Intruduction

ASA Micro Finance (Myanmar) Limited (also referred to as “ASA Myanmar” or the “Company”) is incorporated under the Directorate of Investment and Company Administration (DICA), Registration No. 653FC/2013-2014 and Permit No.860/2013 of Myanmar, and obtained its registration with Financial Regularity Department as a Deposit Taking MFI, in August 2014.

ASA International is a microfinance holding company registered in Mauritius (in 2007), which has a mission to financially empower the poorest and most deprived population of the world through microfinance. ASAI established microfinance institutions (“MFIs”) in 13 countries in Africa & Asia, including the Philippines, Sri Lanka, India, Pakistan, Nigeria, Ghana, Cambodia, Kenya, Tanzania, Uganda, Rwanda, Myanmar and Sierre Leon. Depending on the regulatory circumstances, these ASA International MFIs operate as savings & loans bank (Ghana), microfinance bank (Nigeria), deposit-taking finance company (Myanmar and Rwanda), or non-deposit taking finance company (India, Pakistan, Philippines, Cambodia, Sri Lanka, Kenya, Uganda and Tanzania, Sierra Leone, Rwanad).

The Model

Each of ASAI affiliate MFIs follows the ASA Model of Microfinance (Established in 1978 in Bangladesh, the microfinance model developed by ASA is widely regarded and proven as one of the successful replicable model of microfinance services for the low-income households, due to its simplicity, standardization and high level of decentralization, is easily scalable and exceptionally efficient), adjusted to local circumstances, and operates under the “ASA International” brand and banner. ASA Bangladesh has licensed the ASA Model of Microfinance and the associated technical and management support to ASA International on an exclusive basis and for an indefinite period of time.

The model has received widespread international recognition. Through its innovative, cost-effective and sustainable microfinance approach, ASA Bangladesh achieved the status of the World’s Number One Microfinance Institution in 2007 as determined by Forbes magazine, USA in its first and only ranking of microfinance companies in the world.

Myanmar Operation

  • ASA Myanmar is implementing its MF program in Yangon and Bago divisions and Mon state through 11 areas and 64 branch offices. It has organized 5260 groups, 122,276 members, 103,770 active borrowers and so far US$ 52 million has been disbursed among the borrowers. Now its gross Loan portfolio is almost US$ 18.55 million where PAR@1 is only .07%(as of February,2018).
  • ASA Myanmar offers flexible loan products for various income-generating activities with loan amount ranges from MMK 300,000 to 400,000 at the entry level; successful client entitles for incremental increase over the subsequent loan cycles.
  • Loan term varies from 6 to 10 months along with the flexibility to pay on weekly/bi-weekly/monthly basis.
  • Business loan ($650-$1500) and Individual loan ($1500-$3800) are offered besides basic microcredit.
  • While groups are formed for better client management, loans are all individual and disbursed on individual merit. But there is option for individual loan without group in business loan category.
  • ASA Myanmar has US$ 2.31 million as savings from its members, which are almost 16% of total principal outstanding. ASA Myanmar operation is covering 49 % of rural areas where 99.9% members are women.
  • ASA Myanmar has a total of 445 staffs, 69% of which are women, who are working relentlessly for providing quality services among poor and low-income group. Among them, 11 are Area Managers, 64 Branch Managers and 291 Development Officers.
  • ASA Myanmar has trained 883 staff through Pre-service orientation, 146 (Area Manager and Branch Manager) have got refreshers and training on monitoring and supervision, 73 leadership and Communication and 64 Financial Literacy training.
  • ASA Myanmar has projected to set up 130 branches in the next four years where 290,000 low-income families (one member from each family) will be covered in Yangon, Bago, Mon, Magway, Mandalaya and Ayeyarwady divisions.
  • ASA Myanmar endorses client protection principle including an effective mechanism of ‘clients complain resolution’.
  • ASA Myanmar has conducted financial literacy sessions among 45,430 members where we have covered three important areas of savings, investment and cash flow management.
  • M- CRIL, has conducted social and credit rating status of ASA Micro finance (Myanmar) Limited. In that rating, AMML has been accredited B+ in Social rating and positively rated in credit related issues as well.

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