ASA Pakistan receives NOC for MFB license

RNS Number : 9138Y

ASA International Group PLC

07 January 2020

 

 ASA International Group plc

ASA Pakistan receives NOC for MFB license

Amsterdam, 7 January 2020

On 3 January 2020, ASA Pakistan Ltd., a lending company and ultimate 100% subsidiary of ASA International Group plc, received a no objection certificate from State Bank of Pakistan to transform into a microfinance bank, subject to meeting various conditions, within a period of six months.

Dirk Brouwer, CEO of ASA International Group plc, comments: "We consider this an important step towards securing the microfinance bank license, which should enable ASA Pakistan to mobilize savings over time."

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Enquiries:

ASA International Group plc                                                  [phone]

Investor Relations                                                                     [phone]

Mischa Assink                                                                            [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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