ADFIAP welcomes 5 new members

logos of new membes2The ADFIAP Board of Directors, during its 80th Meeting in Kuala Lumpur, has confirmed the membership of the following institutions: Iskandar Regional Development Authority (IRDA), JSC Development Bank of the Republic of Belarus (DBRB), National Investment Company P Ltd (Nepal), Tose’e Ta’avon Bank and Majlis Amanah Rakyat (Malaysia).

IRDA,, is a Malaysian Federal Government statutory body tasked with the objective of regulating and driving various stakeholders in both public and private sectors towards realizing the vision of developing Iskandar, Malaysia into a strong and sustainable metropolis of international standing. IRDA looks forward to availing of ADFIAP’s staff and professional development, information exchange and business cooperation/networking programs. IRDA’s Chief Executive is Datuk Ismail Ibrahim.

DBRB was established in 2011 upon consultation and in cooperation with the International Monetary Fund (IMF) and the World Bank and is entirely owned by the Republic of Belarus. The main goals of the Bank are financing long-term infrastructure and socially-important investment projects, assistance in the development of the economy and foreign trade in Belarus. The Bank wishes to benefit from information exchange, capacity-building, staff and professional development programs, and business cooperation and networking that the Association provides. DBRB’s Chairman of the Management Board is Mr. Sergei Roumas.

Tose’e Ta’avon Bank (Cooperative Development Bank) was established according to the approved article of association and the state monetary and banking rules, with cooperative approach to achieve the 25 percent share of cooperative sector in national economy and to promote and exploit the total capacities in cooperative sector in order to reach economic and social stable development. The Bank would want to avail of the staff and professional development programs and business cooperation and networking activities of the Association. The Bank is headed by its Chairman & Managing Director, Mr. Mohammad Ali Sahmani.

National Investment Company P Ltd is involved in the business of investment and investment management, including investment and financial consultancy mainly in development financing. It is a private limited company registered with the Company’s Register Office on July 2003. National Investment Company P Ltd wishes to avail of the various services that the Association offers like staff and professional development, information exchange and business cooperation/networking programs. The CEO, Mr. Bhakta Pralhad Pandey, has also served as General Manager/CEO of the Nepal Industrial Development Corporation (now NIDC Development Bank), also a member of ADFIAP, from the period September 24, 2002 to September 23, 2003.

Majlis Amanah Rakyat (MARA), or the Council of Trust for the People, an agency under the purview of the Ministry of Rural and Regional Development (Malaysia), was established on 1 March 1966 as a statutory body by an Act of Parliament as a result of the first Bumiputera Economic Congress resolution in 1965. The Council is responsible for developing, encouraging, facilitating and fostering the economic and social development in the federation, particularly in rural areas. MARA is an autonomous body, responsible to the Minister of Rural and Regional Development. The MARA Council consists of the Chairman, Deputy Chairman and nine other members, three of whom are from the civil service. All Committee Members are appointed by the Minister of Rural And Regional Development. The Director-General is the Chief Executive. He is assisted by three Deputy Director-Generals. The departments are headed by the Directors while the units are under the control of the Heads of Units. They carry out MARA’s functions at the headquarters level. MARA is supported by 14 offices at the state level including the Federal Territory of Kuala Lumpur and Labuan and offices at the district level. In addition, MARA has offices which operate in London, Washington D.C., Jakarta, Dublin, Frankfurt and New South Wales. MARA would want to avail of the staff and professional development and information exchange on aspects of development finance that is being offered by the ADFIAP.

Related News