ASA International Group PLC ASA Pakistan receives Microfinance Banking Licence (6809M)
25 May 2022 - 4:00PM
UK Regulatory
TIDMASAI
RNS Number : 6809M
ASA International Group PLC
25 May 2022
ASA Pakistan receives Microfinance Banking licence
Amsterdam, The Netherlands, 25 May 2022 - ASA International
Group plc, (the 'Group'), one of the world's largest international
microfinance institutions, announces that ASA Pakistan received the
Microfinance Banking ('MFB') licence from State Bank of Pakistan
('SBP') on 24 May 2022.
On 3 January 2020, ASA Pakistan received an in-principle
approval (via a No Objection Certificate or NOC) from S BP to
transform into a microfinance bank , after which ASA Pakistan
completed all pre-licencing requirements set by the central bank in
2021. The MFB licence is subject to compliance with certain legal
and regulatory requirements and conditions prior to formal
commencement of business as a microfinance bank.
Dirk Brouwer, CEO of ASA International Group plc , comments:
"This is a very important development for the Group . Once we
receive the approval to use the licence, it finally will enable us
to further strengthen and expand our business in Pakistan by
mobilising savings in addition to loans over time . "
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Enquiries:
ASA International Group plc
Head Investor Relations
Véronique Schyns
vschyns@asa-international.com
+ 31 6 2030 0139
About ASA International Group plc
ASA International Group plc (ASAI: LN) is one of the world's
largest international microfinance institutions, with a strong
commitment to financial inclusion and socioeconomic progress. The
company provides small, socially responsible loans to low-income,
financially underserved entrepreneurs, predominantly women, across
South Asia, South East Asia, West and East Africa.
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