Auditors’ Report

We have audited the accompanying Consolidated Balance Sheet of SAJIDA foundation as at 30 June 2007 and also the related Consolidated Income and Expenditure Statement and Case flow Statement for the year then ended. The preparation of the financial statements are the responsibility of SAJIDA Foundation’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with Bangladesh standards on Auditing (BSA). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial Statements are free of material mis-statements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the Financial Statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overalll Financeial statements presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all materials respect, the financial position of SAJIDA Foundation as at 30 June 2007 and the results of its operations for the year then ended on that date in conformity with generally accepted accounting principles.

J. R. CHOWDHURY & CO. 09 October 2007 Chartered Accountants

Moni Singh-Forhad Smriti Bhaban, 21/2 Purana Paltan, 4th Floor, Dhaka-1000 Phone: 9561280, Fax: 9557787, Mobile: 01711 539071 SAJIDA Foundation Consolidated Balance Sheet as at 30 June 2007

Micro Socio-Economic Finance Development PROPERTY AND ASSETS Notes June 2007 June 2006 No. Program Program Taka Taka Taka Taka

Fixed Assets 5 Cost less depreciation 2,674,927 17,475,629 20,150,556 12,019,648 Deferred Expenditur - 2,662,599 2,662,599 2,733,283 Investments 6 54,798,842 55,461,889 110,260,731 64,971,854 Loan to Beneficiaries 7 374,689,598 - 374,689,598 261,773,491 Current Assets 8 5,108,201 8,815,080 13,923,281 21,455,993 Cash and Bank Balances 9 47,126,955 3,316,597 50,443,552 23,238,615 Net Assets 484,398,523 87,731,794 572,130,317 386,192,884

FINANCED BY Fund Account 10 111,461,609 75,307,047 186,768,656 177,007,178 Long Term Liabilities 11 158,409,271 - 158,409,271 69,083,332 Members' savings deposits 12 114,261,289 - 114,261,289 91,369,727 Current Liabilities HELP Program 7,829,519 - 7,829,519 - Loan Loss Provision 11,756,697 - 11,756,697 10,191,525 Disaster Management Fund (DMF) 1,642,666 - 1,642,666 684,367

Other Current Liabilities 13 79,037,472 12,424,747 91,462,219 37,856,755 484,398,523 87,731,794 572,130,317 386,192,884

The attached notes from an integral of these accounts.

Executive Director Deputy Director (Finance) As per annexed report of even date.

J. R. CHOWDHURY & CO. Dhaka, 09 October 2007. Chartered Accountants SAJIDA Foundation Consolidated Income and Expenditure Statement for the year ended to 30 June 2007

Micro Finance Socio-Economic Program Development Program June 2007 June 2006 INCOME Taka Taka Taka Taka

Grants received from BRAC - 208,321 208,321 170,207 Dividend from Renata Limited - 1,071 1,071 17,070,600 Donation - 5,322,698 5,322,698 8,247,730 Donation from MF (HELP) - 146,400 146,400 - Health income - 21,520,034 21,520,034 10,972,446 Bank interest 462,124 32,952 4,95,076 28,625 Interest income on investment 15,54,765 - 15,54,765 512,234 Pass books and loan processing fees 1,328,368 - 1,328,368 2,661,248 Service charge on loan 86,597,970 - 86,597,970 65,689,524 Other income 71,397 324,380 395,777 70,053 Overhead cost - 540,299 540,299 - 90,014,624 28,096,155 118,110,779 105,422,667 EXPENDITURE Personnel expenses 35,929,283 18,027,484 53,956,767 37,832,981 Administrative expenses 13,779,127 10,308,532 24,087,659 16,136,634 Auditors' fees 75,000 97,000 172,000 213,375 Consultancy fee 3,000 55,000 58,000 2,569,781 Legal fees 10,510 346,800 357,310 24,250 Survey 76,388 649 77,037 - Financial expenses 12,419,632 - 12,419,632 12,280,332 Poverty assessment/workshop 56,226 - 56,226 92,427 Micro credit fair 154,178 - 154,178 86,164 Office renovation - 600,000 600,000 500,000 School expenses - 776,843 776,843 586,819 Health expenses - 6,458,427 6,458,427 1,559,097 Loan loss provision 1,703,760 - 1,703,760 643,865 Debt management fund expenses 865,983 - 865,983 673,567 Loss account (fixed assets & other) 112,427 293,630 406,057 829,704 Deferred expenses-amortized - 1,974,504 1,974,504 1,346,244 Depreciation 660,847 3,773,446 4,434,293 2,756,556 65,846,361 42,712,315 108,558,676 78,131,796 Excess of income over expenditure 24,168,263 (14,616,160) 9,552,103 27,290,871 90,014,624 28,096,155 118,110,779 105,422,667

Executive Director Deputy Director (Finance) As per annexed report of even date.

J. R. CHOWDHURY & CO. Dhaka, 09 October 2007. Chartered Accountants SAJIDA Foundation Consolidated Cash Flow Statement for the year ended 30 June 2007

2007 2006 Taka Taka A Cash Flow from Operating Activities Surplus for the period 9,552,103 27,290,871 Add: Amount considered as non-cash items: 4,434,293 2,813706 Depreciation for the period 1,205,722 688,410 Liabilities for expenses 1,974,504 1,346,244 Deferred expenses - 673,567 DMF - 643,865 Loan loss reserve 1,703,760 - Loan loss Provision 1,194,765 - Loss Account 3,700,332 - Interest on Savings 3,234,626 279,564 Adjustment 17,448,002 6,445,356 27,000,105 33,736,227 Less: Amount used cash items Loan disbursed to beneficiaries (746,840,000) (527,767,000) Loan realized from beneficiaries 633,710,314 489,801,643 Advance received/paid (5,663,461) (2,986,602) Medicine purchase (5,624,255) (3,436,989) Medicine sales 4,008,329 2,246,257 Gratuity and other loan received 276,126 73,332 Special loan paid (690,000) (260,000) Tax, VAT etc. 27,971 (24,353) Donation in Advance 2,387,997 - Optical Frame Purchase (89,400) - Sale of Optical Frame (cost) 63,980 - Payable Account (BRAC Interest) (463,812) - Hijack Money (83,785) - Member Money - (113,454) Interest paid to Member - 2,916,279 Building and renovation (1,903,820) (4,079,526) (120,883,816) (43,630,413) (93,883,711) (9,894,186) SAJIDA Foundation Consolidated Cash Flow Statement for the year ended to 30 June 2007

2007 2006 Taka Taka B Cash Flow from Investing Activities LLPI - (1,000,000) DMFI 6,225 (673,567) DFI - (1,263,614) Members savings fund - (5,700,000) Interest receivable on investment - (332,784) Fixed assets purchase (12,845,414) (5,776,204) Fixed assets sales 73,440 2,500 Investment (43,284,733) - Liabilities for expenses (1,828,213) - Deposits and security - (18,400) (57,878,695) (14,762,069) C Cash Flow from Financing Activities Borrowed fund received 238,665,211 27,100,000 Borrowed fund refunded (88,006,667) (24,675,367) Member’s savings deposits 84,102,602 76,285,946 Member’s savings refund (64,821,217) (60,324,618) Non-members savings fund - 976,169 Insurance fund - 938,073 Provident fund received - 2,572,200 Provident fund payment and transferred - (4,257,734) Gratuity fund 1,404,365 3,415,397 Zakat and Darud sharif fund (720) 162,781 Health fee received/refund (209,850) - HELP Card Fee received 15,768,980 - HELP Card Fee Expense & Transfer (7,836,313) - Gratuity fund paid (19,200) - Others Fund Account (79,848) - Inter-project loan - (3,171,779) 178,967,343 19,021,068 D Net increase/decrease 27,204,937 (5,635,187) Add : Cash and bank balance at the beginning of the year 23,238,615 28,873,802 Cash and bank balance at the end of the year 50,443,552 23,238,615 SAJIDA FOUNDATION Consolidated notes to the accounts to 30 June 2007

1.0 Background SAJIDA Foundation is a non-government, non-profit voluntary organization registered with - Joint stock Companies and Firms, Bangladesh. registration no. S-1403 (37)/91 dated 08/05/1991. - Department of Social Welfare of the Government of the People’s Republic of Bangladesh vides registration no. Dha-03061, dated : 16/02/1994. - NGO Affairs Bureau, Government of the People’s Republic of Bangladesh, registration no. 984 dated 31/10/1995. Objectives - To provide effective, flexible and responsible financial services to the urban, semi-urban and rural poor women. - To increase employability of member families by giving them education and vocational training. - To provide training in different business skill, such as product development, quality assurance and bookkeeping. - To train and create entrepreneurs to attain a level where banks deem them creditworthy. - To establish child-care and educational centers so that mothers have the time to earn a living. - To provide low-cost preventive and curative health services, including pathology, surgery and specialist services. - To provide professional advice and legal support for family conflict resolution.

2.0 Corporate information - Name of the organization : SAJIDA Foundation - Year of establishment : 1987 - Legal entity : Registered with Jointstock Companies and firms, Bangladesh Registration No. S-1403(37)/91 dated : 08/05/1991. Department of Social Welfare of the Government of the People’s Republic of Bangladesh, vide registration no. Dha-03061, dated : 16/02/1994. NGO Affairs Bureau, Government of the People’s Republic of Bangladesh, vide registration no. 984 dated 31/10/1995. - Nature of operations (program) : Micro Finance Program, Education Program Health Program Health Education and Life Security Program Chars Livelihood Program - Statutory audit conducted upto : 30 June 2006 - Name of statutory auditor for the last year : J.R. Chowdhury & Co., Chartered Accountants - No. of executive committee meeting held by July 2006 to 30 June 2007 : 06 (Six) - Date of last AGM held : 11/08/2007 2.1 List of Executive Committee Members

Name Educational Designation Present address qualification Ms. Sajida Humayun Kabir M.A. Chairperson 7/A New Baily Road ,Ramna, Dhaka-1217 Mr. Syed S. Kaiser Kabir M.Phil(OXFORD) Vice- Monarch Chairperson House # 74, Road # 21, Apartment # C-3, C-4 ,Banani, Dhaka Md. Shafiul Alam FCA Treasurer Renata Limited House # 450, Road # 31 New DOHS, Mohakhali, Dhaka Ms. Zahida Fizza Kabir Masters in Executive Monarch International & Intercultural Director House # 74, Road # 21 Management Apartment # C-1, Banani, Dhaka Mr. Owais Salam B.Com. CA (Inter) Member do Ms. Erum Marium MBA Member Monarch House # 74, Road # 21 Apartment # C-3, C-4, Banani, Dhaka Ms. Sajeda Farisa Kabir Barrister at- law Member Monarch Advocate, Supreme Court House # 74, Road # 21 Apartment # C-2, Banani, Dhaka Mr. Junayed Ahmed Chowdhury Barrister at- law Member do Advocate, Supreme Court Mr. Nurul Islam B.Com Member House # 58/E, West Rajabazar PGDMP Indira Road, Tejgaon, Dhaka Ms. Khaleda Fahmi M.A (Double) Member 67 Outer Circular Road Moghbazar, Dhaka

3.0 Basis of preparation of financial statements

3.1 Basis of accounting These financial statements have been prepared on a going concern basis under historical cost convention. Accrual basis of accounting was followed in recording and reporting except service charges which were recorded on cash basis.

4.0 Summary of significant accounting policies a. Currencies The assets, liabilities, fund account, income and expenditure of the organization are stated in taka currency b. Revenue recognition I) Service charges Service charges from beneficiaries/end users are collected at 12.5%. These loans are collected in 45 equal weekly installments. Service charges are accounted for on cash basis. ii) Donation Donation is taken into account when it is actually received. c) Dividend income Dividend income is taken into account when it is actually received. c. Interest and other expenses - Interest expenses are recognized on cash basis. - Other expenses are recognized on accrual basis. - Interest is paid on savings account @ 5% on average members' savings balances. d. Fixed assets Fixed assets are stated at cost less depreciation. e. Depreciation Depreciation on fixed assets is charged on straight-line method at rates varying from 10% to 15% considering the expected useful lives of the assets. Full year depreciation on addition to fixed assets is charged irrespective of the date of acquisition. f. Comparative figures Current year's figures were compared with 12(twelve) month’s figures. g. Loan loss provision Loan loss provision is maintained in the under noted manner which is provided from PKSF: Standard loan 1% Sub-Standard loan 5% Doubtful 60% Bad loan 100% h. Policy on loan to beneficiaries Generally loans are disbursed to group members having the requisite savings and who have regular participation in the group meetings.

I. Policy on savings collection Savings are collected on weekly basis. j. General Figures have been rounded off to the nearest taka. 5.0 Fixed Assets

Cost Depreciation Disposal/ Written Down Written Down Total at Balance at Addition transfer Rate Balance at Charge Adjustment Total at Value at Value at 30 June Particulars 1 July during the during of 1 July for the during 30 June 30 June 30 June 2007 2006 year the year depreciation 2006 year the year 2007 2007 2006 Taka Taka Taka Taka Taka Taka Taka Taka Taka Taka

Furniture and fixtures 3,051,455 1,398,600 (201,660) 4,248,395 10% 930,686 424,849 (3,679) 1,351,856 2,896,539 2,120,769

Equipment 15,603,018 8,146,721 (3,300,253) 20,449,486 15% 6,463,900 2,932,027 (348,297) 9,047,630 11,401,856 9,139,118

Vehicle 1,012,955 6,556,694 (562,956) 7,006,693 15% 253,194 1,051,005 - 1,304,199 5,702,494 759,761

Motor Cycle - 104,200 - 104,200 15% - 15,630 - 15,630 88,570 -

Bi-Cycle - 71,879 - 71,879 15% - 10,782 - 10,782 61,097 -

19,667,428 16,278,094 (4,064,869) 31,880,653 7,647,780 4,434,293 (351,976) 11,730,097 20,150,556 12,019,648 Socio-Economic Micro Finance Development Program Program June 2007 June 2006 Taka Taka Taka Taka

6. Investments Members Savings 27,826,750 - 27,826,750 7,720,000 Depreciation Fund 1,844,761 - 1,844,761 1,263,614 Loan Loss Provision 6,473,250 - 6,473,250 3,020,000 Disaster Management Fund (DMF) 1,355,941 - 1,355,941 673,567 LRP DMF 10,141,650 - 10,141,650 - HELP 5,700,000 - 5,700,000 - Shares in Renata Limited - 32,546,389 32,546,389 32,546,389 Bonus Shares in Renata Limited - 19,415,500 19,415,500 19,415,500 Gratuity Fund - 3,500,000 3,500,000 - Interest receivable 1,456,490 - 1,456,490 332,784 54,798,842 55,461,889 110,260,731 64,971,854

7. Loan to Beneficiaries: Balance at 1 July 261,773,491 - 261,773,491 223,808,134 Disbursed during the period 746,840,000 - 746,840,000 527,767,000 Collection during the period (633,710,314) - (633,710,314) (489,801,643) Adjustment during the period (213,579) - (213,579) - 374,689,598 - 374,689,598 261,773,491

8. Current Assets: Advance against office rent 1,071,722 3,460,640 4,532,362 3,948,669 Advance against salary 29,500 - 29,500 - Advance against Purchase 117,079 102,400 219,479 759,203 Stock of medicine - 2,045,098 2,045,098 1,217,880 Optical Frame - 25,420 25,420 - Health Treatment loan - 20,630 20,630 21,630 Receivable (Health Fee) - 639,900 639,900 - Personal Loan 177,614 - 177,614 - Motor Cycle Advance 3,402,021 479,455 3,881,476 1,106,316 Bi-Cycle Advance 43,775 - 43,775 - Security Deposit 85,200 34,000 119,200 - Loan to other Program 3,905 - 3,905 7,087,636 Micro Finance Socio-Economic Program Development Taka Program June 2007 June 2006 Taka Taka Taka Other Receivable 177,385 - 177,385 - Special Loan - 980,004 980,004 676, 000 Gratuity Loan - 179,000 179,000 66,000 Loan to CP - - - 3,430,957 Loan to EDP - 30,711 30,711 2,219,850 Loan to EP - 5,300 5,300 - Loan to HP - (780) (780) 200,000 Receivable(Gratuity Fund) - 134,740 134,740 - Advance income tax - 678,562 678,562 678,562 Revolving fund - - - 43,290

5,108,201 8,815,080 13,923,281 21,455,993 9. Cash and bank balances Cash in hand 51,294 6,269 57,563 22,566 Cash at bank

Name of bank Account #

Agrani Bank Gulshan Branch, Dhaka CA-33005153 6,233,676 - 6,233,676 40,136

BRAC Bank Limited CA-1501100132468002 (new) Gulshan Branch, Dhaka 4,432,513 - 4,432,513 601,217 CA-150180243888 (old) Bank CA-10 1337084 01 66,135 - 66,135 53,600

do CA-18 13374084 02 1,181,433 - 1,181,433 98,092

Islami Bank Bangladesh Ltd. Rahmatpur Branch, Dhaka CA-1080 1,362,124 - 1,362,124 377,387

Rupali Bank Limited Zinzira Branch, Dhaka CA-2031 1,151,550 - 1,151,550 186,693

Rupali Bank Limited Postogola Branch, Dhaka CA-632 3,311 - 3,311 3,861 Socio-Economic Micro Finance Development June 2007 June 2006 Program Name of bank Account # Program Taka Taka Taka Taka

Social Investment Bank Ltd. Hassnabad Branch, Dhaka CA-6254 1,030,812 - 1,030,812 390,241

Agrani Bank Posta Branch, Dhaka CA-1239 2,178,982 - 2,178,982 328,167

Pubali Bank Limited Bashaboo Branch, Dhaka CA-2835 1,675,281 - 1,675,281 332,412

Sonali Bank CA-200203008 Baridhara Branch, Dhaka 3,465,708 - 3,465,708 254,949

Rupali Bank Limited Zinzira Branch, Dhaka CA-2057 1,123,886 - 1,123,886 94,225

Uttara Bank Limited Jatrabari Branch, Dhaka CA-2036 1,228,182 - 1,228,182 582

Dutch Bangla Bank Limited CA-119-110-2893 Dania Branch, Dhaka 1,095,779 - 1,095,779 862,946

Al-Arafa Islami Bank Ltd. CA-33003679 Pagla Branch, Narayangonj Br. 1,216,660 - 1,216,660 887,319

Al-Arafa Islami Bank Ltd. CA-33009406 Uttara Branch, Dhaka 1,195,157 - 1,195,157 344,537

Sonali Bank CA-575 Ati Bazar Branch, Dhaka 323,637 - 323,637 102,606

Social Investment Bank Ltd. CA-1849 Fatulla Branch, Narayangonj 1,264,523 - 1,264,523 166,216

Janata Bank CA-1264 Sarulia Branch, Dhaka 204,882 - 204,882 173,964

Sonali Bank CA-1114 Lalbagh Branch, Dhaka 1,825,964 - 1,825,964 163,888 Socio-Economic Micro Finance Development Name of bank Account # Program Program June 2007 June 2006 Taka Taka Taka Taka

Rupali Bank Limited CA-2248 Zinzira Branch, Dhaka 1,016,449 - 1,016,449 89,277

Islami Bank Bangladesh Ltd. CA-20501770100202814 Gulshan Branch, Dhaka 1,475,890 - 1,475,890 234,664

Uttara Bank Limited Posta Branch, Dhaka CA-1262 499,987 - 499,987 174,581

Sonali Bank Ati Bazar, Dhaka CA-709 514,852 - 514,852 32,192

BRAC Bank Limited CA-150480005830 Keranigonj Branch, Dhaka 137,960 - 137,960 92,152

Dutch Bangla Bank Limited CA-1191103142 Dania Branch, Dhaka 282,711 - 282,711 44,062

Agrani Bank CA -3315 1,240,309 - 1,240,309 - Rayer Bazar Branch,Dhaka

Ducth Bangla Bank Ltd CA-111-110-7501 Chasara Branch,N.Gonj 1,103,016 - 1,103,016 -

Janata Bank CA- 1631 Goodnail, Shiddhirgonj, Narayangonj. 896,673 - 896,673 -

Sonali Bank CA -S-311 Kolatia Branch,Keranigonj, Dhaka 841,751 - 841,751 -

Janata Bank CA- 2315 Sonamia Market, Shiddhirgonj, 393,293 - 393,293 - Narayangonj.

Dutch Bangla Bank Ltd. CA- 123-101-3504 Board Bazar Branch,Gazipur 1,191,360 - 1,191,360 - Socio-Economic Micro Finance Development Name of bank Account # Program Program June 2007 June 2006 Taka Taka Taka Taka

Pubali Bank Limited CA- 48047 College Gate Branch, Gazipur 528,363 - 528,363 -

Islami Bank Bangladesh Limited CA- 551 Shyampur Branch, Postagola. 585,432 - 585,432 -

Islami Bank Bangladesh Limited CA- 337 Nawabgonj Branch, Nawabgonj. 184,074 - 184,074 -

A. Ltd CA- 755472000 Bandura Branch,Bandura Dhaka 415,757 - 415,757 -

Pubali Bank Limited CA- 534 Kamorgonj Branch,Galimpur Dhaka 139,131 - 139,131 -

Uttara Bank CA- 1541 Posta Branch, Dhaka 718,735 - 718,735 -

BRAC Bank CA- 150480025748 Keranigonj Branch, Dhaka 1,353,077 - 1,353,077 -

Standered Bank CA- 3001008 Ekoria (Keranigonj) Branch, Dhaka 126,290 - 126,290 -

Pubali Bank CA- 3059 Bashaboo Branch, Dhaka-1214 423,480 - 423,480 -

Al Arafa I. Bank Ltd CA- 003533005849 Pagla Branch,Narayangonj 295,812 - 295,812 -

Social Investment Bank CA- 130007602 Fatulla Branch,Narayan Gonj 451,064 - 451,064 -

Standard Chartered Bank CA-18 1337084 01 Kawran Bazar Branch, Dhaka - 57,949 57,949 13,204,639

Agrani Bank CA-33005161 Gulshan Branch, Dhaka - 23,111 23,111 25,418 Socio-Economic Micro Finance Development Name of bank Account # Program Program June 2007 June 2006 Taka Taka Taka Taka

Al-Arafa Islami Bank Ltd CA-233029708 Motijheel Br. Dhaka - 4,155 4,155 4,155

Agrani Bank CA-200015136 Zinzira Branch, Dhaka - 68,320 68,320 3,390,808

Agrani Bank CA-201626 Zinzira Branch, Dhaka - 58,190 58,190 240,556

Islami Bank Bangladesh Ltd. CA-2050127090002209 Zinzira Branch, Dhaka - 393,714 393,714 183,321

Islami Bank Bangladesh Ltd. CA-20502 (Narayangonj) Zinzira Branch, Dhaka - 22,350 22,350 -

IFIC Bank Limited CA-0734030296 Shantinagar Branch,Dhaka - 75,808 75,808 37,186

Agrani Bank, CA-33005467 Gulshan Branch, Dhaka - 2,515,847 2,515,847 -

Agrani Bank CA-713 Islampur, Jamalpur - 90,884 90,884 -

47,075,661 3,310,328 50,385,989 23,216,049 47,126,955 3,316,597 50,443,552 23,238,615

10. Fund Account Balance at 1 July 87,171,206 89,835,972 177,007,178 136,156,632 Prior years adjustment 122,140 87,235 209,375 12,587,300 Adjustment during the year - - - 972,375 Excess of income over Expenditure for the year 24,168,263 (14,616,160) 9,552,103 27,290,871 111,461,609 75,307,047 186,768,656 177,007,178 Socio-Economic Micro Finance Development June 2007 June 2006 Program Program Taka Taka Taka Taka

11. Long term liability: Loan from BRAC (11.1) - - - 60,000,000 Loan from PKSF (11.2) 158,242,606 - 158,242,606 5,750,000 Loan from ASA (11.3) 166,665 - 166,665 3,333,332 158,409,271 - 158,409,271 69,083,332 11.1 Loan from BRAC: Balance at 1 July 60,000,000 - 60,000,000 79,600,000 Received during the year 10,000,000 - 10,000,000 10,000,000 Repayment during the year (70,000,000) - (70,000,000) (19,600,000) Less: Payable within next one year (ref. note13) - - - (10,000,000) - - - 60,000,000 11.2 Loan from PKSF: Balance at 1 July 5,750,000 - 5,750,000 - Received during the year 227,665,211 - 227,665,211 12,100,000 Repayment during the year - - - (10,000) Less: Payable within next one year (ref. note 13) (75,172,605) - (75,172,605) (6,340,000) (as per PKSF repayment schedule) 158,242,606 - 158,242,606 5,750,000 11.3 Loan from ASA: - - Balance at 1 July 3,333,332 3,333,332 Received during the year 1,000,000 1,000,000 5,000,000 Repayment during the year - - - (1,666,668) Less: Payable within next one year (Ref.Note 13) (4,166,668) - (4,166,668) - Adjustment (As per ASA Repayment Schedule) 1 - 1 - 166,665 - 166,665 3,333,332 12. Members Savings Deposits: Balance at 1 July 91,369,727 - 91,369,727 75,408,399 Collection during the year 84,102,602 - 84,102,602 76,285,946 Refund during the year (64,911,372) - (64,911,372) (60,324,618) Interest credited 3,700,332 - 3,700,332 - 114,261,289 114,261,289 91,369,727 Socio-Economic Micro Finance Development June 2007 June 2006 Program Program Taka Taka Taka Taka

13. Other Current Liabilities Loan from other program (4,006,996) (780) (4,007,776) 12,738,443 Loan from PKSF(Payable within One year) 75,172,605 - 75,172,605 6,340,000 Loan from ASA(Payable within One year) 4,166,668 - 4,166,668 1,666,668 Loan from BRAC - - - 10,000,000 Health Fee - - - 209,850 Account payable 930,263 - 930,263 976,169 Insurance 1,486,166 - 1,486,166 1,431,814 Provision for expenses 780,300 425,422 1,205,722 276,835 Reserve Fund (HELP&LRP DMF) 508,466 - 508,466 - Security Deposits - 16,277 16,277 16,277 Zakat Fund - 64,326 64,326 9,761 Durud Sharif - 16,868 16,868 72,153 Loan from CP - 4,042,676 4,042,676 - Loan from GA - 5,300 5,300 - Gratuity Fund - 5,438,690 5,438,690 4,118,785 Donation in advance - 2,387,997 2,387,997 - VAT - 27,971 27,971 - 79,037,472 12,424,747 91,462,219 37,856,755