“Overwhelming response received for ASBA process” – SEBON

Applications Supported by Blocked Amount (ASBA) system, that was introduced for public offering for the first time with the IPO of Forward Community Microfinance, has received an overwhelming response from the applicants. Issuing a press statement, SEBON said that it had appointed a total of 10 inspection teams at various branches of banks that provide ASBA service, and that it has received an overwhelming participation. SEBON has also urged all concerned parties to contact SEBON in case of any confusion or problems relating to its implementation. 23 commercial banks and 11 development banks have so far received approval for ASBA.