ADFIAP welcomes 3 new members, ups roster to 113

ADFIAP welcomes three new members, two from India and one from Samoa, bringing the total membership to a record high of 113 members in 42 countries and territories.

The Syndicate Bank,, was established in Udupi, Kartanaka State, India in 1925.  One of the pioneers in using technology in banking, Syndicate Bank today has the distinction of having 100% centralized solution network.  Syndicate e-banking enables the delivery of banking products and services over multiple delivery channels besides providing single window facility for all banking transactions.  The Bank’s core strength lies in providing personalized services to customers backed by state of the art technology through its over 2,250 branches spread all over India.  The Bank’s innovative savings scheme – Pigmy Deposit Scheme – is considered as the first ever concept on financial inclusion introduced by any bank in India.  The Bank was the first to introduce agricultural lending by bringing agricultural graduates into the Bank’s fold.  The Bank’s “Kisan Credit Scheme” was the first ever credit card scheme introduced for the benefit of the rural farmers. The Bank was also the first commercial bank to introduce Grameen Bank concept in India. It is truly a “Small Man’s Big Bank”. The Bank’s Chairman and Managing Director is Sri Basant Seth.

Kartanaka State Financial Corporation (KSFC),  is a State level financial institution established by the State Government in1959 under the State Financial Corporations Act 1951 to meet mainly the long term financial needs of Micro, Small and Medium Enterprises (MSMEs) in the State of Karnataka. Today, while the State economy is making rapid strides in the global market, KSFC is moving in tandem. As a pioneering and responsive financial institution, KSFC is fine-tuned to fulfill the plans and aspirations of entrepreneurs by extending all possible assistance. Amendments to the SFCs’ Act provide for extending wide ranging scope of assistance and operational flexibility. Keeping this in view, KSFC has re-engineered itself to ensure utmost customer satisfaction with new energy, thrust and speed. In the 50 years of its existence, KSFC has contributed most significantly for the growth of SMEs, backward area development and promotion of first generation entrepreneurs. Its achievement in these areas is unparalleled. Since inception, KSFC has assisted more than 1.60 lakh units with cumulative sanction of more than Rs.9,102 crore out of which about than 50% is towards SMEs. KSFC an ISO 9001:2000 certified organisation is proud to have played a major role in the industrial development of the State. It is also the proud privilege of KSFC to have assisted many industries that are internationally recognized like Infosys and Biocon. KSFC’s Managing Director is Sri Kaushik Mukherjee, I.A.S.

Samoa Housing Corporation (SHC) was established in 1990 to provide loans for housing or purchase of land for residential purposes.

The Corporation is governed by Board of Directors and solely government owned.  Its capital is $10 million Samoan Tala (US$4.3 million) and borrowing from local financial institutions is its major source of capital for onlending.  The Corporation’s main clientele is the low-to-middle-income group since the majority of this sector has no collateral and guarantees are provided by those with secured employment.   The main office of SHC is located in the centre of the capital town Apia and a branch is located in the bigger Island for people to access the Corporations services throughout the country.  A review of the current legislation is now in Parliament to broaden its activities and improve its viability and to comply with existing related laws.  The areas of activities where SHC would like to benefit from with its membership in the Association include:  staff and professional development, information exchange, business cooperation/networking, and schemes on housing development.  Matautia Rula Levi is SHC’s CEO.

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