AMSTERDAM: ASA Pakistan Ltd., a lending company and ultimate 100% subsidiary of ASA International Group plc, has received a no objection certificate (NOC) from State Bank of Pakistan (SBP) 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.”
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.