Our corporate governance is guided by a triple bottom-line approach which we consider crucial for creating long-term sustainability and delivering value for our shareholders/customers, employees and society at large in line with Sustainable development Goals (SDGs). In its functioning, the Board of Directors is guided by a code of ethics. Established in 2017 as a unitary board comprised of executive and non-executive members, we engage with all stakeholders including customers, employees, partners and shareholders to maintain transparency and accountability. All reporting takes place in line with international financial reporting standards (IFRI) with a timely disclosure to relevant stakeholders. To put our mission into practice, governance is aligned with SMART campaign’s client protection principles and the social performance management framework by the Social Performance Task Force (SPTF).

The Board meets on a monthly basis and includes an independent director who also chairs the Audit and Risk Committee (ARC) which primarily manages and oversees key credit related risks and internal audit findings, accordingly providing strategic direction to manage these risks effectively. Furthermore, to support the complete functioning of our Board of Directors, a Remuneration and Nomination Committee has been established. This committee deals with all personnel related matters and works towards ensuring a healthy and inclusive workplace. This is complemented by management level committees (ALCO, Grievance and Excom) allowing the Board of Directors to manage risks arising from imbalances in the capital structure through ALCO and issues of concern at the management level.

As a subsidiary of Myanma Awba Group, an industry leader in the agriculture sector, our Board of Directors have experience and expertise in understanding the needs of smallholder farmers and micro & small enterprises in rural Myanmar. We recognize that many rural farmers still lack access to formal credit, therefore digitization and robust risk management will be key for us in improving Maha’s outreach.

Corporate Structure

MAHA is part of Myanmar Awba Group . Our shareholders and governance are detailed here . Our governance structure is summarized below:

Board Responsibilities


As a subsidiary of Myanma Awba Group, an industry leader in the agriculture sector, our Board of Directors have experience and expertise in understanding the needs of smallholder farmers and micro & small enterprises in rural Myanmar. We recognize that many rural farmers still lack access to formal credit, therefore digitization and robust risk management will be key for us in improving Maha’s outreach.

Meeting attendance & activities of the Board

In FY 22/23, the Board met 11 times. The Board was focused on safeguarding MAHA’s sustainability, the security and integrity of its assets, the health and safety of its staff, and the continuity and compliance of its operations. It also reviewed and ensured that MAHA’s mission was still relevant.

The main topics covered were:

  • MAHA’s strategy
  • Financial position
  • Projects
  • Risk management
  • Compliance and audit
  • Consequences of political crisis
  • Succession planning
  • Evaluation
  • Remuneration of key management people
The attendance of each Director is mentioned here .

Policies

The Board is accountable for validating, reviewing and overseeing the implementation of the following policies across the Group:

GOVERNANCE FRAMEWORK

TRANSPARENCY & RESPONSIBILITY

HEALTH, SAFETY & ENVIRONMENTAL POLICY

ADDRESSING GRIEVANCES

Risk management

The Board of Directors is ultimately responsible for defining Maha's risk appetite and overseeing risk management: the work is led, on behalf of Maha's Board, by the Chair of our Audit and Risk Committee, who is also an independent Board member. The Chair works closely with our COO, who is also tasked with risk management. The table below summarises how we manage some of our most material risks.