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CHANGING LIVES

ANNUAL REPORT 2013/14

OUR VISION

To be a customer centric, innovative and broad based

financial solutions partner.

OUR MISSION

Operate and expand aggressively, efficiently and profitably; with special focus on the Micro, Small and

Medium Enterprise segments
Setup the ‘best-in-the-breed’ operational platform to support growth aspirations

Offer a challenging and rewarding work environment that

  • provides opportunities for growth
  • Develop and offer high quality, innovative products and

services
Contribute to the quality of life in our communities

Seek and grow business and markets with significant

potential growth

Transform the company into a trusted household financial

brand
Make products easily accessible to the target consumer by investing in distribution channels

CONTENTS

  • MANAGEMENT INFORMATION
  • FINANCIAL INFORMATION

  • Chairman’s Review
  • 04

06 08 12 14 16 18
Independent Auditors’ Report Statement of Comprehensive Income Statement of Financial Position Statement of Changes in Equity Cash Flow Statement
66

  • 67
  • CEO’s Report

Board of Directors Management Discussion & Analysis Operational Review Financial Review
68 69 70
Notes to the Financial Statements Shareholders’ Information Branch Network
71

  • Risk Management
  • 98

100 101 102

SUSTAINABILITY REPORT

Sustainability Report Our Events
Notice of Meeting
24

27 29 55
Notes Brac Lanka Finance PLC Form of Proxy Corporate Information - Inner Back Cover
Corporate Governance Report Report of the Directors Director’s Statement on Internal Controls

  • Over Financial Reporting
  • 60

  • 61
  • Report of the Audit Committee

Report of the Integrated

  • Risk Management Committee
  • 61

62 63
Report of The Remuneration Committee Directors‘ Responsibility For Financial Reporting

CHANGING LIVES

BRAC Lanka Finance PLC was established with a passion and tenaciousness to support and sustain the emerging lives

of Sri Lankans. We used the platform of Microfinance and Financial solutions to setup a regulated finance company

imbued with decades of experience of BRAC partnered with LOLC. BRAC is the World’s largest development

organization inured with poverty reduction and empowerment of women with its specialist knowledge in Microfinance and Lanka ORIX Leasing Company PLC is one of the most successful and well-respected group of companies in Sri Lanka. Our combination of expertise in international Microfinance applications and domestic market knowledge will ensure innovative solutions and constitute a long term relationship pushing the boundaries of financial inclusion to empower and create wealth for people across the country.

Annual Report 2013/14 | 1

MANAGEMENT INFORMATION

  • 2 | BRAC Lanka Finance PLC
  • Annual Report 2013/14 | 3

CHAIRMAN’S REVIEW

Muhammad A. (Rumee) Ali

Chairman

Since its inception in 1972 in Bangladesh, BRAC has

been driven by its founder Sir Fazle Hasan Abed’s

vision of a world free from all forms of exploitation and

discrimination, where everyone has the opportunity to realise their potential ability. This further emanates from Sir Abed’s philosophy that poverty is not an act of God, but is a result of societal attitudes and social systems that disempower some communities. As noted by Sir Abed, the root cause of poverty is exclusion and denial of access to the three basic rights of finance, education and health. Therefore, BRAC was designed with a mission of empowering people in situations of poverty and

exclusion, through economic and social programmes that intervene in the three areas of health, education

and finance. We believe in the old adage that health is wealth, which is particularly true for people with little or no access to resources. We believe education is a key tool of empowerment, by paving the way for people to help themselves. Education is a stepping stone to financial literacyandeconomicempowermentthatinturn,facilitate autonomy and self determination. Finally BRAC supports financial development for the poorest of poor through

Micro Credit Programmes that help the under privileged

families overcome poverty. Today, as the world’s largest Non Governmental Organisation, BRAC has made it its business to combat poverty across 14 countries in the

world through a range of interventions that support the

BRAC philosophy of people empowerment.

In Bangladesh, BRAC is one of the strongest non government providers of health and education services and is a prominent advocate to women and children’s

rights. Our poverty alleviation programmes are funded not only through donor funds but also through our own

enterprises and investments. BRAC’s objective was not

to generate profit, but to build a genuine strong social

impact and this differentiates BRAC’s social enterprises

that are aimed at creating livelihoods towards poverty alleviation. This unique model of self financing has been the key to BRAC’s long term sustainability. Today,

BRAC Bank is a recognised bank in Bangladesh which

also play’s a vital role in reaching out to undeserved populations at the bottom of the pyramid. BRAC EPL

Investments Limited (BEIL), is an investment bank,

which is the only institution in Bangladesh certified for consultancy services for environmental and social impact assessment, by the United Nations Framework

Convention for Climate Change. BRAC Lanka Finance PLC in Sri Lanka, which is a joint

venture with the local financial giant Lanka ORIX Leasing Company PLC, is yet another international venture by BRAC. As the world’s most successful Microfinance

Organisation, we strive to introduce our tried and tested

poverty alleviation model in Sri Lanka. Our aim is to replicate the BRAC Microfinance model in Sri Lanka, to

empower rural Sri Lankan populations who do not have

4 | BRAC Lanka Finance PLC

“BRAC Lanka Finance PLC in Sri Lanka, which is a joint

venture with the local financial giant Lanka ORIX Leasing

Company PLC, is yet another international venture by

BRAC. As the world’s most successful Microfinance Organisation, we strive to introduce our tried and tested

poverty alleviation model in Sri Lanka.”

access to formal financial services. However, due to Sri Lanka’s plans for financial sector consolidation, BRAC Lanka Finance PLC, like all other financial institutions

in Sri Lanka, is in the process of evaluating its strategic direction for the future. Nevertheless, as an Organisation that believes in human values, the best interests of all

stakeholders will be upheld in our final decision, with

regards to our plans for Sri Lanka. I wish to thank the regulators, our business partners LOLC, the Board, Management and staff of BRAC Lanka Finance PLC, for their contributions rendered during the

current year. I also extend my warm appreciations to our

customers in Sri Lanka.

Sincerely

Muhammad A. (Rumee) Ali

Chairman

Annual Report 2013/14 | 5

CEO’S REVIEW

Abedur Rahman Sikder

Chief Executive Officer

I would like to thank all our shareholders for gracing this

second Annual General Meeting of BRAC Lanka Finance

PLC. I am most privileged to present the performance

of the Company for the first year of its operations, since its acquisition by BRAC Bangladesh and Lanka ORIX Leasing Company PLC (LOLC) of Sri Lanka. and then to enter a higher growth path of over 8% in the medium term. This expansion is expected to be broad based with all major sectors, contributing positively in the coming years.

The even more encouraging fact is that Sri Lanka’s National Development Policy places special emphasis on

Small and Medium Enterprise (SME) for women focused growth, as outlined in the Central Bank Road Map for

2014. This policy framework opens a clear window for

BRAC Lanka Finance PLC involvement in Sri Lanka’s future growth, and in this positive backdrop we look forward to

introducing the tried and tested BRAC poverty alleviation model in Sri Lanka. In our first phase of operations, we will focus on strengthening Sri Lanka’s grassroots economy through Microfinance that will empower rural, female populations. Under our second phase of growth we will

target Small and Medium Enterprise sector development

through a range of specialised products. Even at this early

stage of operations, BRAC Lanka Finance PLC is a true example of rural and women focused development, as our client base comprises about 40,000 who are women

Microfinance recipients, served by a workforce which is about 90% women. Through our operations we have not only opened up avenues of economic empowerment for women by way of entrepreneurial activities for women, we also create employment and growth opportunities within the company, for women.
BRAC Lanka’s entry into the Sri Lankan financial markets took place against a backdrop of many positive developments in the Sri Lankan economy. Although

global economic conditions continued to remain weak,

with global GDP growth contracting from 3.1% in 2012 to 3% in 2013. The Sri Lankan economy improved from a 6.3% rate of growth in 2012 to a GDP growth rate of 7.3% by the end of 2013. The industrial sector expanded by 9.9% during the year. The agriculture sector recorded a growth rate of 4.7%, compared the 5.2% growth in 2012, and the services sector saw a robust growth of 6.4%, compared to the 4.6% rate of growth in 2012. In spite of significant rising adjustments to the domestic energy prices, the rate of inflation was stable and remained at single digit level. Headline inflation was 4.7% yearon-year and 6.9% on an annual average basis. With exports recording a growth of 6.4% in 2013 and import expendituredecliningby6.2%, asignificantimprovement

was seen in the trade balance, and the overall balance of

the BOP recording a surplus of US$ 985 million in 2013, in comparison to a surplus of US$ 151 million recorded in 2012. Economic growth is expected to reach 7.8% in 2014

6 | BRAC Lanka Finance PLC

“The current Financial year was a challenging one for BRAC Lanka FinancePLC due to the need of consolidating market position, while shifting to the Microfinance business model. Duringthecurrentfinancialyear,wecommencedthisprocess by placing the infrastructure for Microfinance Services, including the recruitment of experienced personnel from Sri Lanka’s Microfinance sector and expanding the Branch/

Service Network from 01 to 10.”

The current Financial year was a challenging one for BRAC

Lanka Finance PLC due to the need of consolidating

market position, while shifting to the Microfinance business model. During the current financial year, we commenced this process by placing the infrastructure for Microfinance Services, including the recruitment of experienced personnel from Sri Lanka’s Microfinance

sector and expanding the Branch / Service Network from

01 to 10. To deliver Microfinance services to Sri Lanka’s

rural populations we intend to expand our Branch /

Service Network exponentially over the next few years starting with 80-100 Branches / Service Centers by end 2014. I am happy to report that even with our extremely limited infrastructure, during the current financial year,

BRAC Lanka Finance PLC disbursed over LKR 700 mn in micro loans. In addition to this, progress over the current

financial year includes a customer base increased to 39,378 from 994 in 2013, with a total asset base growth of 191%, where the loan portfolio has expanded by 284%. I am confident of sustained growth over the next few years

that will position BRAC Lanka Finance PLC as a leading

Microfinance Institution in Sri Lanka.

our respected Shareholders and all other Stakeholders

for the trust placed in me to head this Company. With our years of experience in poverty alleviation through Micro Credit, and your cooperation as Shareholders of this Company, I am confident we can take this Company

to the next level of growth.

Sincerely

Abedur Rahman Sikder

Chief Executive Officer

I would like to thank the Board of Directors for their guidance and leadership during this formative year

of BRAC Lanka Finance PLC towards building a solid foundation for the future. I would like to thank the ManagementandStaff of BRACLankaFinancePLCfortheir

dedication and hard work over the last year. I also thank

Annual Report 2013/14 | 7

BOARD OF DIRECTORS

  • 1
  • 2
  • 3
  • 4
  • 5

  • 9
  • 6
  • 7
  • 8

Investment Climate Fund, International Chamber of

Commerce, Bangladesh and CEOs Forum for inclusivity. He also served as a member of the governing body of PKSF and as a Vice-President of Bangladesh Association of Banks and of the Employers Federation of Bangladesh.

1. Mr. Muhammad A (Rumee) Ali

Chairman - Non-Executive Director

Rumee Ali Chairman of BRAC Bangladesh and Board

of Director of BRAC Lanka Finance PLC, has served at

different levels for the local and international Banking

sectors. Prior to joining BRAC, he served as the Deputy Governor of Bangladesh Bank. With his appointment as Country Head and General Manager of ANZ Grindlays

Bank, Bangladesh in March 1997, Mr. Rumee Ali became

the first Bangladeshi to head a major international bank in Bangladesh. In July 2000, following the takeover of ANZ Grindlays Bank by Standard Chartered Bank, Mr. Rumee Ali was appointed the Chief Executive Officer of the Standard Chartered Group in Bangladesh, heading

both Standard Chartered Bank and Standard Chartered

Grindlays Bank. His banking experience includes stints in India, United Kingdom and Australia. Mr. Rumee Ali was

elected as fellow member of the Bangladesh Institute of Bankers in 2001.

He has received a number of awards including C. R. Das, Atish Dipanker and Sarojini Naidu Gold Medal for Banking in 1995, 1999 and 2009 respectively, and the ‘CEO of the Year’ award by Junior Chamber International,

Bangladesh. Mr. Ali received his BA and MA in economics from the

University of Dhaka.

2. Mr. Ishara Chinthaka Nanayakkara

Non-Executive Director

Ishara Nanayakkara joined the Board of Lanka ORIX Leasing Company PLC (LOLC) in 2002 and is, presently the Deputy Chairman of LOLC and of Lanka ORIX Finance Company PLC. He is also the Chairman of Commercial Leasing and Finance PLC, a leading finance company in the country.
He is the Chairman of BRAC EPL Investments Ltd, BRAC

EPL Stock Brokerage Ltd, bKash Ltd, BRAC Sajaan

Exchange Ltd, BRAC IT Services Ltd, BRAC Lanka Finance Ltd and also the Director of several other organisations,

including BRAC Bank, BRAC Net and Alliance for

Bangladesh Worker Safety. Mr. Rumee Ali is a member of the global steering committee of the performance-based

grants initiatives of the International Finance Corporation,

and the technical advisory committee of Bangladesh
Mr. Nanayakkara is the Chairman of LOLC Micro Credit Limited, the Microfinance arm of LOLC Group. He also serves on the Board of PRASAC Microfinance Institute; one of the largest Microfinance institutions in Cambodia. His enduring interest in Microfinance was further evident by his latest initiative and LOLC’s first overseas investment

8 | BRAC Lanka Finance PLC

- LOLC Myanmar Microfinance Company Ltd in which he is the founding Chairman. He was also instrumental in

the joint venture between BRAC and LOLC to form BRAC Lanka Finance PLC.

Mr. Kairy supervises the overall financial control and

management over the sources and applications of funds for BRAC activities, both development and commercial.

His responsibilities include ensuring effective financial control, transparency and accuracy of financial data and reporting. Mr. Kairy is responsible for ensuring the

effective procurement and asset management of BRAC.

Mr. Nanayakkara is the Deputy Chairman of Seylan Bank PLC, a premier commercial bank in the country. His

strategic participation in general, life and micro insurance

through LOLC Insurance Company Ltd, factoring and

working capital through LOLC Factors Ltd, stock brokering

and securities through LOLC Securities Ltd, Islamic finance through LOLC Al-falaah, SME financing in addition to

conventional lending and deposit product knowhow,

reflects his vivid exposure in the financial services arena.
He is currently serving on the board of BRAC Bank Limited

and BRAC Lanka Finance PLC (Sri Lanka) as a director

nominated by BRAC.

4. Mr. Waduthantri Dharshan Kapila Jayawardena

Non-Executive Director

Kapila Jayawardena counts over thirty two year’s

experience in Banking, Financial Management and

Corporate Management. Mr. Jayawardena was appointed as the Group Managing Director/CEO of Lanka ORIX Leasing Company PLC in 2007. He was the former CEO/ Country Head of Citibank N.A. Sri Lanka & Maldives.
He is also the Executive Chairman of Brown & Company PLC and Browns Investments PLC. The Browns Group is a

renowned conglomerate with leading market position in trade, leisure, manufacturing, consumer appliances and

agriculture equipment and Browns Investments is the

strategic investing arm of Browns that consists a portfolio of Leisure, Plantation, construction, agriculture inputs and banking.

Mr. Jayawardena has played a pivotal role in the banking sector contributing to the financial market reforms, development and regularly advising regulators on prudential requirements and has widespread experience in introducing innovative financial service products to the

market.

Mr. Nanayakkara also serves on the Boards of Sierra ConstructionsLtd,FreeLankaHoldingsPLC,LankaCentury Investment PLC, Associated Battery Manufacturers (Cey)

Ltd and Agstar Fertilizer PLC.

LOLC Group is one of the largest conglomerates in Sri Lanka with presence in diversified industries such as Financial Services, Trading, Manufacturing, Construction, Leisure and Renewable Energy.
He holds a diploma in Business Accounting from Australia.

3. Mr. Shib Narayan Kairy

Non-Executive Director

Mr. Kairy is the chief financial officer of BRAC and BRAC International. He is also a member of the executive

management committee, the organisation’s management

decision-making committee. Following the completion of his MCom in accounting from the University of Dhaka, he joined the accounts section of BRAC in April 1982.

As an individual with extensive International and domestic

financial experience, Mr. Jayawardena was a key member

of the following committees:

•••

Chairman Sri Lanka Bank’s Association (SLBA) 2003/2004 Member of the Financial Services Reforms Committee (FSRC) 2003/ 2004
At BRAC, he progressed through the roles of chief

accountant, finance manager, head of finance, director of finance and accounts, and was appointed to his current position in May 2011.
Director of Lanka Clear and was instrumental in

completing the Automated Clearing Project for the

Sri Lankan banking industry 2004
•

President of the American Chamber of Commerce Sri Lanka 2006/2007

Annual Report 2013/14 | 9

BOARD OF DIRECTORS

•••

Member of the inaugural Sovereign ratings team for Sri Lanka

London. He then moved to Global Emerging Markets, a boutique investment bank concentrating on emerging markets based out of London. Subsequently he moved

to Bangladesh and was responsible for establishing the

structured finance unit of Industrial and Infrastructure Development Finance Company Limited where he launched the first ever zero coupon bond in Bangladesh. Prior to establishing RSA he was the treasury consultant

with Price water house Coopers for restructuring Agrani Bank one of the largest state owned banks in Bangladesh.
Member of the National Council of Economic

Development (NCED) Board Member of the United States - Sri Lanka

Fulbright Commission

Presently, Mr. Jayawardena holds Chairmanship Directorship in the following companies:
/

  • •
  • Lanka ORIX Leasing Company PLC - Group Managing

Director/CEO

Mr. Ahmad has established himself as one of the leading

structuredfinance bankers inBangladeshbylaunchingthe first ever zero coupon bond,the first step down syndicated loan facility, the first ever unsecured international term loan facility for a Micro Finance institution and of course the world’s first micro credit securitization, the first ever

variable rate subordinated domestic convertible bond

as Tier 2 Capital with international participation in the

Bangladesh market.

•••••••••••••••
Lanka ORIX Finance Company PLC - Chairman LOLC Insurance Company Limited - Chairman LOLC Securities Limited - Chairman Palm Garden Hotels PLC - Chairman Speed Italia (Pvt) Ltd - Chairman United Dendro Energy (Pvt) Ltd - Chairman LOLC General Insurance Ltd - Chairman LOLC Life Insurance Ltd - Chairman LOLC Micro Credit Ltd - Director Commercial Leasing & Finance PLC - Director Brown & Company PLC - Director Browns Investments PLC - Director Seylan Bank PLC - Director
He is also a partner in Mekong Brahmaputra Clean Development Fund involved in investing in clean energy

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  • BRAC International Opens New Bank in Sub-Saharan Africa

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    02 May 2019 BRAC International Opens New Bank in sub-Saharan Africa • World’s largest development organisation has transformed its microfinance operation in Uganda into a bank • Three new equity partners - DEG, Equator Capital Partners, and Triple Jump - have joined the newly transformed BRAC Uganda Bank Limited for the next stage • The aim is to provide far wider financial access and support to Ugandans particularly in rural communities The world’s largest development organisation, BRAC, has transformed its microfinance operation in Uganda into a bank in an effort to broaden and deepen financial inclusion for hundreds of thousands of people. The NGO has diluted its 100% shareholding in BRAC Uganda Bank Limited, held through BRAC International Holdings BV, to meet regulatory requirements of transforming the biggest microfinance operation in Uganda into a Tier 2 Credit Institution. Enclude Capital Advisory UK Limited, a specialist impact investment bank owned by Palladium and longtime partner to BRAC, acted as the sole financial advisor. Three investors have each acquired 17% of BRAC Uganda Bank Limited. The new equity partners include German development finance institution DEG (Deutsche Investitions - und Entwicklungsgesellschaft mbH), Equator Capital Partners, the experienced fund manager investing in financial inclusion, and Triple Jump, the Dutch impact-focused investment manager. BRAC International plans to use the proceeds of the sale to further expand its operations in other countries with low levels of access to finance. Starting in 2006, BRAC Uganda now serves over 200,000 clients, with its 163 branches in 84 districts of the country. As part of its commitment to provide a range of financial services particularly for women in rural and low-income communities, BRAC has been pursuing a change in its regulatory status.
  • BRAC: Building Resources Across Communities the Coproduction Of

    BRAC: Building Resources Across Communities the Coproduction Of

    BRAC: Building Resources Across Communities The Coproduction of Governance: Civil Society, the Government, and the Private Sector Fazle Hasan Abed [email protected] Mr. Abed will reflect on his own experiences and his own learning over the past 36 years with regard to setting up and running BRAC. His main thesis will be that in a country like Bangladesh, it is possible make a significant positive change in the lives of the poor and other marginalized people, including women. In fact, “it is possible to bring hope back!” He will recollect how he decided to move to the uncharted territory of “development” and to leave his secure career in a multinational oil company. BRAC started as a small relief and rehabilitation effort in a remote rural district of Bangladesh after the liberation of the country. Early on, it became clear that relief was not the way to make a sustainable improvement in poor people’s lives, and BRAC started experimenting with “development.” Different projects on health, education, and economic development were piloted. Some were successful while others were not. Mr. Abed will explore a major question that BRAC faced with regard to successful programs and agencies: how should they be dealt with? The traditional wisdom was that the government would replicate them, but given the situation prevailing at that time, it was not going to happen. Mr. Abed will discuss the example of an early successful program. The year 1979 was named the “International Year of the Child,” and BRAC knew from its work that high infant mortality and fertility were major problems facing the country.
  • It's Her Time

    It's Her Time

    BRAC USA 2016 ANNUAL REPORT It’s her time 2016 BRAC USA ANNUAL REPORT 3 It is with great pleasure that we welcome Donella Rapier to the BRAC family. In July of this year, we successfully recruited Donella to join as the President & CEO of BRAC USA. She has demonstrated exceptional leadership and commitment at other nonprofit organizations, including Accion, Partners In Health, and Harvard Business School. Donella joins the team at a particularly significant time. In the past several decades, the world made significant progress in poverty reduction. We are now ready to eradicate poverty, as articulated by the United Nations’ Sustainable Development Goals. BRAC is doubling down on its efforts and joining global initiatives to eradicate “extreme poverty” from the face of the planet by 2030. JUST THIS YEAR, WE BEGAN AN EXPANSION OF BRAC’S “GRADUATION” PROGRAM, WHICH FOCUSES ON EMPOWERING DISENFRANCHISED WOMEN AND FAMILIES ON THE FRINGES OF SOCIETY. THE INNOVATIVE PROGRAM (PAGES 12-13) OFFERS NURTURING SUPPORT TO THE EXTREMELY POOR, TO “GRADUATE” THEM INTO SUSTAINABLE JOBS AND LIVELIHOODS AFTER 24 MONTHS. These women are often destitute, single mothers who are outcast from their communities. Through holistic support, BRAC has assisted 1.7 million women and their families to increase their income and begin the climb out of poverty. Donella’s leadership will propel this vital work forward, multiplying our impact in BRAC’s 11 countries of operation and beyond. Through partnerships and training, we are helping others adapt and implement this internationally recognized approach. This year, we initiated projects with the Kenyan government, along with BOMA and Care, the United Nations High Commissioner for Refugees (UNHCR), and others to facilitate effective implementation of the Graduation approach and provide livelihood opportunities to the most marginalized communities.
  • BRAC's Ultra-Poor Graduation Programme

    BRAC's Ultra-Poor Graduation Programme

    BRAC’s Ultra-Poor Graduation Programme An end to extreme poverty in our lifetime Understanding the Ultra-Poor Graduation Approach 1 COVER: Ultra-poor participant Shamsunnahar with one of her many livestock. Understanding the Ultra-Poor Graduation Approach According to World Bank estimates, the number of people living in poverty around “We are the first the globe dropped into the single digits— just below 10%—for the first time in recent generation in human history, marking 2015 as a landmark year in the global fight to end extreme poverty. history that can end During the last quarter of a century, both extreme poverty.” extreme poverty and under-five mortality rates have fallen by more than half, and 91% of children in developing countries have enrolled in primary school. ivDespite these gains, the Jim Yong Kim, decline in poverty has been uneven: East Asia accounted for half of the global poor President, World Bank Group, in 1990; today this figure represents Sub- Saharan Africa.v Though much has been accomplished, a great challenge remains in the by numerous organisations and scaled global effort to eradicate extreme poverty by in some of the poorest regions of the 2030, as espoused in the recent Sustainable world, the Graduation approach has gained Development Goals. international recognition, and continues to gather momentum, as a means of enabling participants and their families to build secure, ABOUT THE ULTRA-POOR sustainable and resilient livelihoods while GRADUATION APPROACH gaining the skills and confidence to move forward with hope. Though the extreme poor live on less than $1.90/day, the ultra-poor are the lowest Graduation combines support to address earning and most vulnerable subset of this immediate needs of participants with longer- population globally.
  • Introduction of the Keynote Speaker, Shoaib Sultan Khan

    Introduction of the Keynote Speaker, Shoaib Sultan Khan

    This report was produced by an editorial team consisting of ACN Staff, with contributions from the speakers of the event. Prepared by, Aasim Reza Designed by, AsAd iJaZ AwAn Printed at PanGraphics (Pvt) Ltd. Parts of this report may be reproduced for professional purposes, provided that the source is acknowledged and the material is not sold. Published in 2007 by NRSP - Institute of Rural Management, Islamabad, Pakistan. C IRM 2007 Remembering Dr.Akhter Hameed Khan 2006 AHK Resource Center Contents Acknowledgements 1 Foreword 2 Session 1- AHK Memorial Award by Council of Social Sciences 4 Introduction to COSS by President - Dr. Inayatullah 5 Rationale and objectives of AHK Memorial Award - Dr Zarina Salamat Member Executive Committee, COSS 7 Announcement of AHK Memorial Award by Member Selection Committee - Dr Rubina Saigol 8 Expression of thanks by Memorial Award Recipient Dr Tahira S. Khan 10 Session 2- AHK Memorial lecture 12 Introduction of the Keynote Speaker, Shoaib Sultan Khan by Fayyaz Baqir 13 Memorial Lecture by Keynote Speaker, Shoaib Sultan Khan 15 Screening of Documentary - A Vision Unveiled (synopsis) 28 Vote of thanks offered by Shandana Khan 30 Section 3 - Paper by Prof. Rehman Sobhan 32 Profile of Prof. Rehman Sobhan 33 Democratizing Development in South Asia: Responding to the Challenge of Globalization 34 Annexes 54 Rural Support Programmes Stalls 55 Media Coverage 56 Press Clippings 57 AHK Memorial Award- Call for Nominations 60 ACKNOWLEDGEMENTS ACKNOWLEDGEMENTS The Akhter Hameed Khan Memorial lecture, conceived as an opportunity for development workers from around the region to come together to commemorate the teachings of the scholar, the sage and social scientist who has to his acclaim many social and civil awards from Pakistan and around the world for his pioneering contributions to the theory and practice of poverty alleviation through social mobilization.