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Robin’s snippets – Finance meeting in TRNC?

Did this meeting really take place? Or was it so secret that no one at Zaman newspaper knew about it. The report is so full of holes IMHO it stinks.

Here is a list of members from the ADFIAP Web site.

Al Amanah Islamic Investment Bank of the Philippines
Amwal Credit Union
AMZ Ventures Limited
Andhra Pradesh State Financial Corporation
Antigua and Barbuda Development Bank
Asaka Bank
Asian Development Bank
Bank for Development and Foreign Economic Affairs
Bank for Investment and Development of Vietnam
Bank Jabar, Banten
Bank Keshavarzi
Bank Nagari
Bank of Industry and Mine
Bank of Khyber, The
Bank of Maharashtra
Bank of the Cook Islands
Bank Pembangunan Malaysia Bhd.*
Bank Perusahaan Kecil & Sederhana Malaysia Berhad (SME Bank)
Bhutan Development Finance Corporation, Ltd.
Bhutan National Bank, Ltd.
Business Development Bank of Canada
Capital Bank of Mongolia
Center for SME Growth and Development Finance
China Development Bank
Coalition of Socially Responsible SMEs in Asia
Commonwealth Development Authority
Credit Guarantee Corporation Malaysia Berhad
Development Bank of American Samoa
Development Bank of Jamaica, Ltd.
Development Bank of Japan, Inc.*
Development Bank of Kazakhstan
Development Bank of Samoa*
Development Bank of the Philippines*
Development Bank of Turkey
DFCC Bank*
Entrepreneurship Development Institution of India
Esquire International Financing, Inc.
Eurasian Development Bank
Expert-Import Bank of Malaysia Berhad
Export Finance & Insurance Corporation
Export-Import Bank of India
Export-Import Bank of Malaysia Berhad
Export-Import Bank of Thailand
Federated States of Micronesia Development Bank
Fiji Development Bank*
Fiji National Provident Fund
First Credit and Investment Bank Ltd.
Global Coalition for Efficient Logistics Asia
Global Procurement Consultants Ltd.
House Building Finance Corporation
IDBI Bank, Ltd.*
IFCI, Limited*
India SME Technology Services Ltd.
Indonesia Eximbank
International Bank of Azerbaijan
International Financial Consulting Ltd.
IPDC of Bangladesh, Ltd.
Japan Bank for International Cooperation
Japan Economic Research Institute, Inc.
Japan Finance Corporation, Micro-Business and Individual Unit
Johor Corporation
Karnataka State Financial Corporation
Korea Development Bank*
Land Bank of Philippines
Lanka Orix Leasing Company PLC
Lankaputhra Development Bank
Local Water Utilities Administration
Malaysian Industrial Development Finance Berhad*
Micro Finance Development Fund
Microfinance Development Association of Mongolia
MNY Consulting Sdn Berhad
Mongolian Chamber of Commerce and Industry
National Bank of Samoa
National Bank of Uzbekistan
National Development Bank of Palau
National Housing Bank
National Investment Company Pvt. Ltd.
National Small Industries Corporation of India, Ltd
Nepal Development Bank Limited
Nepal Industrial Development Corporation*
NIB Bank Ltd.
Niue Development Bank
Oman Development Bank
Oman Housing Bank
Pacific Islands Development Bank
Pak-Brunei Investment Company
Pak-Iran Joint Investment Co. Ltd.
Pak-Kuwait Investment Company (Pvt), Ltd.
Pak-Oman Investment Company (Pvt), Ltd.
Palestine Mortgage and Housing Corporation
Parsian Farda Investment & Financial Counsellors Institute
Philippine Export-Import Credit Agency
Philippine Postal Savings Bank, Inc.
Planters Development Bank
Public Development Bank, Ltd.
Queen City Development Bank
RCBC Savings Bank
Royal Insurance Corporation of Bhutan Limited
Rural Development Bank
Sabah Credit Corporation
Sabah Development Bank Berhad
Samoa Housing Corporation
Saudi Pak Industrial & Agricultural Investment Company, Ltd.
Seylan Bank
Small and Medium Enterprise Development Bank of Thailand
Small Industries Development Bank of India
SME Bank Limited
State Insurance Corp. for the Insurance of Export Credit & Investment
Syndicate Bank
The Brunei Economic Development Board
The National Development Bank
TMB Bank Public Co. Ltd.*
Tonga Development Bank
Trade and Development Bank of Mongolia
Turkish Republic of Northern Cyprus Development Bank
Vanuatu Agriculture Development Bank
Vietnam Development Bank
Zarai Taraqiati Bank Ltd.

The news article quotes visitors from Germany (which made me suspicious). On checking there are no German Banks or Companies listed in the membership list. A quick look at the Diary of this organization shows there is an entry for the 34th Annual meeting but no location. A distinct lack of TRNC banks in the membership list as well. Maybe it’s because there is a written code of conduct.


  1. As a financial institution interested in and devoted to the financing of development, we are engaged in the business of mobilizing funds to finance businesses or projects that are pioneering and innovative in nature in nature and those that contribute to the long-term development objectives of the country.
  2. Besides development financing we may also be mandated by law to also undertake commercial banking, insurance, leasing, security underwriting, stock brokering, micro-finance or other financial activities that support our mission of financing development.
  3. Our operations particularly in granting development loans and services will take into account and will be largely consistent with national rather than government priorities established by the government development authorities. In the absence of these guidelines, the national interest is to be determined by our Board of Directors according to the needs of the community or the country, and not according to their personal or political interests.
  4. In appraising development loans, we give first consideration to the long-term viability of the business or project rather than depending primarily on collaterals offered as security for the loan. We also recognize, that due consideration should be given to the project’s contribution to society and to the improvement and protection of the environment.
  5. We treat all sectors of society fairly in the dispensation of services which they may require and are qualified to receive regardless of creed, color, social status or political affiliation. To be fair means not to deny any meritorious support, financial or any other form of assistance, which they may require.
  6. We are transparent in the conduct of business. To be transparent means avoiding conflict of interest, rejecting favors or gifts for services, and abiding by the laws and regulations for undertaking financial transactions. When in doubt, we will consult with appropriate authorities with supervisory functions over us.
  7. We provide accounting of our institution’s development efforts, though our annual and other reports, which are public documents describing the accomplishments of the institution, and the resources committed to development. We are audited by qualified professionals and all regulatory requirements are complied with.
  8. We treat officers and employees fairly; compensate them equitably; respect their cultural values and beliefs; equip them with a development mind and the skills to effectively and efficiently carry out their development financing functions; and discipline those who commit all forms of graft, dishonesty and corruption.
  9. We aim to operate with utmost efficiency for the benefit of the stakeholders and the public, in general. Our institutions have a business objective and are not social development organizations.



  1. To use the institution’s resources-money, time, assets and people-in the most effective and efficient manner.
  2. To adhere to the institution’s own code of behaviour and comply with its rules and regulations governing discipline.
  3. To keep all information confidential and avoid unauthorized disclosures.
  4. To comply with banker’s and /or other professional code of ethics and prevailing laws and regulations in respective member countries.
  5. To be accountable for own decisions and responsible for actions arising from the effect of these decisions.
  6. To provide responsive services to clients, especially to those who have the least access to resources for development.
  7. To avoid unethical behavior or corrupt practices and to maintain the integrity of the institution at all times, including the reporting to appropriate authorities, actual cases of or attempts to defraud the institution or defame its integrity and good name.
  8. Finally, to implore the guidance of the Divine Providence for the attainment of the institution’s development mission and to give thanks for its achievements.

I don’t see Lefkosa on the list


» EU experts visit ADFIAP Secretariat – 04/15/2011

» ADFIAP participates in international symposium calling for integrity in banking profession – 04/12/2011

» ADFIAP financial assets reach US$ 1 million mark, a milestone – 04/12/2011

» ADFIAP meets with GCGF on board leadership seminars – 04/12/2011

» ADFIAP updates CIPE on new CSR program – 04/12/2011

» ADFIAP briefs IDB on its work and advocacy – 04/12/2011

» ADFIAP speaks at World Bank forum – 04/12/2011

» ADFIAP participates in sustainability workbench forum – 04/11/2011

» ADFIAP, JBIC to introduce J-MRV to members – 04/11/2011

» AC attends national microfinance stakeholders summit – 04/07/2011

» AC conducts two SME access to finance workshops in Colombo – 03/30/2011

» AC makes courtesy call to ADFIAP Chair – 03/30/2011

» ADFIAP Awards Board meet to name this year’s winners – 03/29/2011

All smoke and mirrors again? Like the Visit of Hilary Clinton. Even the photos on the website of ADFIAP show pictures of people standing in front of a bank in Turkey (not TRNC). The photos were dated 26.4.2011.

Is this another PR balloon? Yet another banking lie?


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