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ADFIAP welcomes 4 new members

4 new membersThe ADFIAP Board, during its 79th Meeting in Moscow, Russia, has confirmed the membership of the following institutions: Partnership for Economic and Social Initiatives (Azerbaijan), First Private Bank Limited (Myanmar), Perbdanan Usahawan Nasional Berhad (Malaysia), and Employees Provident Fund (Nepal).

Partnership for Economic and Social Initiatives (PESI) is a local think tank based in Baku, Azerbaijan. It aims to promote social cohesion and economic development for better functioning democracy and market economy in Azerbaijan. Since its inception, PESI has been working to promote social dialogue, benchmark innovative business practices, strengthen social partnership for sustainable development, increase citizen participation for building vibrant and dynamic civil societies, amplify local and international efforts for the development of sustainable and resilient business climate, empower women and youth to achieve equal participation and full integration into the social, economic and political life of the country. PESI’s Excutive Director is Mr. Farid Malikov.

First Private Bank (FPB) Limited was established in 1992 as a company that is 100% publicly-owned. It has received its first commercial banking license on May 25, 1992 and investment and development license on November 10, 1993. On August 24, 2012, it acquired its foreign banking license. FPB has paid dividends every year, the latest of which is 15.6% dividend for the year 2012 to 2013. FPB has no NPL for the last 5 years. Dr. Sein Maung is the Chairman of FPB.

Perbadanan Usahawan Nasional Berhad (PUNB) is Malaysia’s national entrepreneur corporation. It was incorporated on July 17 1991 under the Malaysian Companies Act of 1945. PUNB’s business operations are focused on providing integrated entrepreneur development packages to assist Bumiputera entrepreneurs in retail and small and medium-sized enterprise (SME) sectors. These development packages are designed to help Bumiputera entrepreneurs develop business acumen, maintain a profitable venture and shape their enterprise. PUNB’s Chief Executive Officer is Mr. Dzulkifli Fadzilah.

Employees Provident Fund (EPF) manages the Provident Fund (PF) in Nepal on behalf of the Government of Nepal for government, public and private sector employees and operates under the Ministry of Finance. EPF manages the provident fund that is intended to help the contributors financially on retirement or separation from their respective jobs. Aside from managing the provident fund, EPF also provide certain social benefits. Its membership is open to all private sector firms on the condition that the firm has a minimum of 10 regularly contributing employees. The Chief Executive Officer of the Fund is Mr. Krishna Prasad.


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