part 1 - asa.org.bd · asa: 40 years on 01-06 achievement highlights 2017-18 08 asa becomes the apex mfi of bangladesh 09 asa msme program 11 savings program 13 loan security and

2017-18

VISION MISSION VALUES

Innovative and non-conventional management for achieving cost-effectiveness, sustainability and scale.

The vision of ASA is to establish a poverty free society.

The institutional mission of ASA is to support and strengthen the economy at the bottom of the socio-economic pyramid by facilitating access to financial services and provide healthcare, education, sanitation, hygiene, physiotherapy and agricultural services from own resources generated out of microfinance program for the poor, marginalized and disadvantaged.

ASA

A COMMITMENTFOR SOCIALREJUVENATION

In 2018, we touched 40 years landmark of our institutional journey. On this very auspcious moment, I convey my heartiest felicitations and good wishes to all people of Bangladesh. This moment coincides with two important developments. Firstly, ASA has emerged as the country’s apex institution of microfinance in consideration of its loan outstanding and disbursement. Secondly, Bangladesh has

fulfilled the eligibility requirements to graduate from LDC to developing country. All those development have made observance of ASA’s anniversary so meaningful and jovial.

ASA started its journey within a decade of the country’s independence with the vision of establishing a society free from poverty and disparity.

FROMTHEPRESIDENT OF ASA

Over the span of next 40 years, we have been making unwavering effort for realizing those envisioned goals. All of our actions and activities were completely dedicated for attaining economic emancipation for the poor and ending deprivation of the underprivileged. Considering the need of the people at the bottom of social pyramid we have been keeping our strides to continuously reform our programs strengthening them with necessary tools to ensure quality services.

In the beginning in 1978, ASA neither had resources nor infrastructure but had big dreams to serve the country to make it prosperous by eradicating poverty and bringing economic emancipation of the downtrodden. We made tireless effort to accomplish those over the last four decades. In this journey we had to face numerous hurdles including deep rooted social taboos, political unrest and economic uncertainty. Initially economic hardship and limited resources severely affected us. But, none of those could stymie our enthusiasm and motivation. We overcame all the barriers and became successful in unfolding new horizon for poverty alleviation through innovative works.

At the early stage, ASA was a fully donor based organization. Later in 1991, we successfully developed a new model of microfinance and began implementing it. Within a brief period of inception it flourished and was adopted by clients as a successful program. In consideration of self-reliant program strategy and self-financed development model ASA was acknowledged as the most efficient and sustainable MFI at home and abroad. In 2007, the renowned Forbes Magazine of the USA chose ASA as the most efficient Microfinance Institution of the world. UNESCO praised ASA model comparing it with Ford motor model. ASA offers technical and managerial assistance in developing microfinance programs to 13 countries of Asia and Africa and as a result nearly two million people of those countries are benefited with improved economic growth and development.

About 96 percent of 7.5 million ASA clients are women. Considering on an average four members of

each client’ household, the total number of ASA beneficiaries comes nearly three crore people. It has been playing a catalytic role in empowering women as well as social development. The organization also arranges some necessary services such as primary healthcare, education, physiotherapy, sanitation, safe water supply to the grassroots people out of its program surplus. ASA established two educational institutions: ASA University and ASA Medical Assistant Training School as a part of its initiatives for creating better human resources.

Bangladesh has changed a lot over a period of the last 40 years. Poverty of the country has been reduced to less than 22 percent. Country’s success in the areas of expanding universal primary education, sanitation, reducing child mortality and boosting life expectancy etc. received worldwide recognition. The rural economy of Bangladesh is now more vibrant. In addition to agricultural development there is a need to promote small and medium entrepreneurial initiatives to get the country into the next development trajectory. Our organization has been working meticulously to develop entrepreneurship. A significant number of ASA clients by now have graduated themselves as successful entrepreneurs. We believe that entrepreneurs’ contribution would bring in a balanced development in the country.

I am confident of a bright prospect for Bangladesh in near future. Now our country is moving fast on the highway of development. To meet the ultimate goal ensuring facilities such as education, healthcare, sanitation and economic assistance for every citizen is imperative. Indeed, this is a challenging task. In spite of impending challenges I am optimistic to realise those through our collective effort and hard work.

MD. SHAFIQUAL HAQUE CHOUDHURYFOUNDER & PRESIDENT

ASA

ASA: 40 YEARS ON 01-06

ACHIEVEMENT HIGHLIGHTS 2017-18 08

ASA BECOMES THE APEX MFI OF BANGLADESH 09

ASA MSME PROGRAM 11

SAVINGS PROGRAM 13

LOAN SECURITY AND RISKS FUND 15

MICROFINANCE PLUS SERVICE 17

FOREIGN REMITTANCE SERVICE 19

AGRICULTURE PROGRAM 21

ACHIEVEMENTS & RECOGNITIONS 23

MILESTONES 25

THE GOVERNING BODY 27

MANAGEMENT TEAM 29

ASA ORGANOGRAM 30

ASA IN DIGITAL ERA 31

ASA IN THE GLOBAL MICROFINANCE DOMAIN 35

NON-FINANCIAL PROGRAMS 37

PRIMARY EDUCATION STRENGTHENING PROGRAM 39

ASA HEALTH PROGRAM 42

PHYSIOTHERAPY SERVICE 44

SANITATION PROGRAM 45

SAFE WATER SUPPLY PROGRAM 48

GOOD GOVERNANCE 49

RESEARCH & STUDIES 51

CELEBRATING BANGLADESH’S IMPROVEMENT AS DEVELOPING NATION 53

PARTICIPATING IN DEVELOPMENT FAIRS 55

CELEBRATING WOMEN’S DAY 57

HOPE FOR THE POOREST 60

ASA UNIVERSITY BANGLADESH 61

ASA MATS 63

KEY FIGURES 65

FINANCIALS 66-68

INDEPDENDENT AUDITOR’S REPORT 70-78

TABLE CONTENTS

01 ANNUAL REPORT 2017-18

This year, 2018, ASA touches the 40-year landmark of its institutional voyage. In a hot and gloomy summer evening of 1978 ASA incepted at Tepra village in Manikganj with a modest ritual by the leadership of Md. Shafiqual Haque Choudhury along with some fervent and dream-loving young men. Those young had nothing with them but dream to freeing the poor from the curse of poverty and deep-rooted deprivation and build a newly born nation as a prosperous one. They were fully committed and passionate for their motherland and fellow countrymen imbued with patriotism and philanthropic zeal. From 1978 to 2018 ASA traversed a span of four-decade with an untiring spirit and steady success. For the last 40 years ASA upheld its mission for poverty alleviation and welfare of the common people. During this period ASA not only survived as a model institution but also attained numerous international distinctions which brightened its image as well as that of the country.

Within a decade of country’s independence ASA started its operation. It was a tough time when she had been struggling with political unrest, fragile economy, weak infrastructure and unbearable poverty. It was a period when uncertainty and hopelessness dominated every sphere. That precarious situation deserved to be addressed through intervention of NGOs in collaboration with GOs. This paved the way for emergence of ASA.

ASA’s 40 years journey can be outlined into two major phases. First one was from 1978 to 1990 and second from 1991 to 2018. In the first phase, ASA was a completely donor

YEARS ONINCESSANT

ENDEAVOURSCONTINUE

ASA

ANNUAL REPORT 2017-18 02

dependent organization and it had implemented multifaceted programs on donor’s aid for its target groups. But ASA’s experience with donors was not pleasant. At one point it realized that depending on donors’ assistance poverty alleviation would be a far cry. That realization led ASA to adopt measures to become self-reliant. The move started with introduction of microfinance in 1991.

The microfinance program of ASA brought in success within a few years of its inception turning it into a leading MFI of Bangladesh as well as in the world. In 2000, ASA attained an entirely donor-free status. In the following years, ASA received many appreciations. It was chosen as the most efficient MFI of the world by the renowned US magazine Forbes in 2007. It was also awarded with the “Banking at the bottom of the Pyramid” prize by the Financial Times, London and International Finance Corporation (IFC) jointly. Besides, ASA obtained numerous recognitions and appreciations by many reputed international institutions from around the world.

On this auspicious moment when ASA completed 40 years, some facts of present Bangladesh can be

cited to understand the nature of transformations that took place in our country over the last four decades.

In late seventies, about 80 percent of people were poor which now has declined to below 22 percent, literacy has increased from 20 percent to 60 percent, life expectancy which was 45 years has crossed 70 years now. In addition, nearly 90 percent of people are now enjoying sanitation facilities and about 100 percent eligible children are being enrolled in primary schools. A large number of inhabitants of rural areas are now able to enjoy modern amenities like electricity, television, refrigerator and about 100 million people use mobile telephone.

These developments were beyond imagination then. Further, per capita income of the country goes above USD 1600 and GDP growth hovers beyond 7 percent in recent years. These development matrix is indicative of huge potential of the country to become a developed one in near future. Behind this remarkable transformation of the country NGO sector had an important role.


In 2018, ASA emerged as the top MFI of the country with the highest loan outstanding amounting to BDT 296.81 billion and highest number of branches 3042. It has now 7.5 million active members.

Currently, ASA’s annual credit disbursement comes around BDT 300 billion while transfer of foreign remittance stands around Tk. 9 billion a year. Apart from financial program, it has been implementing non-financial programs such as health awareness, primary healthcare, physiotherapy, primary education strengthening, sanitation, safe water supply etc. out of its program surplus. Through the health awareness program clients are given health education on how to maintain a healthy life.

The primary healthcare program provides one million underprivileged people with various health services every year. Another major non-financial program: Primary Education Strengthening offers tuition assistance to 275,000 underprivileged children and, 67,000 people are given physiotherapy during

2017-18. Furthermore, Sanitation program of ASA facilitated 172,749 households in installing sanitary toilets during 2017-18.

For the welfare of the marginal farmers and agricultural development ASA has also been working for years. It has been providing soft loans, training facilities and market linkage supports to the farmers and agro entrepreneurs under its various schemes. Among those, soft loan for purchasing agro equipment, rearing cross-bred milking cow, fish farming, mushroom cultivation, orange cultivation and producing of vermicompost are mentionable. Thousands of small, medium farmers and agro entrepreneurs have been enormously benefited from these initiatives that helped for making a vibrant agriculture sector.

ASA established two academic institutions; ASA University Bangladesh and ASA Medical Assistant Training School with objectives of creating quality graduates and skilled medical personnel capable of


YEARS ONINCESSANT

ENDEAVOURSCONTINUE

ASA

serving the country. Established in 2006, ASA University has been striving to impart quality higher education to its students enabling them to become leaders in various sectors. About 3000 students are enrolled in ASA University currently and it had offered cumulative amount of Tk. 18 crore as scholarship and tuition waiver to the meritorious and poor students so far.

ASA started offering technical assistance for the overseas institutions for developing microfinance program since mid-nineties. In total 16 organizations from across the globe received technical assistance from ASA and became successful in operating microfinance following ASA model for poverty alleviation required their respective territories. On the other hand, ASA extends managerial backing to 13 countries in developing microfinance strategy through ASA International, a Netherland based for profit Microfinance Company. Under this venture

about two million poor are covered in Asia and Africa.

ASA is the trailblazer institution in self-financed development model and its successful implementation in the NGO sector of Bangladesh. Many NGOs from home and abroad became successful by replicating the model. Due to economic recession rich countries cut down their donation significantly and in consequence most of the donor-based NGOs of the country were forced to reduce programs. But that has no impact on ASA, rather it has been expanding program outreach gradually.

Over the last 40 years, ASA extended its helping hands towards millions of poor and deprived people with required assistance. As a result, those people who once were underserved are now finding means to earn better and live better.


YEARS ONINCESSANT

ENDEAVOURSCONTINUE

ASA

Bangladesh needs to cumulative the ongoing economic success in order to be graduated permanently in middle income phase. Besides, there’s need to take actions for flourishing small and medium entrepreneurs to create new jobs that would ultimately accelerate poverty alleviation process. Considering these ASA reshuffles its policies and keeps upgrading programs to offer better service to clients.

Meanwhile, ASA launched Micro Small M e d i u m E n t r e p r e n e u r s h i p (MSME) Program with an aim to promote ent repreneursh ip . Under the program specialized MSME branches are being opened to deliver project based loans, consultation and knowledge to the new entrepreneurs. ASA would continue its program reform initiatives in this regard.

At present, villages of Bangladesh are vibrating with enthusiasm to undertake various economic activities.

With the help of microfinance people of rural areas are getting opportunities to get themselves involved in multifaceted income generating activities. As a result, new jobs are created which facilitates in alleviating poverty at a faster pace. ASA has been playing a laudable role for the development of rural economy. In addition, the organization also is making efforts to

improve living quality of the poor through offering social services such as primary healthcare, education, sanitation, physiotherapy etc.

We have to strive a lot for making our society completely free from poverty and deprivation through implementing ASA development model as well as attaining

SDGs, the global goals committed by our nation. No doubt that is a tough ask. ASA reiterates its pledge and commitment that its institutional mission shall not be appeased until all those aims and objectives are met.


ASA launched Micro Small Medium Entrepreneurship (MSME) Program

with an aim to promote entrepreneurship. Under the program specialized MSME

branches are being opened to deliver project based loans,

consultation and knowledge to the new entrepreneurs.

Over the last four decades our institutional mission had been ceaseless fuelled with strong commitment and resolute will for alleviating poverty and inspiring lives through empowering women, creating jobs, boosting equality, asserting underprivileged rights, supporting people and communities, enlightening minds and fighting against taboos and social barriers.

ASA: 1978-2018An epic journey towards building a society free from poverty by unlocking potential of the downtrodden.

WHAT WE DID IN LAST FORTY YEARS

ACHIEVEMENTHIGHLIGHTS

2017-18

Awareness Program was conducted among 7.6 million clients for

maintaininghealthy life.

Offered tuition and guidance to 275,000

underprivileged students for improving

studies during 2017-18.

Rendered primary healthcare service to 10,00,000 people predominantly poor

and under-cared during 2017-18.

Provided Physiotherapy treatment to

67,131 patientsfor heeling traumas and organ disorders during

2017-18.

Sanitation Program assisted 1,72,749

households in installing offset toilets during

2017-18.

Waived outstanding loan BDT 88.67 crore

(USD 10.6 million)of 35,818 deceased

borrowers during 2017-18.

Transferred foreign remittance of amounting

BDT 717 crore(USD 85.6 million)

during 2017-18.

Disbursed agriculture loan an amount of BDT 19,178 crore(USD 2.3 billion) during 2017-18.


Accumulated savings of the clients amounting to

BDT 8,103 crore(USD 968 Million)

during 2017-18.

Reached financial services to 7.5 million clients during 2017-18.

Disbursed loansBDT 29,681 crore (USD 3.54 billion) among 7.51 million

clients during 2017-18.

ClientMembers

20%

LoanOutstanding

22%

11%

DirectEmployment

ASA’s Position & Stakein the Microfinance Sectorof Bangladesh.

ASA’s Position & Stakein the Microfinance Sectorof Bangladesh.

� Loan disbursement (Highest) : Tk 296.81 Billion� Loan outstanding (Highest) : Tk 161.99 Billion� Number of Branches (Highest) : 3042� Number of Clients (2nd Highest) : 7.5 Million


Source: CDF

ASA achieved the glorious feat of becoming the apex MFI of the country. According to the latest report compiled by the Credit and Development Forum (CDF), ASA emerged as the topmost MFI of Bangladesh. The report cited that during 2016-17 period, ASA had disbursed the highest amount of loan and had the highest loan outstanding. Furthermore, it had the maximum number of branches among the NGOs and MFIs in the country. It may be noted here that during 2017-18, the organization disbursed loan amounting to BDT 29,681 crore (USD 3.54 billion) among its 7.5 million clients.

ASA paved scores of landmarks over the period of its epic journey for expanding microfinance network across the country in reaching millions of people at the bottom of socio-economic pyramid. ASA started offering technical assistance in 1993 to countries beyond border for developing microfinance network that brought in reputation as well as recognitions for the organization. ASA attained full financial self-sufficiency and became a self-financed institution in 2000.

The reputed Forbes Magazine of the USA, termed ASA as the most efficient and sustainable MFI of the world in 2007. The Financial Times, London and International Finance Corporation (IFC) jointly awarded ASA with the `Banking at the bottom of the pyramid’ prize in 2008 for its unmatched contribution in poverty alleviation. Besides, in 2012, The Global Magazine of Switzerland declared ASA as one of the top 100 NGOs of the world.

Currently, ASA is offering technical assistance to 13 countries of Asia and Africa through ASA International, a Netherland based Microfinance Company. It is pertinent to mention here that with the assistance of ASA about two million people of those countries are getting opportunity in changing their socio-economic condition using microfinance.

ASA BECOMES THE APEX MFIOF BANGLADESH

Microfinance Program



Since inception to until June 2018 MSME program disbursed an amount of BDT 55.4 crore (USD 6.6 million) among

1,077 clients.

Micro, small and medium enterprises are considered as engines of growth and drivers of economic innovation worldwide. For the economy of our country, this sector has been playing a decisive role in creating jobs for the jobless which contributes to poverty alleviation process making it faster and sustainable. Small and Medium enterprises are particularly suitable for the densely populated countries like Bangladesh where SME sector can provide huge employment opportunity with much lower investment.

Over the years, ASA adopted various approaches for the development of small and medium enterprises in the country. As a result a good number small borrowers by availing assistance of ASA have successfully graduated into medium entrepreneurs.

At the end of 2017, ASA introduced MSME (Micro, Small, Medium Enterprise) Program with aim to specifically foster small and medium entrepreneurs in our country. This program has been designed in an exclusive manner for offering easy and fitting assistances to the people deemed potential for the cause.

Until June 2018, a number of 40 ASA MSME Branches were opened in various places considered as growth centers in the country. Furthermore, a plan has been outlined for opening more MSME branches.

ASA MSME PROGRAM Fostering Micro, Small and Medium Enterprises


Savings is an embedded option for getting loans from ASA. It does not allow clients to receive loan without enrolling in saving schemes. Crafting habit of saving money is the core element of poverty alleviation and for bringing future economic improvement. It is a mandatory provision to be enrolled in saving schemes for the aspirants of loans from ASA. Realizing the importance of savings for the economic life of the clients we have devised ASA savings in categories suitable with their income and ability.

Furthermore, saving of the clients is one the major source of fund for the MFI as they reinvest deposited money of the members in the loan programs. So it has benefits for both MFI and clients.

ASA offers attractive interests to the clients on their savings. Savers have been hugely benefited by the ASA savings programs providing them a secured future return. During July 2017 to June 2018, the deposited money of ASA clients was

raised up to over BDT 8,103 Crore ( USD 968 Million) which was about 50 percent of its loan outstanding.

Accumulated savings of the clients amounting to

BDT 8,103 crore (USD 968 Million) during 2017-18.

SAVINGS PROGRAM




Premature death of borrowers is a considerable constraint for the MFIs and for the families of the deceased too as both MFI and family fall into a chaotic situation with the unrealized loans of the departed members. Although, in recent years, life expectancy has increased significantly in the country incidences of premature death is still high especially among the underprivileged segments. Premature death of borrowers creates a high risk for the MFIs by incurring fund loss from the unrealized loans of the departed ones. Taking this reality into account ASA designed Loan Security and Risk Fund (LSRF) for addressing the above constraint of microfinance program relieving both the parties from future uncertainty.

Since introducing years earlier, Loan Security and Risk Fund of ASA has been successfully resolving the problems arising out of sudden death of the borrowers. It facilitates the borrowers with outstanding loan waiving opportunity in a situation following a sudden death.

For enjoying the facility of LSRF of ASA, female borrowers are required to subscribe Tk. 5 per thousand loan and male borrowers Tk. 3 per thousand loan in every loan cycle. The differences in payment is because female borrowers’ subscription covers death of herself and her husband while that of male borrowers covers only his death.

Under the program an amount of BDT 88.67 crore (USD 10.06 million)

outstanding loan of 35,818 deceased borrowers was waived during 2017-18.

Waived outstanding loan BDT 88.67 crore (USD 10.06 million) of 35,818

deceased borrowers during 2017-18.

LOAN SECURITY AND RISKS FUNDSAFEGUARDING BORROWERS AND INSTITUTIONFROM THE FUTURE INSECURITY


As a pioneering microfinance organization ASA introduced a number of microfinance-plus service for assisting its bona-fide clients. This includes grant for accidents, assistance for funeral rites and retirement honorarium etc.

The frequency of road accidents is very high in our country as thousands of people lose their lives every year. Besides, many people have to endure major injuries as victims of accidents which in turn impairs victims’ work ability turning them handicapped. Both clients and their spouse are entitled to get the grant for accidents from ASA. Moreover, ASA offers Tk. 5000 to the next kin of the every deceased client.

During July 2017 to June 2018, a number of 59142 clients and heirs of deceased

client were provided with an amount of BDT 99 crore (USD 11.8 million) as grants for funerals, disability, retirement honorarium and loan exemption for death. ASA also has been providing treatment assistance to its ailing clients suffering from

various critical diseases. It offered an amount of BDT 3 crore as assistance to the clients for meeting cost of treatment during 2017-18.

ASA offered BDT 102 crore (USD 12 million) as grants for

funerals, disability, retirement honorarium and loan exemption for

death to 59142 deceased borrowers and treatment assistance to the ailing

members during 2017-18.

MICROFINANCE PLUS SERVICE




For about a decade, the Foreign Remittance Service of ASA has been successfully transferring a significant amount of foreign remittance of the overseas Bangladeshi wage earners to their family members and relatives in a hassle-free process ensuring highest security and comfort. In last one decade, since commencing the service in

2008 up to June 2018, ASA Foreign Remittance Service channeled in total BDT 6,561.8 crore (USD 784 million) to the clients throughout the country. Through transferring remittance to the clients ASA has emerged as one of the leading remittance channeling agencies in NGO sector of the country.

It could be noted here that for the economy of Bangladesh foreign remittance is a major driving force and strength in recent times making significant contribution to its overall development especially for poverty alleviation. To stimulate further the prevailing economic trend, ASA in compliance of its mission of making a poverty-free society has been attaching priority for accelerated transfer of foreign remittance to the clients in remote areas.

ASA has equipped its 2556 branches with the facilities for transferring foreign remittance and those branches are offering the services to the clients with due care

and professionalism. During 2017-18, an amount of BDT 717 crore (USD 85.6 million) in total was transferred under the program.

Foreign Remittance Program of ASA transfered an amount of BDT 717 crore

(USD 85.6 million) during 2017-18.

FOREIGN REMITTANCE SERVICETRANSFERRING REMITTANCE IN QUICKERAND SAFER MANNER


ASA disbursed agriculture loan an amount of BDT 19,178 crore (USD

2.3 billion) among 53,69,221 farmer-clients and argo entrepreneurs

during 2017-18.

By and large, Bangladesh still remains as an agricultural country as half of its workforce finds employment in the sector. Although contribution of this sector in the national economy is declining gradually yet agro production is continuously increasing. There is a pressing need to boost agriculture outputs for supplying sufficient food for the country’s growing population.

ASA started Agriculture Program with an aim to support agricultural production and address various sectoral problems by offering loans, trainings, exploring market linkage, consultations, and knowledge transfer etc. to the medium and small farmers and sharecroppers. For attaining targets the Agriculture Program of ASA has been implementing a number of projects for addressing needs of the target groups. The projects are: i) Agribusiness Program, ii) SMAP, iii) Rearing Crossbred Milking Cow, iv) Vermicompost production and v) Power Tiller purchase scheme.

ASA disbursed agriculture loan an amount of BDT 19,178 crore (USD 2.3 billion) among 53,69,221 farmer-clients and argo entrepreneurs during 2017-18.

AGRICULTURE PROGRAM



ACHIEVEMENTS &1993Introduction of TA service Internationally.

1994Acknowledged for attaining Financial Self-Sufficiency (FSS).

1998Selected as the International technical Service Provider (ITSP) by UNDP.

2004ASA provided technical, managerial and consultancy services to establish ASAI HC based in Mauritius with subsidiaries in India, Pakistan, Philippines, Sri Lanka, Cambodia, Ghana and Nigeria.

2002Selected as the Best TA Provider Globally (by UNDP).


RECOGNITIONS2018

Emerged as the Apex MFI of Bangladesh.

2012Global Magazine of

Swizerland chose ASA as one of the 100 best NGOs of

the world. 2008ASA was awarded

with the “Banking at the Bottom of the

Pyramid” by the Financial Times, London, UK and

International Finance Corporation (IFC)

jointly.

2005ASA was placed in

all the six categories with exceptionally best results in the

Microfinance Information Exchange

Washington (MIX) report titled 2005

MIX. Global 1000: MFI League Table

presented in the MCS 2006,

Canada.

2007ASA was selected as the best MFI of

the world by the renowned Forbes

Magazine, USA.


MILESTONES

Small Business Loan and Voluntary Savings were introduced. 1997

Introduced microfinance as core program. 1991

Small Savings program was introduced for the clients enabling them to save at least small amount of money in their savings accounts to use that during hardships. 1993

Loan Insurance was introduced to shield the inheritors of the clients on the latters' sudden demise against the risk in paying back the outstanding loan amount.

1994

Interest free flood rehabilitation loan was introduced.

1995

Savings provision against loan insurance was introduced. 1996

ASA declared itself as a completely grants/donor free organization. 2000

Small Entrepreneur Lending (SEL) was introduced for the small entrepreneurs. A product named Hardcore Poor Loan was introduced for the poor unable to receive small loan. Mini Life Insurance (Female) was introduced to provide the poor with insurance coverage to meet emergencies due to any sudden death within a loan cycle.

2003


1991MicrofinanceProgramwas started.

2006

2014

2012

2011

2008

2007

2005

Non-financial program was initiated out of program surplus.

Sanitation program was launched to offer technical knowledge and soft loan for installing offset toilets to poor.

Health Program was initiated to offer health service to the poor and underprivileged at their doorsteps.

Physiotherapy Program was commenced to provide treatment for preventing perennial sufferings of the

poor and the underprivileged.

Primary Education Strengthening Program was started to assist the children of poor households.

ASA introduced quicker and safer Remittance Service to servepeopleat

theirdoorsteps.

Agribusiness Loan was introduced to promote all kinds of agro-related businesses and assist the small

farmers in their cultivation.

Small Loan (Male) was introduced to help the male members of clients to run different projects. Monga (Lack of Employment) Loan was also

introduced in Monga affected areas. Short Term Loan Program was arranged for clients' to meet urgent needs. Long Term Savings (LTS)

was introduced to support clients during hardships.

Education Loan was introduced for the members' children who study in different educational institutions. Business Development Service loan was introduced to rehabilitate/ reorganize the income generating activities of the members affected by

unexpected situations/ such as by cyclone, fire, theft, etc.2004


2000Achievedself-sufficiency anddonors-free status.

2006Non-financial Programwas introduced out ofprogram surplus.

THE GOVERNING BODY

Mr. Monjurul Ahsan Bulbul is a noted journalist and media personality of the country. He served in a number of national newspapers and television channels including Daily Sangbad, Daily Jugantor, Boishakhi TV, ATN Bangla etc. Currently he serves Ekushe Television as its Chief Executive Officer and Editor in Chief.

MR. MONJURUL AHSAN BULBULMEMBER

Tahrunnessa Abdullah is a prominent social activist of the country. She received the Magsasay Award for her excellent contribution in the field of social activities. Mrs Abdullah has been associated with ASA since its inception.

MRS. TAHRUNNESSA ABDULLAHCHAIRPERSON

Dr. Muhammad Nurul Islam is a former Professor of the University of Dhaka. He is an educationist by profession and has been associated with social welfare activites for many years.

PROF. DR. MUHAMMAD NURUL ISLAMMEMBER

Mrs. Rabeya Akhter, Member of ASA Governing Body is a social activist and philanthropist. She has been associated with various social services and development activities for the wellbeing of the poor and downtrodden.

MRS. RABEYA AKHTERMEMBER


Mr. Md. Enamul Haque is a renowned microfinance specialist and social activist. He has been involved in the NGO sector of Bangladesh for about four decades. He served to the leading NGOs: ASA, Proshika, CDF etc. Presently, he serves as the COO of an international microfinance company based in the Netherlands.

MR. MD. ENAMUL HAQUEMEMBER

Dr. Dalem Chandra Barman is a retired professor of the University of Dhaka. Mr. Barman currently serves as the Vice Chancellor of ASA University Bangladesh. As a senior teacher of social science Mr. Barman has been associated with development and cultural activites.

PROF. DR. DALEM CHANDRA BARMANMEMBER

Md. Shafiqual Haque Choudhury is the Founder and President of ASA. He served as an Advisor to the Ministry of Agriculture, Youth, Sports and Cultural Affairs of the Government of Bangladesh during 2006-2007.

MD. SHAFIQUAL HAQUE CHOUDHURYMEMBER SECRETARY

Ms. Shirin Shanti is a borrower-member of ASA as well as a small entrepreneur. She joined ASA as a landless member few years back. Ms. Shanti successfully graduated herself as a small entrepreneur with the support of ASA.

MS. SHIRIN SHANTIMEMBER

MEMBER


MANAGEMENT TEAM

EXECUTIVE VICE PRESIDENTS

CONSULTANTS

SENIOR DIRECTORS

SENIOR DEPUTYPRESIDENT

M ABDUL AZIZ

PRESIDENT

MD. SHAFIQUALHAQUE

CHOUDHURY

HR

SHEIKHMOZAHAR UDDIN

Land & ExternalRelations

MD. MIZANURRAHMAN

HR & Tower

Md. KhalilurRahman Siddiqui

Law & Security

SM Sazzat Ali

Fisheries

MD. SERAJ UDDIN

Agriculture

M. A. SALAM

Program

DR. MD. TWYAFURRAHMAN

MSME

DR. NIRMALCHANDRA BHAKTA

HR

MR. SUSHILROY

Operation

MD. FAYZERRAHMAN

Operation,Accounts,

Finance & MIS

MD. TAUFIQULISLAM

CHOWDHURY


30ASA

ORGA

NOGR

AM

Acco

unts

Team

Fina

nce

&M

IS T

eam

FRS

Unit

Oper

atio

nDi

visi

on

DIVI

SION

DIST

RICT

REGI

ONBR

ANCH

JDDs

Prog

ram

JDD

Acco

unts

Dire

ctor

sPr

ogra

m

SR. D

EPUT

YPR

ESID

ENT

PRES

IDEN

T

GOVE

RNIN

G BO

DY

GENE

RAL

BODY

S. C

onsu

ltant

Law

&Se

curit

y

Chie

f of

Audi

t

Agric

ultu

reW

ing

Sani

tatio

nUn

itR&

ESe

ctio

n

JDD

Com

mun

icat

ions

JDD

GMD

ICT

Heal

thPr

ogra

mHR

Divi

sion

LOGI

STIC

SPE

SP &

Trai

ning

Win

g

S. C

onsu

ltant

Land

&Ex

tern

al Re

lation

s

Audi

tTe

amGM

DTe

amRi

skM

anag

emen

t

JDAc

coun

tsJD

Fina

nce

&M

IS

EVP

Oper

atio

n

Chie

f of

GMD

Co-o

rdin

ator

ICT

CHO

DDM

SME

S. C

onsu

ltant

sHR

S. C

onsu

ltant

ASA

Tow

erDi

rect

orHR

S. C

onsu

ltant

Agric

ultu

reCo

nsul

tant

Fish

erie

s

S. D

irect

orOp

erat

ion

S. C

onsu

ltant

MSM

E

EVP

Oper

atio

n, A

ccou

nts,

Fina

nce

& M

IS

ASA

Tow

er

EVP

HR &

Ope

ratio

n

ASA is a pioneering organization in digitalization of microfinance operations in the country, perhaps in the world too. The organization went into digitalization process gradually in phases starting from 2006 for managing its whole microfinance operations. For doing that ASA developed a unique digital microfinance management software called ASA Microfinance Management System (AMMS) which is an integrated in-house developed software solution. It has fully automated ASA’s micro-credit program enabling it in managing microcredit program efficiently. AMMS has provided ASA an edge in the microfinance sector of Bangladesh. AMMS helped ASA as well microfinance operation in paving ways for unlocking new era of microfinance. The underlying features of AMMS as noted below explain how it has become an inevitable tool for modern days of microfinance operation.

� It helps to record day to day activities in electronic format and helps to resolve management needs with customized reports;

� It provides a robust solution to meet all-round needs of MFI operations with multilevel MIS (Management Information System) and FIS (Financial Information System) reports;

� It facilities micro-credit program parameters tailored to suit different products, interest rates, amortization, tenure and other conditions without any hassle;

� It also helps branches and central unit users to forecast their future capital needs and plan accordingly.

ASA IN DIGITAL ERA



AMMS is a combination of decentralized and centralized system: Branch AMMS and Central AMMS which brought significant comfort in reporting of ASA operations effectively. Branches log in their daily operations in Branch System and at the end of the month they upload it to the Centralized System. Hence, at the end of the month ASA centralized system get a broad picture of its overall operations, fully online with less or minimal hassle.

AMMS GOES MOBILE WITH GREEN TECHNOLOGY The root level operations of ASA went on paperless using Android Tabs from April 2018. As a result, all Loan Officers (LO) collect daily instalments and deposits from clients using tabs equipped with AMMS Mobile App instead of manual paper registers. And informations collected in this App are also synced with AMMS automatically increasing speedy transaction and data accuracy.

MAKING AMMS ONLINEASA has been working for an online version of AMMS to unify all its business needs into a single web based

in-built application. It has been coined as ASA Microfinance Management System Online (AMMS Online) and it’s scheduled to be launched in the mid of 2019. This would be a giant step towards modelling ASA as a Tech-focused organization. AMMS online is a service based web application where service layer interoperates with Centralized database and ensure greater integrity, data security and robustness.

Accessing instant information is a pressing need in modern business and AMMS online will fulfil that need with a blend of state-of-the-art and modern tech tools. In almost real time AMMS online produces all information in a single interface for reporting and business needs.

AMMS online will fulfil all business need of ASA and help to analyse information more efficiently. It would also help to find bottlenecks and gain productivity through enhanced MIS reports. This would be huge achievement for ASA both in technology and business perspective.


PERSONNEL MANAGEMENT AND INFORMATION SYSTEM (PMIS)ASA developed a web based human resource management system referees as PMIS (Personnel Management and Information System). It helps organization to manage employees by offering comprehensive informations of the staff and facilitates faster and flawless processing personnel recruitment promotions, demotions, increment, benefits, transfer, final settlement etc.

TAX MANAGEMENT SYSTEMASA also developed a Tax Management System accessible from web. It facilities to record employees tax related information along with tax calculation features developed as per government updated rules and regulations. By using this system ASA generates each employee’s individual tax calculation and tax return forms. Tax management system added enormous amount of simplicity in tax management process.

INFRASTRUCTURE DEVELOPMENTASA made significant investment in 2017 to

strengthen IT infrastructure of the organization further to match with ever changing information technology. A 3-tier standard Data Center with an area of 650 SFT has been established for ensuring data availability, security and keep up time 24/7/365 for Microfinance management operation and ICT systems of the organization. The organization has procured a number of high end servers to manage and operate Microfinance management system and other applications for business automation.

ASA has also invested in ICT security infrastructure through implementation of security products, like: Router, Next Generation Firewall, Internet proxy Gateway, and Digital security certificate for all web applications. This will secure its internal network and system infrastructure by way of giving protection of data that flows to and from the internet, restrict sensitive financial information sharing to the outside world. The organization will continue to invest in innovations and ensure that Information Technology systems evolve in line with new trends and deliver value to customers and thus help the business of the organization.


ASA has been widely recognized as the most efficient and sound microfinance institution in the world. It is the first organization to demonstrate that serving the poorest people in the world can be done in a sustainable manner by offering microloans with the most competitive interest rates. ASA started Technical Assistance program decades ago to offer support in establishing microfinance program to the countries with significant portion of population living under the poverty line. Over the period, a number of NGOs or MFIs around the world have successfully implemented microfinance program with the management support of ASA. Since 2007, it has been providing technical assistance through ASA International (ASAI), a Netherlands based company operating microfinance commercially in a number of countries in Asia and Africa. Nearly two hundred officials of ASA having long and profound experience on microfinance operation are working in thirteen countries as consultants under ASA International.

The countries that so far adopted the strategy to work with ASAI are India, Pakistan, Sri Lanka, Myanmar, the Philippines, Kenya, Ghana, Nigeria, Tanzania, Rwanda, Sierra Leone, Uganda and Zambia. At the end of June 2018, the outstanding loan of

ASAI amounted to USD 316 million covering 1.9 million people mostly belonging to low-income category through 1557 branches.

About two million clients of 13 countries mostly belonging to lower middle class and poor segments of the society are receiving crucial assistance from the

programs and activities of ASA International.

ASA IN THE GLOBAL MICROFINANCEDOMAIN

Sierra Leone


Pakistan

India

Myanmar

Philippines

Sri lanka

Nigeria

Ghana

Rwanda

Tanzania

Uganda

Kenya

Sierra Leone

Zambia



Indeed, the core responsibility of an MFI is to provide financial services such as loan, savings, and necessary guidance to the clients for optimum use of the loan money in their chosen businesses or income generating activities for better and sustainable livelihoods. ASA in addition to rendering all those services to its client-members has undertaken a number of nonfinancial programs like primary healthcare, physiotherapy, education, sanitation, safe water supply, winter clothes etc.

ASA considers that poor and low-income people need finance plus services for combatting the evils of poverty. Financial assistance alone is inadequate to give poor people enough leverage for bringing financial emancipation needed for containing poverty. Taking all these into consideration, ASA undertook non-financial programs out of its own resource. Millions of underprivileged people living in the remote areas of the country receive benefit from these services. Further, measures have been taken for maximizing the quality and increasing outreach of the non-financial services phase by phase.

Millions of underprivileged have been provided with important services such as primary healthcare, education assistance,

physiotherapy, sanitation, safe water supply, etc. by the non-financial

programs of ASA. The organization spent BDT 30.37 crore (USD 3.58

million) for implementing these programs during 2017-18.

NON-FINANCIAL PROGRAMSRENDERING ALL-INCLUSIVE SERVICE TO THE POOR


ASSISTING POOR CHILDREN IN GETTING ENROLLED INSCHOOLS AND PURSUING EDUCATION

This is one of the largest non-financial program of ASA that has been offering tuition and counselling assistance to the children of the poor households with a view to assisting them in completing homework and providing better learning facilities which in turn help in reducing dropout. Under the program a number of 10,629 Learning Centers have been established in the comparatively backward areas especially in rural areas. For each centre, a mentor or teacher is appointed for imparting lessons to the tiny learners. Students of pre-primary, grade 1 and grade 2 level are eligible to get enrolled in those Learning Centres. Each centre consists of students ranging from 20 to 30. A session of two hours duration is arranged every day and six days in a week before or after the school time.

In these learning centres, mentors assist the students to accomplish the homework or lessons given in their respective schools. This is immensely helpful for students as most of the parents are ether illiterate or haven’t sufficient time to assist their kids in learning. Besides, students are also taught to recite poems, involve in cultural activities such as singing, dancing and acting in the centres. During July 2017 to June 2018, 275,000 students were enrolled in Primary Strengthening Program of ASA. A survey was conducted on the students that were enrolled in this program to assess impact of the program on the students. It revealed that most of the student attained better score in their school exams and dropout declined significantly.

275,000 children of poor households from across rural Bangladesh received

tuition assistance in ASA primary education strengthening program

conducted in about 10,629 centers.

PRIMARY EDUCATIONSTRENGTHENING PROGRAM




ASA HEALTH PROGRAM PROVIDING HEALTHCARE TOTHE UNDERSERVED COMMUNITY.

Good health is a pre-condition for an active life and well-being. Ensuring good health and healthy life for all citizen is a massive tusk and it is quite impossible for the government to comply all requirements alone. In spite of increasing government budgetary allocation for health sector still a segment of country’s population is deprived of the essential health facilities. For helping under-served community ASA introduced Health Program a couple of years back aiming at delivering health services to the grassroots people living in hard to reach areas of the country. Millions of people of the above noted segment got health services under the ASA Health Program. ASA health service provided through the following centres and programs:

1) Primary Health Centres2) Combined Health-Education Program3) Health Awareness Program4) Chunarughat Health Complex and5) Kakina Health centre

ASA Health program provided health services to about one million people

during 2017-18. Besides, under its awareness program, over server million

people, predominantly poor women were given health education for

maintaining healthy life by preventing communicable discuses.


ASA PRIMARY HEALTH CENTRESTo provide primary health service to the common people of the grassroots ASA founded 55 Primary Health Centres throughout the country. Each centre has a medical assistant who offers primary healthcare at the centre as well as at collection centres or in group meetings of ASA borrowers. Women, children and elderly people are the prioritised service recipients while patients in general are also entitled to receive treatments in those centres.

Besides, each centre has a medical dispensary where some essential medicines are sold. Patients may purchase medicines from the dispensary at

subsidized prices. During 2017-18 a number of 250,000 people received services from the Primary Health Centres of ASA.

HEALTH AWARENESS PROGRAMASA conducts an awareness program for maintaining good health for its clients the awareness program which has been fruitfully assists people to lead a healthy life by preventing communicable diseases. Under the program 12 different health topics are chosen for a year. Each one is picked for discussion in group meetings in a month and in this process all the topics are shared with the members of ASA in a year.


HEALING PHYSICAL DISABILITIES AND RETRIEVING ABILITY TO DO WORK

Physiotherapy is a unique program of ASA that was introduced in 2012 for providing this modern medical service to the people suffering from various organ disorders, pains, paralysis and perennial diseases causing loss of ability to do work and prolong ailments. The poor are the worst victims of those ailments as their professions normally involve hard labour. As a result, common people suffer from above categories of diseases. And the number of the patients are increasing gradually as treatment facilities for the diseases are not available at the grassroots level. Although, some physiotherapists are found in district headquarters but poor people

have little access to their services for lack of affordability. As a result, getting proper treatment for physical disability remains out of reach for the poor. And this apparently leads them into critical ailments causing in many cases premature death.

ASA Physiotherapy Service renders service to a large number of people every year by arranging camps in remote rural areas. People are enormous benefited from the service as they get opportunities to consult qualified and well-trained physiotherapists at their

door-steps. During 2017-2018 period a number of

67,131 patients were offered physiotherapy treatment. Among those patients 50,075 were female and 17,056 male.

PHYSIOTHERAPYSERVICE


Our country has achieved a laudable coverage in sanitation over the years. Bangladesh is successful in reducing open defecation to 1 percent today. Despite this progress, 40 percent people still lack access to improved hygienic toilets. Unimproved toilets are posed a considerable threats for the public health. These are to be replaced by the improved ones.

ASA Sanitation Program was launched to address the problems of sanitation in our country. The program adopts multi-dimensional approaches such as train up masions and sanitary entrepreneurs for making and marketing improve sanitary materials and provide soft loans and counselling to the consumers and users. With assistance from ASA Sanitation Program 1,72,749 families had the opportunity to build improved offset toilets in their houses and 7,77,371 users got the opportunity of availing proper sanitation. The program disbursed BDT 1.19 billion as loan among clients during 2017-18.

ASA Sanitation Program assisted 1,72,749 households in installing offset

toilets during 2017-18.

SANITATION PROGRAM




ASA Safe Water Supply Program installed seven Deep tube-wells in

various localities of the country during 2017-18 to facilitate safe water supply to

650 households.

Over 80 percent population of Bangladesh has access to universal drinking water. About 20% of the population of hard to reach areas are suffering from acute safe water crisis. Inhabitants of those localities have to endure a very tough life without having minimum safe drinking water. In consequence, inhabitants of those areas are exposed to health vulnerability for drinking contaminated water. ASA has undertaken a program to supply safe water to same of these water-scarce areas.

Under this Program, seven Dee Tubewells with pipelines and overhead tanks were installed in Madon and Barhatta of Netrokona, Isakhati and Billubari of Barisal, Uttar Colony of Chunarughat, Habiganj districts during 2017-18 fiscal year. 650 households enjoy safe drinking water out of those Deep tubewells. For implementing the project, ASA spent BDT 11 million.

In addition, a project has been finalized to provide safe drinking water in some safe water-scarce localities under the Sunamganj, Pirojpur, Jessore, Khulna, Panchgrah districts in upcoming year. For implementing the plan, ASA has planned to spend BDT 10 million out of its own resource.

SAFE WATER SUPPLY PROGRAM


ASA considers establishing good governance as the most crucial factor for the balanced development and poverty alleviation. Based on this consideration the organization has taken some necessary initiatives such as establishing Grievance Mitigation Department, Clients Protection Unit and Assigning Information Officers and Appeal Authorities in central and grassroots levels. These wings have been operating in the organization to look after, address and comply issues with the objective of ensuring good governance and following code of conduct by the officials.

GRIEVANCE MITIGATION DEPARTMENT

ASA introduced Grievance Mitigation Department (GMD) in 2014 to address the issues relating to deprivation and dissatisfactions of the employees created out of misconduct and misbehaviour of their senior officers. Grievance Mitigation Department has been formed as an independent unit headed by a member of the Governing Body of the organization. If any staff of ASA is mistreated or abused by the seniors then the aggrieved individual may take up the matter with the Grievance Mitigation Department seeking justice and protection.

Although, ASA has a well-defined written operational manual and a code of conduct incidence of misbehaviour and exploitation sometimes happen. GMD resolves the complaints through conducting independent and impartial inquiry to every single issue. During 2017-18, a number of 82 complaints were registered with the GMD and among those 80 issues were solved following compliance of due process.

GOOD GOVERNANCE


CLIENTS PROTECTION UNIT

ASA established Clients Protection Unit with an aim to safeguard and uphold rights of its clients against all sorts of humiliation, prejudice and mistreatment by its staff and officials.

If any member of ASA feels that her/his dignity, rights are disregarded or unattended by the staff or official of the organization then the victim may lodge complaint to CPU in writing or through e-mail or mobile phone against the wrongdoers.

For the purpose, complaint boxes have been fixed in front of all the ASA branches. A number of 14 complaints were lodged with CPU and all those were settled after proper investigations during 2017-18.

UPHOLDING RIGHT TO INFORMATION ACT

ASA appointed Information Officers and Appeal Authorities in all tiers of the organization in compliance of the guideline provided by the Information Commission of Bangladesh.

Branch Managers and District Managers have been assigned as Information Officers at the branch and District level respectively. An officer also has been appointed as Central Information Officer at ASA Central Office in this respect.

Any citizen of the country can seek information regarding operation, programs, activities and similar other relevant matters on ASA and he or she shall be provided with the information if it is not termed otherwise restricted legally. A significant number of information seekers were provided with required particulars according to Right to Information Act by ASA during 2017-18.


RESEARCH


THE IMPACT EVALUATION OF ASA MICROFINANCE PROGRAM:ASA has over the years, set a trend of periodical assessment process to determine the impact of its program on the life and mode of livelihood of its members. Since 1999, it conducted 8 studies and the present study has been undertaken in continuation of the trend. It is planned to conduct this study in 12 ASA districts. The result of this study will be available before the mid of the next year. The outcome of this study is likely to identify the impact of ASA microfinance program on its beneficiaries, new facets of challenges and to recommend measures for reinforcing the ongoing efforts and initiatives.

MEASURING WOMEN EMPOWERMENT OF ASA BORROWERS: A SCORECARD APPROACH:A study is underway to evaluate the impact of ASA Microfinance Program particularly on women empowerment. The research includes 1,366

respondents of 14 districts throughout the country based on random sampling method. The findings of this study will reflect the women empowerment through four indicators (social mobility and communication, self-confidence and self-esteem, control over asset and access to decision making). The outcome of this research is likely to be published in 2019.

Existing Risks of ASA Short-term Loan.ASA introduced ‘Short-term Loan’ in 2013 to provide more meaningful assistance to the marginal farmers of the country. This product has gained popularity from the beneficiaries. But at present the number of loan default cares and the portfolio risk are increasing drastically. The main objective of this research was to demonstrate the risk of ASA Short-term Loan in respect of existing organizational policy. This study was carried out on 339 respondents or beneficiaries from 17 ASA Branches

Research and Evaluation Section of ASA carried out a number of studies during 2017-18. Most of these research works were conducted to evaluate the outcome of its programs under implementation.STUDIES &

of three districts. The outcome of this research is likely to be published at the end of 2018.

The Long-term Impact Evaluation of ASA Primary Education Strengthening Program (PESP):A research on the topic of Long-term Impact Evaluation of ASA Primary Education Strengthening Program is conducted to find out the current situation of PESP students in term of students drop-out who were enrolled with PESP in 2011, 2012 and 2013. To achieve the objectives, this study conducted the survey among 1870 primary school students across the 17districts of Bangladesh from July 2017 to December 2017. The objective of this study included the factors contributed to dropout. The detail report will be available at the end of 2018.

Identifying the Potential Sources of Income for the Development of the People of Haor Region:The adverse socio-economic status of the people living in Haor areas may be realized briefly from a popular proverb saying among the people living in the Haor regions "Borshakale Nao Ar Shuknakale Pao". It means "boats during the monsoon and feet during the dry season". The Haor region falls in 47 upazilas of seven districts in Bangladesh. And at least 11 of the upazilas, inhabited by well over two million people, virtually have no road network and

remain under water for over six months of a year. Characteristically, hoar has plenty of agricultural land, abundance of fish and with much other potential. Despite having huge opportunities, Haor people in Bangladesh are experiencing many difficulties mostly disrupted by natural calamities and becoming marginalized.

The complexity of different challenges restrict their livelihood options—holding them back from joining the journey towards national progress. Keeping this in mind, a study is underway in Haor areas of three districts of Bangladesh to explore the factors associated with the vulnerable socio-demographic status, lives and livelihood scenario of the Haor people and their dependency on its natural resources.

This study also includes the sustainable livelihood options and earning opportunities of the Haor people. This study is expected to come up with some recommendations regarding mode of income and loan products consistent with the ecosystem of Haor region. The study is expected to be completed by December of 2018.


To celebrate the country’s feat of becoming developing nation ASA observed Special Service Week on 20-25 March 2018 chalked out by the government through befitting event and activities. About 25 ASA district offices arranged health and physiotherapy camps in their respective office premises. Participating districts are: Barisal, Patuakhali, Chandpur, Laxmipur, Faridpur, Kishoreganj, Manikganj, Shariatpur, Bagerhat, Khulna, Kustia, Satkhira, Jamalpur, Mymensingh, Netrokona, Sherpur, Joypurhat, Natore, Sirajganj, Gaibandha, Kurigram, Lalmonirhat, Rangpur, Thakurgaon and Habiganj. From those camps free treatments including diabetic test, measuring blood pressure and physiotherapy services were offered to the underprivileged and common people. Altogether, 24,239 individuals were given health services by those camps.

People’s representatives and government officials had been invited to inaugurate those health camps. In addition, a large number employees of ASA took part in the processions for marking the event in various districts with due spirit and enthusiasm.

CELEBRATING BANGLADESH’SIMPROVEMENT AS DEVELOPINGNATION.

ASA arranged health and physiotherapy camps in its 25 district office premises

on 20-25 March 2018 for celebrating the country’s achievements in connection with becoming a developing nation. About 25000 people were offered

healthcare and physiotherapy services by those camps.




In recent years, Development fairs have been arranged by the Government in district headquarters for showcasing the ongoing development activities undertaken by both the GOs and NGOs. Over the years, ASA has been participating in the development fairs in different districts by setting up stalls. This year, the Development Fairs were arranged on 11-13 January 2018 and ASA participated in fairs of 10 districts headquarters. The districts are: Dhaka, Chittagong, Cumilla, Sylhet, Barisal, Jhalokhati. Mymensingh, Bogura, Thakurgaon and Bhola. The stalls of ASA were decorated tastefully using attractive colours, materials and handicrafts.

In ASA stalls, various products and commodities produced by ASA clients were put on display. Besides, reports and reading materials including newsletters, booklets, leaflets, posters, handbills on the organization were also distributed free of cost. A documentary film on overall ASA programs and activities was presented in the stall in a big screen. Moreover, in each ASA stall separate booths were established for providing cost-free primary healthcare and physiotherapy to the interested visitors.

ASA stalls were visited by a large number of visitors during the fair days. About 25,000 visitors availed of primary health services such as diabetic check, measuring blood pressure, physiotherapy treatment etc.

PARTICIPATING INDEVELOPMENT FAIRS

Government has been organizing Development Fairs in district and upazilla headquarters throughout the country for

showcasing ongoing development initiatives in the country. ASA has also been participating in the development

fairs with enthusiasm.


ASA observed International Women’s Day 2018 through various events. Celebration of the day was kicked off by releasing white pigeons (symbol of peace) and colourful balloons at the premise of ASA Tower at Shyamoli, Dhaka. ASA President Md. ShafiqualHaque Choudhury formally inaugurated by setting free the pigeons and releasing balloons in the morning. Dignitaries including Mrs.Rebeya Akther Choudhury, Member of ASA Governing Body, Senior Deputy President of ASA Mr. M Abdul Aziz, Vice Chancellor of ASA University Prof. Dr. Dalem Chandra Barman were present along with officials and staff of ASA on the occasion.

A discussion meeting was also held to mark the day. ASA President Md. Shafiqual Haque Choudhury was present in the function as chief guest. In his speech ASA President praised the country’s achievement for the development of women. In spite of that, he mentioned, we should keep up our efforts for the further improvement of the women. He said that men should be more careful and aware about the rights and dignity of the women. He also opined that it is not possible get rid of patriarchal psyche towards women overnight but we should continue to practice sincerely and meticulous by to support women development.

ASA President reaffirmed that the prime goal of ASA is to empower women as well as ensure their welfare. Among the 7.6 million current beneficiaries of ASA 96 percent are women. He wished that economic emancipation of women would accelerate their ultimate liberty.

CELEBRATING WOMEN’S DAY




Hope for the Poorest (HP) was established by ASA in 2004 as a sister concern for assisting underprivileged people living in underdeveloped and hard to reach areas. Over the years it undertook and implemented a number programs meant for assisting climate victims and inhabitants of the coastal belts. HP so far provided various services such as primary healthcare, potable water, sanitation and hygiene to a large number of deserving people. Schools and slums of the disaster prone areas were provided with sanitary toilets and drinking water facilities. It also installed toilets in the public places such as bus stoppages and markets for use of the common people and pedestrians.

Currently, HP is exclusively working for developing entrepreneurship of sanitary napkins aiming at curbing health hazards of the poor adolescent girls and women. Besides, it also undertakes a program for harvesting rain water in the coastal districts of Barguna and Satkhira. ASA and Simavi, Netherlands assist HP with fund and technology for implementing the project.

SISTER ORGANIZATIONHOPE FOR THE POOREST

WaSH program of HP provided assistance to 2,00,000 people of coastal

areas and its sanitary napkin plans to benefit 1,50,000 poor adolescent girls

and women.


A CENTRE OF ACADEMIC EXCELLENCE

ASA University Bangladesh (ASAUB) started its journey on 23 October 2006 to promote academic excellence as part of ASA’s national commitment for the development of the country. The founder and President of the ASA, Md. Shafiqual Haque Choudhury, a former Adviser to the Caretaker Government of Bangladesh, took the initiative to establish a private university to ensure quality education for the students belonging to low-income families at an affordable cost.

Under the leadership of the present Vice Chancellor, Professor Dr.Dalem Chandra Barman, founder Chairman of the Department of Peace and Conflict Studies, University of Dhaka, ASAUB has been making sincere efforts to transform its mission into reality.

From the very beginning, ASAUB took initiative to provide quality education to its students with an objective to bring a positive change in our country. The university admits students at three different semesters in a year providing them opportunity to join a suitable program at their convenience. At present, the university offers the following programs under its four faculties:

� Faculty of Business Administration- BBA, MBA (Regular & Executive)

� Faculty of Science & Engineering- M.PH, B. Pharm

� Faculty of Arts & Social Sciences- BA (Hons) in English, MA in English, BSS in Applied Sociology

� Faculty of Law- LLB (Hons), LLM

Alongside academic courses, ASAUB has a number of clubs meant for promoting the co-curricular activities of the students. ASAUB has a unified Central Club amid active presence of activity-wise units such as Debating Club, Cultural Club, Photography Club, Sports and Games Club, and Language Club as well as the Departmental Clubs which include English Club, Business Club, Law Club, Pharmacy Club and Sociology Club. ASA University Bangladesh has a dedicated team of highly qualified faculty members having long teaching experience. About 2500 students are at present enrolled in various departments under its four faculties.

ASA UNIVERSITY BANGLADESH




ASA Medical Assistants Training School (ASA MATS), Chunarughat, was founded as a sister concern of ASA in 2013 at South Narapati, a remote village under ChunarughatUpazila of Habiganj district. Since establishment, ASA MATS has been striving to equip students with modern medicinal knowledge and practices. ASA MATS has taken all out measures to ensure imparting quality health education with the help of experienced and qualified faculty members and by procuring latest medical equipment. It offers four-year medical diploma course to the eligible HSC-passed students having a science background. Currently, 175 students in four batches are pursuing diploma course in ASA MATS and most of them hail from the low-income families.

ASA MATS


KEY FIGURES AS ON JUNE 2018

: Primary 95.99% 7,273,531: Special 3.57% 270,404: Sanitation 0.01% 1,125: MSME 0.02% 1,156: SMAP 0.16% 12,297: Crossbred Milking Cow 0.25% 18,842 7,577,355Number of Longterm Savings A/C 7,519,375

Total number of members

Total number of Capital Buildup Savings A/C 7,437,795Savings (end balance in BDT)

: Primary 40.33% 32,679,115,930: Special 6.04% 4,898,074,810: Sanitation 0.02% 15,740,862: MSME 0.04% 34,297,926: SMAP 0.12% 99,476,552: Crossbred Milking Cow 0.30% 242,406,969: Regular Savings 46.86% 37,969,113,049: LTS 44.38% 35,964,919,775: CBS 8.76% 7,097,784,985 BDT. 81,031,817,809Total number of active loans (end of the month) :

: Primary Loan 95.93% 6,237,907: Special Loan 3.57% 232,137: Sanitation Loan 0.01% 966: MSME 0.02% 1,072: SMAP 0.17% 11,220: Crossbred Milking Cow 0.30% 19,493 6,502,795

Disbursed (cumulative) 1,899,922,119,167Realized (cumulative) 1,723,383,016,877

Loan Outstanding (Principal) : BDT. 161,991,988,019

Rate of Recovery (cumulative) : 99.53%PAR (%)-1Day: 4.94%

Number of Employees : 26,147* Financial Figures are in BDT

* 1 USD = 83.70 BDT

Total number of Branch Offices 3,042Total number of Villages 66,255Total number of Upazila / Thana 511Total number of Districts (All Districts in Bangladesh) 64Total number of active groups 299,170


FINANCIALS

INCOME 2017-18 2016-17 2015-16

Service Charges 38,629.67 31,500.43 25,122.43

Banks Interest 2,334.64 1,578.34 2,173.45

Others 555.24 541.10 360.34

Processing Fees 0.20 0.12 0.40

Total 41,519.75 33,619.99 27,656.62

The income of ASA during 2017-18 was BDT 41,519.75 million (USD 496.05 million) including service charges, bank interests, loan processing fees, realizing of debts, consultancy fees, interest of PF loan and house property, proceeds of selling publications etc.

INCOME

EXPENDITURE

The total expenses of ASA during 2017-18 was BDT 21,459.97 million (USD 256.39 million) including personal expenses, office expences, financial costs, loan loss provision, income tax and other costs.

EXPENDITURE 2017-18 2016-17 2015-16

Personnel expenses 9,443.69 8,939.37 8,717.32

Income Tax 823.20 567.90 351.20

loan loss provision 2,655.18 1,629.65 934.00

Financial costs 6,732.41 5,318.68 3,790.83

Office and others expenses 1,805.49 1,700.21 1,448.19

Total 21,459.97 18,155.81 15,241.54

1%

0%

93%

6%

12%

44%4%

9%

31%

Service Charges Banks interest Others Processing Fees

Financial costsPersonnel expenses loan loss provisionOffice expenses Income Tax


SOURCES OF FUND 2017-18 2016-17 2015-16

Retained earnings 112,683.10 92,621.98 77,151.81

Debt Management Reserve (DMR) 6,976.67 4,588.59 3,237.44

Loan Security and Risk Fund 5,374.65 5,008.59 4,430.44

Members' savings 81,031.82 66,619.30 50,684.03

Borrowing from FIS 1,043.03 3474.18 911.18

Other Fund and Reserves 14,362.44 11,455.03 9,035.18

Total 221,471.71 183,767.68 145,450.30

Since 2000, ASA has been operating on self-finance without receiving donation of any sorts from local or international agencies. The funding sources of ASA comprise retained earnings (including reserve fund), members

savings, loan security and risk fund, loans etc. At the end of June 2018, the total fund of ASA was approx. BDT 221,471.71 million (USD 2,646.02 million).

SOURCES OF FUND

37%

51%

2%3%

0%

7%

Retained earnings

Debt Management Reserve (DMR) Loan Security and Risk Fund

External sources Members' savings

Other sources



* Amount in BDT, 83.70 BDT = 1 USD

Productivity/quantitative indication

22 Cost per money lent 0.037 0.038 0.047 0.047 0.060

23 Cost per loan made 1,452 1,364 1,433 1,193 1,294

24 Portfolio in arrear 3.92% 2.37% 2.01% 2.17% 2.87%

25 Portfolio at Risk (PAR) 4.94% 3.89% 2.82% 2.87% 3.66%

26 Non-Performing Loan Ratio-90 Days 4.08% 2.27% 2.11% 2.20% 3.08%27 Loan Loss ratio 0.17% 0.20% 0.32% 0.19% 0.23%

28 Reserve Ratio 4.31% 2.97% 2.69% 3.00% 3.54%

29 Effective yield on avg portfolio (Annualized) 24.39% 22.91% 24.16% 23.68% 25.22%

30 Effective yield on avg assets (Annualized) 18.93% 18.99% 19.08% 16.31% 16.29%31 ROE (Return on Equity) 19.26% 17.94% 17.25% 17.05% 16.85%32 AROE (Adjusted Return on Equity) 9.81% 10.71% 9.82% 9.13% 8.24%

33 ROA (Return on Assets) 9.83% 9.32% 9.43% 9.63% 9.60%

34 AROA (Adjusted Return on Assets) 5.01% 5.57% 5.37% 5.16% 4.80%35 Operating Self Sufficiency (OSS) 194.59% 186.79% 183.55% 194.21% 194.07%

36 Financial Self-Sufficiency (FSS) 132.73% 138.35% 135.14% 135.57% 131.96%

37 Total expenses/Total average assets (Annualized) 10.52% 10.94% 11.57% 10.04% 10.21%

38 Financial Cost/Total average assets 3.30% 3.21% 2.88% 2.67% 2.41%39 Adjustment cost/total average assets 4.82% 3.76% 4.06% 4.47% 4.80%

40 Loan loss cost/Total average assets (Annualized) 1.30% 0.98% 0.71% 0.63% 0.77%41 Operating cost/Total average assets (Annualized) 5.34% 6.20% 7.49% 6.48% 6.87%42 Total Equity (own fund)/assets 51.05% 51.97% 54.64% 56.51% 57.00%

43 Total Equity (Own fund)/ liabilities 104.30% 108.21% 120.46% 129.92% 132.58%44 Capital adequacy Ratio 67.02% 58.23% 62.39% 71.23% 87.60%

Savings

21 Total Savings (in million) 81,032 66,619 50,684 37,238 28,378

Comparative Financial PerformanceSl Information 2017-18 2016-17 2015-16 2014-15 2013-14

1 No of Branches 3,042 2,959 2,933 2,932 2,931

2 Total No. of Group 299,170 301,654 285,097 247,247 224,2193 No. of Members (in million) 7.58 7.84 7.43 6.31 5.03

4 No. of Active Loans (in million) 6.50 6.79 6.21 5.36 4.445 No. of Active Borrwer (in Million) 6.16 6.53 6.15 5.34 4.44

6 No. of Loan Officer (end of the year) 15,260 15,116 14,943 13,028 11,1957 Average No. of members per LO 497 519 497 485 449

8 Average No. of Loan per LO 426 450 415 412 397

9 Average No of members per branch 2,491 2,651 2,533 2,153 1,716

Loan Portfolio10 Yearly total loan disbursed (in million) 296,814 269,586 209,057 146,386 102,640

11 No of loan disbursed (in million) 7.51 7.54 6.88 5.80 4.73

12 Average loan size 39,535 35,761 30,395 25,259 21,706

13 Total loan outstanding (in million) 161,992 154,711 120,279 87,723 59,290

14 Current Portfolio 153,985 148,700 116,891 85,202 57,118

15 Overdue (past due) (in million) 6,353 3,674 2,422 1,906 1,701

16 Avg. outstanding balance in term of Loan 24,911 22,769 19,376 16,357 13,340

17 Portfolio per Loan Officer (in million) 10.62 10.23 8.05 6.73 5.30

18 Portfolio per Staff (in million) 6.20 5.98 4.73 3.83 2.92

19 Total Amount written off (in million) 267 279 330 140 130

20 Total Loan Loss Reserve (in million) 6,977 4,589 3,237 2,633 2,098

Year endedon 30 June 2018

Indepdendent Auditor’s

Report

Independent Auditor’s ReportTo the Members of General Body of ASA

We have audited the accompanying financial statements of ASA (ASA Activity and ASA Tower) which comprise the Consolidated Statement of Financial Position as at 30 June 2018, The Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Fund, Consolidated Statement of Cash flows and Consolidated Statement of Receipts and Payments for the year then ended and a summary of significant accounting policies and other explanatory notes.

The financial statements of ASA Activity and ASA Tower have been audited separately and reports thereon have been issued separately.

Management’s Responsibilities for the Consolidated Financial StatementsManagement of ASA is responsible for the preparation of these financial statements that give a true and fair view in accordance with the basis of accounting described in note # 03 to the financial statements and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standard on Auditing (ISA). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain an audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation’s of financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the organisation’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

OpinionIn our opinion, the financial statements referred to above give a true and fair view of the financial position of ASA (ASA Activity and ASA Tower) as at 30 June 2018, and of the result of its operations, its cash flows and its receipts and payments for the year then ended in accordance with the basis of accounting described in note #03 to the financial statements.

AZIZ HALIM KHAIR CHOUDHURYChartered Accountants

Exclusive Correspondent Firm of PKF International

A H K C

Corporate Office : House # 64 (1st & 2nd Floor), Road # 12A, Dhanmondi, Dhaka-1209, Tel: +88-02-9145017, Fax: +88-02-9137097, E-mail: [email protected], [email protected]

www.ahkcbd.com


We also report that:

We have obtained all the information and explanations which to the best of our knowledge and belief were necessaryi)for the purposes of our audit and made due verification thereof;

In our opinion, proper books of account as required by law and MRA Act and Rules have been kept by the entity soii)far as it appeared from our examination of those books; and

iii. In our opinion, the statement of financial position and statement of comprehensive income dealt with by the reportiii)are in agreement with the books of accounts.

14 August 2018 Aziz Halim Khair ChoudhuryDhaka Chartered Accountants

Aziz Halim Khair ChoudhuryChartered Accountants


A H K C


ASAConsolidated Statement of Financial Position

As at 30 June 2018

ASSETSNon-Current Assets

Note 30.06.2018Taka

30.06.2017Taka

Property, Plant and Equipment 6 1,091,840,433 773,763,635Loan to Other Micro Credit Organizations 7 45,263,650 43,385,092 Long Term Portion of Staff Housing Loan to Employees 8 3,117,841 10,896,414

Current Assets 221,770,111,541 184,344,217,305

Capital Fund 17 101,353,786,341 83,327,300,116Statutory Reserve Fund 18 11,329,312,082 9,294,680,175

Non-Current Liabilities 97,459,142,602 80,493,423,674

Current Portion of Staff Housing Loan to Employees 8 11,586,000 15,097,170Loan to Members 9 161,991,988,019 154,711,240,571Loans, Advances and Prepayments 10 6,611,805,887 5,556,452,178Advance Income Tax 11 638,566,922 434,769,611Rent & Service Charge Receivable 12 - 32,370,877Cash in Hand 13 382,371,014 19,724,247Cash at Bank 14 10,197,570,308 6,621,592,568Investment in Fixed Deposits Receipts (FDR) 15 41,895,896,831 16,920,581,639Other Current Assets 16 40,326,560 32,388,443

Total Assets 222,910,333,465 185,172,262,446

Reserves for interest on Members Savings 19 14,362,437,682 11,455,028,433Loan Security & Risk Fund (LSRF) 20 5,374,647,884 5,008,594,853Members' Savings Deposit 21 76,980,226,918 63,288,336,249Employees' Group Benefit Fund 23 419,589,720 438,043,470Employees' Security Deposit 24 322,240,397 303,420,670

Current Liabilities 12,768,092,440 12,056,858,481

Members' Savings Deposit 21 4,051,590,890 3,330,965,066Loan from Development Partners 22 1,043,028,891 922,586,777Employees' Group Benefit Fund 23 22,083,669 23,054,919Employees' Security Deposit 24 16,960,021 15,969,509Current Account with Employees' Gratuity Fund 25 (199,715,697) 2,572,609Current Account with Employees' Provident Fund 26 (1,505,423) 7,653,190Earnest Money & Security Deposits 27 2,021,121 4,981,558Provision For Expenses 28 838,217,050 596,598,445Accounts Payable 29 18,737,260 12,291,479Loan from Commercial Bank 30 - 2,551,597,222Loan Loss Provisi on 31 6,976,674,658 4,588,587,707

Total Fund and Liabilities 222,910,333,465 185,172,262,446

FUND AND LIABILITIES

Fund

14 August 2018Dhaka Aziz Halim Khair Chowdhury

Chartered Accountants

This is the Consolidated Statement of Financial Position referred to in our separate report of even date.Component wise separate Statements of Financial Position are given in Annexure-A/1

The annexed notes form an integral part of the Consolidated Statement of Financial Position.



A H K C


ASAConsolidated Statement of Comprehensive Income

For the year ended 30 June 2018

INCOME

NOTES 2017-2018Taka

2016-2017Taka

Service Charge Income 32 38,629,673,790 31,500,428,028Loan Processing Fee 198,685 121,045Bank Interest 33 2,334,638,274 1,578,336,265Other Operating Income 34 121,006,472 160,882,562Non Operating Income 35 434,229,293 380,218,411

Total Income 41,519,746,513 33,619,986,310

Provision for Income Tax 28.1 823,200,000 567,904,105Loan Loss Expense 31 2,655,181,162 1,629,651,701Financial Cost 36 6,732,405,635 5,318,682,979 Operating Expenses 37 10,902,678,635 10,254,659,353Non Operating Expenses of House Property 38 61,304,407 60,103,052

Expenditure before charging Social project expenses 21,174,769,839 17,831,001,191 Excess of Income over Expenditure 20,344,976,674 15,788,985,120

Total 41,519,746,513 33,619,986,310

EXPENDITURES

The annexed notes form an integral part of the Consolidated Statement of Comprehensive Income.

AppropriationTranferrred @ 10% to Statutory Reserve Fund 2,034,497,667 1,578,898,512 Tranferrred @ 90% to Capital Fund 18,310,479,007 14,210,086,608Less: Non-Operating Expenses of Social Projects 40 285,200,943 324,821,450

18,025,278,063 13,885,265,159

20,059,775,730 15,464,163,671



A H K C

14 August 2018Dhaka Aziz Halim Khair Chowdhury

Chartered Accountants

This is the Consolidated Statement of Financial Position referred to in our separate report of even date.Component wise separate Statements of Financial Position are given in Annexure-A/1


ASAConsolidated Statement of Changes in Fund


ParticularsCapital Fund

2017-2018Taka

2016-2017Taka

Balance as at 01 July 2017 83,327,300,116 69,436,631,035Prior year adjustment 1,208,162 5,403,924

Adjusted Balance of Capital and Statutory Reserve Fund 83,328,508,278 69,442,034,958Transferred to Reserved Fund - -

Income over Expenditure during the year 18,310,479,007 14,210,086,608

Balance before charging Social Projects expenses 101,638,987,285 83,652,121,566Expenditures of Social Projects 285,200,943 324,821,449

Balance as at 30 June 2018 101,353,786,341 83,327,300,116

Balance as at 01 July 2017 9,294,680,175 7,715,181,226Prior year adjustment 134,240 600,436

Adjusted Balance of Capital and Statutory Reserve Fund 9,294,814,415 7,715,781,663Income over Expenditure during the year 2,034,497,667 1,578,898,512

Balance as at 30 June 2018 11,329,312,082 9,294,680,175

Total Fund as at 30 June 2018 112,683,098,424 92,621,980,291

Statutory Reserve Fund



A H K C


ASAConsolidated Statement of Cash Flow


Note 2017-2018Taka

2016-2017Taka

The annexed notes form an integral part of the consolidated financial statements.Component wise Statements of Cash Flows are given in Anneure-A/3

Cash Flow from Operating ActivitiesA.

Excess of Income over Expenditure 20,344,976,674 15,788,985,12041Other Cash Flow From Operating Activities and Non-cash Item 4,913,286,355 3,222,997,486

Loan to Other Micro Credit Organizations (1,878,558) 692,342Loan Disbursements (269,586,285,000)(296,814,151,000)Loan Collections 234,875,181,999289,266,309,340Advance Income Tax (638,566,922) (514,864,767)

Net Cash used in Operating Activities (16,213,292,820)17,069,975,890

Cash Flow from Investing ActivitiesB.

Acquisition of Property, plant & equipment (479,693,423) (305,658,979)Investment in Fixed Deposits Receipts (24,975,315,192) 784,634,633

Net Cash Flow from Investing Activities (25,455,008,615) 478,975,654

Cash Flow from Financing ActivitiesC.

Loan Received/(Repayment) from Development Partners 107,413,224 834,630Loan from Commercial Bank (2,551,597,222) 2,500,000,000 Savings Deposits 14,412,516,494 15,935,271,711 Loan Security & Risk Fund (LSRF) 366,053,032 578,157,976Increase/(Decrease) in Other Funds 42 (10,728,297) 4,813,348

Net Cash Flow from Financing Activities 12,323,657,232 19,019,077,664

Net Surplus/ (Deficit) in Cash and bank balances (A+B+C) 3,938,624,507 3,284,760,498Cash and Bank balances at the beginning of the year 6,641,316,815 3,356,556,317

Cash in Hand 19,724,247 13,908,207Cash at Bank 6,621,592,568 3,342,648,109

Cash and Bank Balance at the end of the year 10,579,941,322 6,641,316,815



A H K C


ASAConsolidated Statement of Receipts and Payments


RECEIPTS

Note 2017-2018Taka

2016-2017Taka

Opening Balances: 6,641,316,815 3,356,556,317

Cash in Hand 13 19,724,247 13,908,207 Cash at Bank 14 6,621,592,568 3,342,648,109

Loan Recovered : 327,895,983,131 266,375,610,027

Principal 289,266,309,340 234,875,181,999 Service Charges 38,629,673,790 31,500,428,028

Sales of property, plant & equipment 6 2,315,192 -Installment received from Other Micro Credit Organizations 7 10,421,442 12,992,342Housing Loan Realised from Staff 8 19,054,202 17,590,929Loans, Advances and Prepayment Realised 10 8,019,080,049 6,822,987,675Encashment of Fixed Deposit Receipt (FDR) 15 8,849,004,538 12,147,745,367Sale of medicine 16.1 1,621,304 1,303,103 Misappropriated Money Refund 16.3 2,022,158 231,737 Loan Security & Risk Fund (LSRF) (Subscription) 20 1,356,328,182 1,248,910,930 Members' Savings 21 55,707,296,723 48,866,789,924Loan from Development Partners 22 1,030,000,000 730,000,000Employees' Security Deposit 24 14,514,011 13,038,135Employee's Gratuity Fund 25 805,858,865 390,055,172 Employee Providend Fund 26 2,771,128,852 900,151,481 Earnest Money and Security Deposit 27 1,130,788 72,594Received against Accounts Payable 29 7,225,273,617 7,851,479,514Loan from Commercial Bank 30 2,500,000,000 4,500,000,000Bank Interest 33 2,334,638,274 1,578,336,265Other Operating Income 34 121,006,472 160,882,562Non Operating Income 35 343,282,454 291,241,896Receipts from ASA Technical Service 35.2 114,708,726 144,153,514Loan Processing Fee 198,685 121,045Rent & Service Charge Receivable 32,370,877 -Rent Received 38,048,317 27,881,484Service Charge Received from Tenant 31,103,249 12,451,028Reimburshment of Expenses (Adjusted to Capital Fund) 1,342,402 5,752,235

Total 425,869,049,323 355,456,335,275



A H K C


PAYMENTS

NOTES 2017-2018Taka

2016-2017Taka

Purchased Property, Plant and Equipment 6 479,693,423 319,250,141Loan to Other Micro Credit Organizations 7 12,300,000 12,300,000Loan Disbursed (Principal) 9 296,814,151,000 269,586,285,000 Loans & Advances 10 9,074,433,757 8,004,618,552Advance Income Tax 11 638,566,922 514,864,767Investment in Fixed Deposit Receipt (FDR) 15 33,824,319,730 11,363,110,734 Purchase of Medicine 16.1 1,505,076 1,665,222Advance Rent 16.2 76,635,616 61,430,276Misappotion money by employees 16.3 3,498,285 478,672Loan Security & Risk Fund (LSRF) (Payment) 20 990,275,151 670,752,954Members' Savings 21 41,294,780,229 32,931,518,213Loan from Development Partners 22 922,586,776 729,165,370Employees' Group Benefit Fund 23.1 19,425,000 6,850,000Employees' Security Deposit 24 8,697,251 8,966,789Employees' Gratuity Fund 25 1,008,147,170 404,830,394Employee Providend Fund 26 2,780,287,464 896,237,586Earnest Money & Security Deposit 27 4,091,225 360,197 Payment aganist Provision for Expenses 28 159,728,735 41,935,709Payment against Accounts Payable 29 7,218,827,837 7,846,304,300Installment Paid to Commercial Bank 30 5,051,597,222 2,000,000,000 Paid against Expenses of ASA Technical Service 35.2 100,677,913 122,576,135 Financial Cost 3,797,974,019 2,819,977,463

Interest on Members' Savings 3,659,620,165 2,682,801,139 Interest on Commercial Bank Loan 77,430,556 80,972,221 Interest on Loan from Development Partners 33,016,145 35,014,097 Interest on Employees' Security Deposit 7,386,444 3,171,892 Interest on Provident Fund (Current Account) 20,520,709 18,018,114

Supervision and Management Expenses 10,721,707,257 10,146,718,534

Personnel 37 8,957,869,2489,457,540,756 Office Expense 1,264,166,501 1,188,849,286

Paid against Non-Operating Expenses of Social Projects 40 285,200,943 324,821,450 Closing Balances: 10,579,941,322 6,641,316,815

Cash in Hand 13 382,371,014 19,724,247 Cash at Bank 14 10,197,570,308 6,621,592,568

Total 425,869,049,323 355,456,335,275

The annexed notes form an integral part of the consolidated financial statements.Component wise Statements of Receipts and Payments are given in Anneure-A/4



A H K C

ASA Tower, 23/3, Bir Uttam ANM Nuruzzaman Sharak, Shyamoli, Dhaka, Bangladesh

Phone:+88 02 58155614, +88 02 58155609, +88 02 58155622, +88 02 58155627

Email:[email protected]

Advisor:Md. Shafiqual Haque Choudhury

Editor:M Abdul Aziz

Script & Co-ordination:Habibur Rahman

Assistant:Md. Shahidul Islam

Design:3p Communication

Photography:Imtiazul Haq

part 1 - asa.org.bd · asa: 40 years on 01-06 achievement highlights 2017-18 08 asa becomes the apex mfi of bangladesh 09 asa msme program 11 savings program 13 loan security and

Documents