IPDC CEO Mominul Islam now chairman of ADFIAP

Mominul Islam, managing director and CEO of IPDC Finance, has been elected as the chairman of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP).

The election took place today at the 94th ADFIAP Board of Directors' meeting held in Almaty, Kazakhstan.

Islam will continue playing in the role until the next annual meeting of ADFIAP next year, the association said in a statement.

Saud A Minam, CEO of Fiji Development Bank; Thach Kao, CEO of Agricultural and Rural Development Bank of Combodia, and Aria Putera Ismail, group president and CEO of SME Bank Malaysia Berhad, have become the vice president 1, 2 and 3 respectively.

The ADFIAP is the largest and most prestigious association of development banks and other financial institutions engaged in the financing of sustainable development in the Asia-Pacific region.

It is the focal point of all development banks and other financial institutions engaged in this region.

The association's mission is to advance sustainable development through its members.

Founded on October 1 in 1976, ADFIAP currently has 90 member-institutions in 40 countries.

ADFIAP headquartered in Manila of the Philippines was established under the auspices of the Asian Development Bank.

The latter remains a special member of the association and counts among its member institutions.

ADFIAP is a founding member of the World Federation of Development Financing Institutions comprising similar associations in Africa, Latin America, and the Middle East.

It is a nongovernmental organisation in consultative status with the United Nations Economic and Social Council.

This year, ADFIAP's annual meeting is being held at Almaty, Kazakhstan with the presence of 250 delegates from 40 countries.

The deputy prime minister of Kazakhstan, Yerulan K Zhamaubayev, inaugurated this year's annual meeting on May 15.