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    • Eligible Beneficiary(ies) (For Purposes of Module AU_Microfinance Institutions)

      Low income individuals and small businesses, who are not eligible to secure financing facilities through the banking system that intend to get a credit facility to engage in small economic activities (examples: small farmers, fishermen, related activities, etc.).

      Added: January 2014

    • Employees

      An individual: a) who is employed or appointed by a person in connection with that person's business, whether under a contract of service or otherwise; or b) whose services, under an arrangement between that person and a third party, are placed at the disposal and under the control of that person.

      Amended: January 2011

    • Executive Director

      Means a director who is an officer or employee, or is otherwise involved in day-to-day management, of either:

      (a) The licensee;
      (b) Another company which is a controller of the licensee;
      (c) Another company of which the licensee is a controller; or
      (d) Another company which is controlled by a controller of the licensee.

      In this definition, the word "company" which is a controller of the licensee excludes sovereigns such as government owned entities and government ministries.

      Amended: April 2012
      Amended: April 2011
      Added: January 2011

    • Expert Investor

      Expert investors are:

      (a) Individuals who have a minimum net worth (or joint net worth with their spouse) of USD 100,000, excluding that person's principal place of residence;
      (b) Companies, partnerships, trusts or other commercial undertakings, which have financial assets available for investment of not less than USD 100,000; or
      (c) Governments, supranational organisations, central banks or other national monetary authorities, local authorities and state organisations.
      Added: December 2018