known contribution to cooperative movement in Sri Lanka and his home region of Sandalankawa, had done an yeoman service to the country in general. Most notable services are working as the founder chairman of People’s Bank in Sri Lanka, serving as the chairman of Cooperative Wholesale Establishment (CWE), also known as Sathosa, and starting the Cooperative Rural Bank. In addition, Vincent Subasinghe has initiated many ventures and projects across the country to build the local economy. As a true believer of local knowledge and local resources, he has demonstrated the power of local economic business models as alternatives to colonial trading systems. By doing so, he empowered people in very rural and underdeveloped parts of the country to become active entrepreneurs and confident citizens while contributing to the national economy.

Vincent Subasinghe had to face many challenges and opposition from the bureaucracy when he started his brainchild of Cooperative Rural Bank in 1964. He not only incorporated the bank against all resistance but also managed to grow the bank rapidly across the country by opening 400 branches within a short span of 6 years. After 60 years of successful and admirable service to the people of Sri Lanka, today Cooperative Rural Development Bank is considered most people-oriented bank in the country.

Vincnt Subasinghe was an active and a key contributor to the Prime Minister D S Senanayake’s multi-purpose irrigation schemes in the independent Sri Lanka. He pioneered the concept of Cooperative Agriculture Villages with the participation of unemployed rural youth in the areas such as Higurakkoda, Thabbowa, Vithikuliya, Daduru Oya, Asaboda and Subasinghapura under the Minneriya and Magalwewa Irrigation Schemes. He uses his extensive cooperative network to harvest more than 800 acres of the cleared forest land according to then government’s land colonization projects. Vincent Subasinghe personally involved in these projects by living in the villages by giving up his luxurious urban life and he did so voluntarily without any remuneration of reward.

As the Founder Chairman of one of Sri Lanka’s leading state banks, People’s Bank, Vincent Subasinghe has done an unparalleled service to the people of Sri Lanka.

Vincent Subasinghe has also extended his public service to the nation by working as the Chairman of CWE, a Director at Lanka Transport Board and in several leadership roles. It is important to highlight here that he offered his services without any salary or remunerations in most cases.

He continued with his national services even after his retirement and till his death.

His life story tells an inspirational story of a true Sri Lankan patriot who not only fought for freedom from colonization but a true son of the nation who actively contributed to the nation building of a post-colonial society by relying on it own people and resources. He lived an exemplary life as a true Sri Lanka till his last day.