Association for Social Advancement

ASA ( _bn. আসা) is a non-governmental organization based in Bangladesh which provides microcredit financing. It was established in 1978 by Shafiqual Haque Choudhury and microfinance lending began in 1991 [http://www.asabd.org/] . Since then it has become one of the largest fully self-sufficient microfinance institutions in the world.

Its mission is to "reduce poverty and improve the quality of life of the poor through the provision of qualitative and responsive micro finance services in an innovative and sustainable way" [http://www.asabd.org/] .

ASA offers a successful alternative microfinancing model to that of the Grameen Bank.

ASA combines low cost operations and high growth to fuel its success. ASA continues to perfect the role of financial intermediation by developing a variety of savings products that are quite successful at generating the necessary funds from local sources.

Operating Information

Up to December 2005 ASA's Cumulative Loan Disbursement was Taka 148,197 million. Loans outstanding Taka 19,379 million among 4.18 million borrowers. At the end of 2005 ASA's Operational Self Sufficiency (OSS) is 275.24%, Financial Self-sufficiency 169.73% and rate of loan recovery 99.88%. Up to 2005 ASA operation expanded over 2,291 branches under 64 administrative areas all over in Bangladesh.

Future Plans

ASA is currently involved in advising various organizations in setting up micro-credit facilities in several countries worldwide (e.g. Philippines, Nigeria, Indonesia, India, Pakistan, Tajikistan, Afghanistan, Yemen, Jordan, Ethiopia, Myanmar, Peru).

[http://www.asabd.org "ASA WEBSITE"]