Introduction of the Keynote Speaker, Shoaib Sultan Khan
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Brac Lanka Finance PLC 2013 Cover
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 Setup the ‘best-in-the-breed’ operational platform to profitably; with special focus on the Micro, Small and support growth aspirations Medium Enterprise segments Offer a challenging and rewarding work environment that Develop and offer high quality, innovative products and provides opportunities for growth 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 Independent Auditors’ Report 66 CEO’s Report 06 Statement of Comprehensive Income 67 Board of Directors 08 Statement of Financial Position 68 Management Discussion & Analysis 12 Statement of Changes in Equity 69 Operational Review 14 Cash Flow Statement 70 Financial Review 16 Notes to the Financial Statements 71 Risk Management 18 Shareholders’ Information 98 Branch Network 100 SUSTAINABILITY REPORT Notice of Meeting 101 Sustainability Report 24 Notes 102 Our Events 27 Brac Lanka Finance PLC Form of Proxy Corporate Governance Report 29 Corporate Information - Inner Back Cover Report of the Directors 55 Director’s Statement on Internal Controls Over Financial Reporting 60 Report of the Audit Committee 61 Report of the Integrated Risk Management Committee 61 Report of The Remuneration Committee 62 Directors‘ Responsibility For Financial Reporting 63 CHANGING LIVES BRAC Lanka Finance PLC was established with a passion and tenaciousness to support and sustain the emerging lives of Sri Lankans. -
Education for the Rural D Welopment Catalyst
EDUCATION FOR THE RURAL D WELOPMENT CATALYST: LEARNlNG FROM THE AGA KHAN RURAL SUPPORT PROGRAMME AND THE UNIVERSITY OF GUELPH A Thesis Presented to The Faculty of Craduate Studies of The University of Guelph "Y TANK ALI KHAN In partial fulfilment of requirements for the degree of Master of Science DeCernber, 1998 Q Tarik Ali Khan, 1998 Nationai Library Bibliothèque.nationale 1+1 ,cana& du Canada Acquisitions and Acquisitions et Bibliographie Services services bibliographiques 395 Wellington Street 395. rue Wellington Ottawa ON KIA ON4 OttawaON K1A ON4 Canada Canada The author has granted a non- L'auteur a accordé une licence non exclusive licence allowing the exclusive permettant à la National Libmy of Canada to Bibliothèque nationale du Canada de reproduce, loan, distribute or sell reproduire, prêter, distriiuer ou copies of this thesis in microfom, vendre des copies de cette thèse sous paper or elecîronic formats. la forme de microfiche/nlm, de reproduction sur papier ou sur format élecîronique. The author retains ownership of the L'auteur conserve la propriété du copyright in this thesis. Neither the droit d'auteur qui protège cette thèse. thesis nor substantial extracts fkom it Ni la thèse ni des extraits substantiels may be printed or othefwise de celle-ci ne doivent être imprimés reproduced without the author's ou autrement reproduits sans son permission. autorisation. EDUCATION FOR DMLOPMENT CATALYSTS: Learning from the Aga Khan Rural Support Programme and the University of Guelph Tarik Ali Khan Advisor: University of Guelph, 1998 Dr. Farokh Afshar Catalysts are key figures in the rural dwelopment proces throughout the world. -
Brac Saajan Exchange Ltd Annual Report and Financial Statements for the Year Ended 31 December 2020
Company Registration No. 06469886 (England and Wales) BRAC SAAJAN EXCHANGE LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 BRAC SAAJAN EXCHANGE LTD COMPANY INFORMATION Directors Mr Kazi Mahmood Sattar Mr Selim Reza Farhad Hussain Mr Abdus Salam Secretary Mr Rais Uddin Ahmed Company number 06469886 Registered office 160-162 Lozells Road Lozells Birmingham B19 2SX Auditor Reddy Siddiqui LLP 183-189 The Vale Acton London W3 7RW BRAC SAAJAN EXCHANGE LTD CONTENTS Page Strategic report 1 - 6 Directors' report 7 - 8 Directors' responsibilities statement 9 Independent auditor's report 10 - 12 Statement of comprehensive income 13 Balance sheet 14 Statement of changes in equity 15 Statement of cash flows 16 Notes to the financial statements 17 - 35 BRAC SAAJAN EXCHANGE LTD STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The directors present the strategic report for the year ended 31 December 2020. Fair Review of the Business The company, a subsidiary of BRAC Bank Limited of Bangladesh, provides remittance services and cross- border payment solutions for South Asian migrants living in UK and Europe. It offers a wide range of payment services principally to Bangladesh and Pakistan but also to India, Sri Lanka and Nepal. The company also offers its services through a French subsidiary, based in Paris. Revenue is earned through a combination of transaction fees and foreign exchange margin. Total remittance to all receiving countries fell by 16% from £542m in 2019 to £455m in 2020. UK retail volume which has been effected by the Covid-19 pandemic, saw a reduction of 20% to £189m. -
The Aga Khan Rural Support Programme Experience
NCtONGOVERNMENTALORGANIZATION ALTERNATIVES AND FRESH INITIATIVESIN EXTENSION The Aga Khan Rural Support Programme Experience Shoaib Sultan Khan* In the backdrop of the Ethiopiancrisis a few years ago, the London Economisthad sounded a note of warning to the advocatesof nongovernmentalorganizations (NGOs) taking over countrywide implementationof emergencyaid and developmentprograms and had instead urged efforts at persuading governmentsto act like NGOs. The Aga Khan Rural Support Programme (AKRSP)is an experiment in demonstratinghow governmentscan launch countrysidedevelopment and extension programs in an effective and equitableway. ConceptualPackage As against the traditionalapproach of having an army of extensionworkers for delivery of services, AKRSP relies on fosteringrural cadres of extensionworkers from within the beneficiariesto undertakethe job. However, there are certain prerequisitesthat have to be put in place before the poor of the world can be helped. The most importantrequirement is fostering a frameworkof grassroots institutions.Institution building thus becomes the sine quo non for all future developmental and extension activities. AKRSPbegan its activitiesmore than 9 years ago, on clearly establishedobjective concepts and operationalprinciples. Every villagethe ManagementGroup (MG) of AKRSPvisited was offered a developmentpartnershiD with clearly articulatedobligations encompassing willingness of villagers to (a) organize and cooperativelymanage their affairs; (b) generatetheir own capital through savings; and (c) upgrade -
Dr. Akhter Hameed Khan – the Pioneer of Microcredit
Pakistan Perspectives Vol. 14, No. 1, January-June 2009 Notes Dr. Akhter Hameed Khan – The Pioneer of Microcredit Nasim Yousaf* It's hard to believe that microcredit – which has exploded into the world of finance in recent years – was considered an unfeasible concept at one time. Microcredit provides very small loans to those who have no verifiable credit history or collateral that would be acceptable to a financial institution. Prior to the microcredit methodology, banks served only the privileged and, as a result, perpetuated the gap between the poor and the rich. However, in the 1950s and ‘60s, Dr. Akhter Hameed Khan, a world-renowned social scientist from Pakistan, initiated the Comilla cooperative program, and proved to the world that it was indeed possible to provide credit to the poor - with great success no less. In order to gain a greater understanding of why Dr. Khan’s cooperative scheme was so successful, one needs to travel back to the 1950s – the early years of the Pakistani nation. Since its founding in 1947, the country as a whole had been plagued by a number of problems, primarily related to administration and infrastructure, lack of industrialization, poor communication, a large population, unemployment, and poverty. The challenges at the national level also translated into individual components of the economy. Problems in the agriculture sector were particularly severe – they included disorganized farming, poor yield (despite favorable conditions), crop damages from floods and pests.1 Lack of application of modern techniques, no guidance or training, and improper marketing. Furthermore, small farmers’ land holdings in the villages (in East Pakistan) ranged from one to five acres * Nasim Yousaf is an independence researcher and historian, author of many books on Allama Mashriqi. -
Microcredit and Social Business Movement As Catalyst for Poverty Eradication: the Grameen Experience
International Journal of Management Science and Business Administration Volume 5, Issue 5, July 2019, Pages 32-42 DOI: 10.18775/ijmsba.1849-5664-5419.2014.55.1004 URL: http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.55.1004 Microcredit and Social Business Movement as Catalyst for Poverty Eradication: The Grameen Experience 1 Abdullahil MAMUN, 2 Harun BAL, 3 Tolga KABAŞ 1 Department of Economics, Cukurova University, Adana Research Fellow, TUBITAK, Turkey 2,3 Department of Economics, Cukurova University, Adana, Turkey Abstract: Being a country of developing world, Bangladesh has a long-standing history of fighting poverty by means of microcredit. Thanks to the development of group lending approach of Grameen Bank established by Nobel laureate Professor Mohammad Yunus, which has later been widely accepted as an alternative to the traditional collateral based lending in extending credit facilities to the door of hard core poor at affordable terms, Bangladesh has been able to register tremendous success in alleviating poverty. Apart from Bangladesh, Grameen type microcredit programmes are now being replicated in more than 100 countries both in the developing and developed world. At the same time, Grameen has constantly been devising new entrepreneurial solutions to the problems of the poor in the name of social business- a social cause driven, non-loss, non-dividend, self-reliant business dedicated to serve the most pressing needs of the disadvantaged. Muhammad Yunus has been successful to create a global infrastructure for social business which is working as a catalyst for encouraging social business experimentations around the world. The paper will critically examine the Grameen solidarity lending mechanism and social business framework and their efficiency in approaching poverty with their cross border experiences. -
87. Briscoe, Two Decades of Change in a Bangladeshi Village, Econ&Political Weekly 2001, Reprinted In
Two Decades of Change in a Bangladeshi Village Author(s): John Briscoe Source: Economic and Political Weekly, Vol. 36, No. 40 (Oct. 6-12, 2001), pp. 3823-3825+3827- 3828 Published by: Economic and Political Weekly Stable URL: http://www.jstor.org/stable/4411199 Accessed: 31/05/2009 20:47 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=epw. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship. We work with the scholarly community to preserve their work and the materials they rely upon, and to build a common research platform that promotes the discovery and use of these resources. For more information about JSTOR, please contact [email protected]. Economic and Political Weekly is collaborating with JSTOR to digitize, preserve and extend access to Economic and Political Weekly. http://www.jstor.org I Perspectives billowing white - and rose-colored sails, Two Decades of Change going to harvest paddy in the Sylhet Depression. -
Other Notifications, Orders, Etc
PART III] THE GAZETTE OF PAKISTAN, EXTRA., MAY 27, 2019 1021(1) ISLAMABAD, MONDAY, MAY 27, 2019 PART III Other Notifications, Orders, etc. GOVERNMENT OF PAKISTAN CABINET SECRETARIAT (Cabinet Division) NOTIFICATION Islamabad, the 14th May, 2019 No. 1/1/2018-Award-I.—The President of the Islamic Republic of Pakistan has been pleased to confer Pakistan Civil Awards on the following Pakistani and Foreign nationals dignitaries during the investiture ceremony held on 23rd March, 2019:— 1021(1-24) Price : Rs. 6.00 [825(2018)/Ex. Gaz.] 1021(2) THE GAZETTE OF PAKISTAN, EXTRA., MAY 27, 2019 [PART III S.No. Name and Address Field I NISHAN-I-IMTIAZ 1. Mr. Shoaib Sultan Khan, Public Service Chairman, Chairman/Board of Directors, Rural Support Programmes Network (RSPN), 8-Aga Khan Road, F-6/4, Islamabad. Domicile: Khyber Pakhtunkhwa 2. Mr. Sadruddin Hashwani, Public Service Chairman, Hashoo Group & Company, Hashoo House, House No. 1, Street No. 62, Sector F-6/3, Islamabad. Domicile: Sindh II. HILAL-I-PAKISTAN 3. Mr. Seishiro ETO, Services to Pakistan 1st Building, Room No.1101, 2-2-1, Nigata-Cho, Chiyoda-Ku, Tokyo, Japan. Countary: Japan 4. Mr. Xu Shaoshi, Services to Pakistan NDRC, 38.S. Yuetan Street, Beijing, China. Country: China 5. Mr. Ismail Kahraman, Services to Pakistan Turkiye Buyuk Millet, Meclisi 27, Basani Turkey. Country: Turkey PART III] THE GAZETTE OF PAKISTAN, EXTRA., MAY 27, 2019 1021(3) III. HILAL-I-IMTIAZ 6. Mr. Zaheer Ayub Baig, Health and Medical Physics Chairman, PNRA, PNRA HQs, Mauve Area, Sector G-8/1, Islamabad. Domicile: Punjab 7. Mr. -
Organisation Analysis Ccma 1.1 Organization Brac
ORGANISATION ANALYSIS CCMA 1.1 ORGANIZATION BRAC BRAC Dolores Ramón Martínez BRAC is an international development non-governmental organization devised in 1972’s ‘war-torn newly independent’ (Hossain and Segunpta, 2009: 23) Bangladesh by its founder F. H. Abed. It started as a small committee of volunteers who wanted to help returning refugees after a devastating cyclone and the immediately after War of Independence from Pakistan - considered genocidal on the Bangladeshis (Hossain, 2017). Nowadays it is considered the largest NGO in the world (Ellis, 2016) with more than 120.000 employees in eleven different countries and is acclaimed worldwide for its innovative approach and highly significant contribution to poverty eradication. BRAC’S VISION: ‘A world free from all forms of exploitation and discrimination where everyone has the opportunity to realize their potential.’ BRAC’S MISSION: ‘To empower people and communities in situations of poverty, illiteracy, disease and social injustice. BRAC’s interventions aim to achieve large scale, positive changes through economic and social programmes that enable men and women to realize their potential.’ BRAC’S VALUES: ‘Innovation Integrity Inclusiveness Effectiveness’ BRAC’S FUTURE GOALS: ‘BRAC’s global strategy outlines three priority goals scaling up its global ambition to support the 2030 Agenda for Sustainable Development within the next 10 years: 1 empowering at least 250 million people to have control over their own livelihoods; reaching at least 30% of the participants with multiple interventions; -
An End in Sight for Ultra-Poverty Scaling up BRAC’S Graduation Model for the Poorest
Briefing Note #1: Ending extreme poverty November 2013 An end in sight for ultra-poverty Scaling up BRAC’s graduation model for the poorest Can we end the worst forms of human poverty? Falling poverty rates are now Summary observed in every region of the world. In f Even below $1.25 a day, the April, World Bank president Jim Yong poor are not a homogeneous Kim announced 2030 as the global target group. date to end “extreme poverty,” defined as living on or below the equivalent of f The very poorest can “graduate” $1.25 per day. Media have taken the from ultra-poverty with a set of rhetoric seriously, pointing out that carefully sequenced, tailored the percentage of people living at that interventions. Adaptations of level has halved since 1990, from 43% BRAC’s methodology have (or 1.9 billion people) to 21% (1.2 seen 75-98% graduation rates. Media contacts: billion), and that if current trends hold, the global poverty rate may well fall to f BRAC is ready to leverage its Soraya Auer single digits in as soon as 10 years.1 The experience by working with others in a global strategy to BRAC Brooking Institution and the World [email protected] end the worst forms of human Bank published separate reports in 2013 poverty. T: +88 02 9881265, ext. 3191 analyzing the prospects of bringing the rate close to zero by 2030.2 Scott MacMillan BRAC USA [email protected] It would be a mistake, however, to treat destitution, the ultra-poor often do not T: +1 212 808 5615 those below the $1.25-a-day threshold benefit from market-based interventions as a homogeneous pool. -
Pakistan: Scaling up Rural Support Programs
PAKISTAN: SCALING UP RURAL SUPPORT PROGRAMS A case study from Reducing Poverty, Sustaining Growth—What Works, What Doesn’t, and Why A Global Exchange for Scaling Up Success Scaling Up Poverty Reduction: A Global Learning Process and Conference Shanghai, May 25–27, 2004 Pakistan: Scaling Up Rural Support Programs Stephen F. Rasmussen M. Mujtaba Piracha Rashid Bajwa Abdul Malik Aadil Mansoor Rural Support Programmes Network House 7, Street 49, Sector F 6/4, Islamabad, Pakistan Email : [email protected] Telephone : +92 51.282.2476 The findings, interpretations, and conclusions expressed here are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. Copyright © 2004. The International Bank for Reconstruction and Development / THE WORLD BANK All rights reserved. The material in this work is copyrighted. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or inclusion in any information storage and retrieval system, without the prior written permission of the World Bank. The World Bank encourages dissemination of its work and will normally grant permission promptly. 1 CASE STUDIES IN SCALING UP POVERTY REDUCTION Executive summary Pakistan’s Rural Support Program (RSP) movement pioneered bottom-up, community-driven development using a flexible, autonomous, politically neutral approach, which has been replicated successfully. RSPs mobilize and organize communities to stimulate more effective demand for better public goods and services, foster important linkages between the communities and service providers, and at times directly supply services. -
Gratitude Report 2020
GRATITUDE REPORT 2020 A HISTORY OF BRAC SOLUTIONS An estimated 600 million people live in extreme poverty around the world and, in 2020, extreme poverty will rise globally for the first time in 22 years. Throughout its history, BRAC has designed and implemented solutions confronting the seemingly insurmountable challenges that people living in poverty face, and this year has been no different. In fact, it has never been more important. This ambitious work would not be possible without you. Thank you for your support. A HISTORY OF BRAC SOLUTIONS THE AUDACITY OF BRAC This year, so many have been forced to face new realities that have upended routines and challenged perspectives. For BRAC, this has meant mobilizing its global workforce and adapting its programs to address the triple burden of the health, socioeconomic, and humanitarian crises caused by COVID-19. What has remained constant, however, has been BRAC’s commitment to serving people living in poverty and confronting crises with innovative and audacious solutions. This report explores cases throughout BRAC’s history that demonstrate the organization’s commitment to tackling seemingly intractable challenges. Despite the difficulties and risk involved, BRAC’s dedication and motivation has always been to support people to realize their potential, and this is what guides our work through today’s uncertainties. As this history has inspired BRAC’s work, we hope it will inspire you as well. A LEARNING ORGANIZATION LOOKING FORWARD: BRAC is continuously innovating and iterating upon its EDUCATION IN SOUTH SUDAN programs to best serve the people for whom they are designed. Here, we share some of BRAC’s latest solutions addressing entrenched poverty.