REG - ASA Intnl. Grp PLC - ASA Pakistan receives Microfinance Banking Licence

ASA InternationalAnnouncement

25/05/2022 07:00

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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 SBP 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 (mailto: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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