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."

---

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCPPUGCAUPPGRC