ADFIAP welcomes 5 new members

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The ADFIAP Board, in its 67th Meeting in Tehran, Iran, confirmed the membership of five new institutions to the ADFIAP membership roster, increasing the number of members to 92 in 37 countries and territories. The new members of the ADFIAP include the Eurasian Development Bank, Esquire International Financing Inc (Philippines), the Coalition of Socially Responsible SMEs in Asia, the Center for SME Growth & Development Finance (India), and MNY Consulting Sdn Berhad (Malaysia).

Eurasian Development Bank (EDB) is a joint venture financial institution between Russia and Kazakhstan. It was established and operates in accordance with the agreement between the two countries on January 12, 2006. The purpose of the Bank is to contribute to the development and growth of market economy in the member-states and to promote trade and economic integration among them by engaging in investment activities. The Bank shall carry out its activities aimed at strengthening international financial and economic cooperation upon the principle that membership of the Bank is open to new states and international organizations. The Bank’s mission is to facilitate the development of market economies, economic growth and the expansion of trade and other economic ties in its member states by carrying out investment activities.

Esquire International Financing Inc., is a current venture for social benefit, providing microfinancing to small businesses. It was established in June 2006 at Morong, Rizal Province in the Philippines. After a month of its establishment, branches were opened in different cities and towns in Batangas Province. This was followed by the opening of branches also in the Province of Cavite. “Help Entrepreneurs Launch Plentitude Foundation (HELP) Inc., their business name, provides financial help to poor Filipinos who want to start a small business.

The Coalition of Socially Responsible SMEs in Asia, Inc., was established in 2001 (with the former name Asian Coalition for SME Development) as an offshoot of a regional conference on “Globalization and Development”. CSRSME Asia has since brought together leaders of SME networks from various Asian countries to share their visions, development perspectives, unique experiences and best practices on solidarity economy.

The Centre for SME Growth & Development Finance (CESMED) is an international advisory, development, training and research institution for SMEs and development financial institutions in Mumbai, India. CESMED with its twin objectives aims at promoting competitive and dynamic micro, small and medium enterprises (SME) sector with the support of banking and development financial system. This synergy is brought by CESMED through various programs, policy dialogue and capacity building initiatives.

MNY Consulting Sdn Berhad was incorporated in July 2006 initially as a sole proprietor. Later in February 2008, the company was converted into a private limited company and its objectives are: (a) financial consultancy; (b) management consultancy. Dato Md. Mohammad Noor Yusoff, ADFIAP Honorary Member and former Group CEO of Bank Industri Malaysia, is the key person at MNY.

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