Appointment of new Board member

RNS Number : 8394H

ASA International Group PLC

08 December 2020

 

ASA International Group plc appointment of new Board member

Amsterdam, The Netherlands, 8 December 2020 - ASA International Group plc, ("ASA International", or the "Company"), one of the world's largest international microfinance institutions, today announces that Dr Salehuddin Ahmed has been appointed to the Board as an Independent Non-Executive Director with immediate effect. Dr Ahmed is scheduled to become a member of the Nomination Committee, Audit and Risk Committee and the Independent Directors Committee.

Dr Ahmed is a citizen of Bangladesh and presently is a Professor at Graduate School of Management, BRAC University, Dhaka, Bangladesh. He is an Independent Director of Grameenphone Ltd., the largest mobile telecommunications operator in Bangladesh. He is also on the advisory bodies of several government and non-government agencies in Bangladesh and a member of the Board of Trustees of three universities and a postgraduate institute. Dr Ahmed was the Governor of the Bangladesh Bank (Central Bank) between 2005 and 2009, where he was responsible for formulating monetary policy and its implementation as well as regulating the banks and financial institutions. Prior to this he was the Managing Director of Palli Karma-Sahayak Foundation (PKSF), set up by the government of Bangladesh and funded by the World Bank, the apex funding agency of microcredit operations in Bangladesh. He has worked as a Consultant for many international agencies and the World Bank and has authored more than 90 books, reports and journal articles, which have been published in Bangladesh and abroad. Dr Ahmed obtained his Ph.D. in Economics from McMaster University, Canada in 1978. He was a Professor in the BRAC Business School from January 2014 to September 2020.

No further information is required to be disclosed about Dr Ahmed under Listing Rule 9.16.13R.

Commenting on the appointment, Dirk Brouwer, CEO of ASA International Group plc, said:

"We are delighted to welcome Dr Ahmed to our Board. He has very extensive business, banking and microfinance experience and we look forward to receiving the benefit of his wise counsel."

Dr Salehuddin Ahmed said:

"I am honoured to join the Board of ASA International. During my days as Managing Director of PKSF, I had the opportunity to work closely with ASA Bangladesh and help fund its growth from a medium-sized microfinance institution to one of the largest and most successful in the country. The development of ASA International has been equally remarkable in terms of the growth of its operations in such a wide range of countries in Asia and Africa. I look forward to working closely with my colleague directors in providing the appropriate oversight of the company's governance."

Enquiries:

ASA International Group plc

Investor Relations      [phone]

Véronique Schyns                                                                                               [e-mail]

About ASA International Group plc

ASA International 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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