Socially responsible services
Through the ASA Model of Microfinance
Through its heritage and close association with ASA, the Association of Social Advancement, based in Bangladesh, the Company has a long heritage in the microfinance industry. From inception, the Group benefited from early access to ASA NGO Bangladesh’s know-how, industry technical expertise and experts. The Group was founded to adapt the ASA Model to fit the diverse countries in Asia and Africa in which it has established its microfinance institutions. The ASA operating (lending) model is focused around six distinctive features, emphasising the Company’s social responsibility commitment to clients and staff:
- Loans with market-based interest rates
- Group selection without joint liability.
- Collateral-free loans with a moratorium on loan repayments in emergency situations.
- Loans for income-generating activity only.
- Full repayment before qualifying for new loans and repeat loan cycles with set limits.
- Training and development of operating staff in house and no bonus incentive.