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 Advisory Board 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 Advisory Board, 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 Advisory Board 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 Advisory Board has 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.