ADFIAP has added three more new members to its roster as the year ends, bringing the total to a record 87 members in 37 countries. Pak-Brunei Investment Company Limited of Pakistan, Eco-Frontier of Korea, National Investment Company P. Ltd of Nepal, and Pak-Iran have joined the Association.
Pak-Brunei Investment Company Limited is a full service development financial institution established as a joint venture between the Government of Pakistan and Brunei Investment Agency. The company received its Certificate of Commencement of Business from the State Bank of Pakistan in August 2007. It has a total paid-up capital of PKR 3 billion that will increase by 1.0 billion at the end of each year until it reaches 6.0 billion as per the State Bank of Pakistan regulations.
Eco-Frontier, was established to contribute in achieving global sustainable development by incorporating social and environmental values into economic value. Eco-Frontier aims to provide companies, financial institutions, localities, governments and international organizations with knowledge-based and highly value-oriented sustainability solutions from research, consulting, environmental technology, information technology, regulatory and financial advisory service, even to services for creating and commercializing of new types of businesses. In 1998, it was designated by the Ministry of Science and Technology of Korea as an eco-system research institute. In 2002, an exclusive partnership was forged with Innovest Strategic Value Advisors (Financial Advisory) and became a voting member of the Association for Sustainable and Responsible Investment in Asia (ASRIA). In 2005, its partnership with UNEP-FI became the official point. In 2007, it became a member of the UN PRI (Principles for Responsible Investment).
The National Investment Company Pvt. Ltd. of Nepal 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 Register’s Office on July 2003. The main proponent of the company, Mr. Bhakta Pralhad Pandey, has also served as General Manager (CEO) of Nepal Industrial Development Corporation from the period of September 24, 2002 to September 23, 2003. Its authorized and paid up capital is Rs 5 Million and the company is in the process of increasing its authorized and paid-up capital to Rs 50 Million. A team of professionals headed by Mr. Pandey himself, manages the day-to-day operation of the company while the Board of Directors, headed by Mr. Ajaya Kumar Mishtra, Chairman, formulates the plans and policies appropriate for the company.
Pak-Iran Joint Investment Company Ltd. was formed as a joint venture between the Governments of Iran and Pakistan. It is a public limited company notified as a development financial institution operating in Pakistan. The company received its certificate of commencement of business in May 2007 and recently started its operations. At present, the management is focusing on team building in order to fully establish the company as a development financial institution with a focus on promotion investments from Iran to Pakistan.