Dubai, 30 August 2017 – The Aga Khan Agency for Microfinance (AKAM) is hosting the Global Alliance for Banking on Values (GABV), which works to make the banking system more transparent, sustainable (socially, economically and environmentally) and relevant to the needs of the “real economy”.
Representatives of institutions in the Asia-Pacific region are discussing how to harness and build a more equitable financial system – one that allows for sustainable growth and prosperity – in the region and around the world.
Jesse Fripp, AKAM’s General Manager, spoke of the importance of gathering banks that are values-based. He said,
“AKAM is fully supportive of the GABV vision of creating a financial system which is equitable, sustainable and grounded in a focus on investing in the real economy. AKAM is pleased to be a contributing partner, along with dozens of GABV member financial institutions, in delivering the resources and tools for financial choice and control to enable individuals, households and communities to fully realize a meaningful quality of life.”
Dr Marcos Eguiguren, GABV’s Executive Director, said
“Values-based financial institutions have a clear intention in the use of the depositors’ money. They are transparent and they show where the money of the depositors is going. They only invest in the real economy and only in those projects that add prosperity to the communities they serve and / or support projects that are positive for the environment. Through our focus on the real economy and sustainability, our strong capital positions and our steady financial returns, we have demonstrated that the values-based banking model provides a viable and a much-needed alternative, adding strength to a diverse financial ecosystem.”
Attendees include the Bank Australia, the Bank of Palestine, BRAC Bank and BRAC Microfinance, Centenary Bank, FMO, LAPO Microfinance Bank Ltd., NMB Bank, SME Finance Forum, XAC Bank, Bandhan Bank, CARD Bank, OikoCredit, Teachers Mutual Bank and various institutions that are part of AKAM or the Aga Khan Fund for Economic Development.
The Ismaili Centre in Dubai is hosting the meeting.
For more information, please contact:
Aga Khan Agency for Microfinance