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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 2011Executive Director
Means a director who is an officer or employee, or is otherwise involved in day-to-day management, of either:
(a) Thelicensee ;(b) Another company which is acontroller of thelicensee ;(c) Another company of which thelicensee is acontroller ; or(d) Another company which is controlled by acontroller of thelicensee .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 2011Expert 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