ABA General Assembly Meeting on Appointment of New Board/Asset Classification
Date: January 16, 2016
On January 13, 2016, ABA conducted its board meeting and discussed in details the Asset Classification Regulation . It was observed that in the new Asset Classification, majority of ABA’s suggestions has not been considered. Therefore the implementation of new Asset Classification will affect the health of the banks and most of the banks will be under-capitalized. To have a through decision, all honorable members should be prepared for the coming General Bodies meeting fixed on Saturday 16th January at ABA Conference Hall , so the BoDs can take up these with DAB .
Beside this, it was decided during the meeting to hold the Election/Appointment for the BoDs for the two vacant Board members in the same General Bodies meeting where the Chairman of ABA will also be elected.In this respect , the interested CEOs/CMs were requested to send their nomination to the ABA before the General Assembly meeting.
Subsequently, on January 16, 2016, ABA conducted its General Assembly Meeting on review of new approved asset classification regulation and appointment of new member of ABA.
Agenda points:
1) Comments on Asset Classification
Amendments to the Asset Classification was reviewed and finalized for submission to DAB. It was also advised that the meeting will also be fixed with H.E Governor of DAB.
Action: The final version has been ubmitted to DAB.
2) Circular on Code of Conduct Secondary market
Members were briefed that so far only AUB has submitted their comments . It was advised that same code should be re-circulated to all the banks for final comments and then will be finalized through a follow-up working Group for submission to DAB.
Action: Circular on Code of Conduct Secondary was shared with member banks for their review and comments, to be back to ABA.
3) Appointment for the Vacant Board of Directors
General Bodies were briefed that presently ABA has three board members (Mr.Mukesh Verma as 1st Vice Chairman, Mr.Enayatllah Fazli as 2nd Vice Chairman and Mr. Deepak Shrivastava as Board member) .There is need of appointment the remaining vacant members of the board. Consequently three more board members were unanimously elected as new board members namely ;
1. Mr.Guy Mellat , CEO AIB Bank
2. Mr.Ahmed Javed Wafa, CEO Bank-e-Mellie Afghan
3. Mr.Gohar , Country Manager NBoP
In addition , members agreed that the Chairman will be elected by the board in the coming Board meeting to be fixed for this purpose .Further it was decided that two or more than two members banks belonging to the same group/shareholders, cannot have more than one member in the Board of Directors . For this ,Mr.Amiri was advised to make appropriate change to the ABA Articles of Association and share with member banks for their final feedback/ratification.
Action: The proposed change to the ABA Articles of Association was shared with CEOs/CMs member banks for their feedback/approval and requested to change the same clause for more transparency.
