ABA Establishes Credit Standing Committee
date: August 02, 2016
On August 02, 2016 ABA conducted meeting of CCOs/Credit Heads of Member banks to discuss on formation of the Credit Standing Committee in ABA Office. The purpose of establishing such committee is to improve credit scenario in the banking sector, to identify and address deficiencies in credit area with an aim to encourage commercial banks to lend with confidence and to assist ABA for accelerating debt recovery process/ reduction of Non-Performing Loans (NPL) through lobbying with Court, the ministry of Justice and other stakeholders.
The meeting was chaired by Mr. Najibullah Amiri ED ABA. He updated participants on Financial Law Debt recovery workshops that took place in in India, Dubai and following Debt Recovery Working Group meetings and impotence of the Credit Standing Committee under ABA. Mr. Amiri stated that ABA plans to form Credit Standing Committee to address credit deficiencies and credit related problems of the banking sector, which the members agreed.
Finally in compliance of the directions of General Assembly of ABA and after detailed discussions a committee called “Standing Committee on Credit” was formed.
The Committee comprise of a Chairperson, two Vice Chairpersons and one Secretary.