Defining Success in Micro Finance: ASA in Myanmar, Bangladesh & India

This dissertation investigates the success of microfinance, specifically focusing on the operations of ASA (Association for Social Advancement) in Myanmar, Bangladesh, and India. The research explores the rationale behind the study, which aims to evaluate ASA's performance and its contribution to the growth of these South Asian countries. The study examines ASA's microfinance services, including micro-credit and insurance, and analyzes its impact on low-income groups. The research employs a literature review to define key concepts such as microfinance and NGOs, along with a discussion of the research methodology, including the use of secondary data from ASA's annual reports. The analysis and findings section will delve into the data to answer research questions regarding ASA's success in each country and identify the factors driving this success. The dissertation concludes with recommendations for improving the microfinance system and implications for future research. The study considers the role of microfinance in the context of developing economies and the importance of understanding the factors that contribute to the success of microfinance institutions like ASA. This research aims to offer insights into the impact of microfinance on economic development and social advancement in the targeted countries.

Dissertation topic is "Defining
Success in Micro Finance Market: An
Analysis of ASA NGO/ ASA International
Operations in Myanmar, Bangladesh &
India".

Table of Contents
ABSTRACT.....................................................................................................................................1
CHAPTER 1: INTRODUCTION....................................................................................................2
Overview of the Research............................................................................................................2
Background of the Research........................................................................................................3
Rationale of the Research............................................................................................................4
Research aim, objectives and question........................................................................................4
Introduction of next chapters ......................................................................................................5
CHAPTER 2: LITERATURE REVIEW.........................................................................................6
Success of ASA in India and Bangladesh....................................................................................6
Success of ASA in Myanmar.......................................................................................................8
Success which has been attained by ASA in Asia by their micro finance venture....................10
Measures by which micro finance market is getting success by coordination in ASA.............12
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................14
Research Philosophy..................................................................................................................14
Research Design.........................................................................................................................15
Research approach.....................................................................................................................16
Primary and secondary data.......................................................................................................16
Qualitative and quantitative data...............................................................................................17
Questionnaire.............................................................................................................................17
Techniques of analysing data.....................................................................................................20
CHAPTER 4: ANALYSIS and FINDINGS..................................................................................21
Data analysis..............................................................................................................................21
Link between literature review and findings.............................................................................41
CHAPTER 5: CONCLUSIONS & RECOMMENDATIONS......................................................42
Findings......................................................................................................................................42
Limitations and restrictions........................................................................................................43
Recommendations......................................................................................................................44
Implications................................................................................................................................45
REFERENCES..............................................................................................................................46

ABSTRACT
Micro finance is a small loan which is credited in the account of unemployed and low
income group who have no source of income. This report is comprising five parts which are
Introduction, in which a brief of micro finance is given. The organization used in this report
which gives credit to its customer is ASA (Association for Social Advancement). Since Micro
finance is for the low-income groups therefore this report is accurate in the study of Asian
countries like India, Bangladesh, and Myanmar etc. These countries have large number of
population Therefore there is a great scope of micro finance in these countries. Apart from
introduction, Literature review are also discussed in which defines non-government
organizations and to show that different examples are also discussed. Main aim of this research
report is to evaluate success of ASA. Success of this association is ascertained by reviewing
various aspects present in annual reports of this organisation such as number of clients attained,
profitability, growth of countries, level of unemployment in nation and etc. After the Literature
review, Methodology is discussed in which the process of planning, designing of report is
explained. It also shows the type of data used in this research. Next section after methodology, is
analysis and findings, in which the data used before will be analysed and an information is
produced to answer the research questions. Conclusions and recommendations are also discussed
in this report to conclude what has in this report.
This research report is based on the concept of micro finance and success of its market. In
order to better understand this topic, ASA is selected as an organisation which is involved in
providing micro finance to various Asian and African countries. In this dissertation report,
introduction and background about topic and organisation is developed along with literature
review in which research questions are addressed in detail with the help of author’s point of
view. In order to provide evidence to conclusion and recommendations, secondary data is used
which is acquired from annual reports of ASA. All the data is analysed and evaluated using data
analysis.
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Dissertation Topic:
“Defining Success in Micro Finance Market: An Analysis of ASA NGO/ ASA
International Operations in Myanmar, Bangladesh & India.”
CHAPTER 1: INTRODUCTION
Overview of the Research
Microfinance is a service of providing micro credit or micro insurance services of small
values to individuals to help smaller section of society such as people of low income group
(Mersland and Strom, 2014). Microfinance market is a marketplace where banks and other
financial institutions provide microfinance facilities to various individuals. Success of this
market is largely depends upon development of an economy. Microfinance market is a not a
requirement which are already developed as they are capable for acquiring finance for various
sources (Moss, Neubaum and Meyskens, 2015). Scope of this market considered to be large in
countries which are developing their industries and which has high population such as India,
Bangladesh, Myanmar, Pakistan and many more. Success of Microfinance market largely
depends upon various aspects such as awareness about benefits of this market, preference
towards business and many more. In this research report, success of Microfinance market is
analysed by referring to an organisation which is involved in providing micro finance to
individuals that is ASA or Association for social advancement.
In this report, success of this marked is evaluated by conducting a research about ASA
international operations in Myanmar, Bangladesh and India. These countries are appropriate for
conducting this type of research, as they have underdeveloped or developing economies and also
has a large population. In order to provide evidence to the research results, secondary method is
used to conduct investigation. Secondary data is identified by referring to data which is pre
published by reliable sources. Annual reports of ASA is taken as secondary data which is used to
analyse success of Microfinance market. In this report intense research about micro finance
market and about ASA is conducted. Main aim behind conducting this research is to ascertain the
benefits of ASA to the countries like India, Bangladesh and Myanmar. By conducting this
research, investigator can build an understanding about the concept of Micro finance.
Research gap is the area which limits investigator to conclude their results. This research gap can
occur due to insufficient information. In this investigation, research gap which has been
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ascertained is success report which is important to be acquired to ascertain level of growth of
ASA. This research gap can be bridged by interpreting annual reports of ASA as these reports
has all the information such as client turnover, profitability, investment return ratio and many
more from which level of success can be ascertained (Quinones and Remenyi, 2014).
Background of the Research
Micro finance is a narrow concept which includes services like micro credit, micro savings
and micro insurance. The background of these services is its aim which is to provide benefit to
that group of society which are below poverty line or has low income group. Micro finance
services are provided by banks and other financial institutes. These institutes provide help to
smaller section of the society who are not able to fulfil their basic requirements of livelihood due
to low earnings. The most important factor of this finance is that loan or credit of small amount
is provided without any guarantee. It is hard to acquire funds by the people who has low income
group has they do not have any guarantee but with the help of micro finance even they can
acquire credit. This service helps individuals to start their own business by acquiring finance on
low rate of interest (Shahriar, Schwarz and Newman, 2016).
In order to better understand success of Microfinance market, an organisation is selected
which operates to provide microfinance services to individuals. This organisation is ASA or
Association for social advancements which operates in 12 countries of Asia and Africa. In order
to research about the background of this organisation, it has been ascertained that ASA is
incorporated in April 2007 and has secured a loans of billions from various foundations such as
Bill and Melinda Gates Foundation. In the year of 2018, this association established and acquired
existing microfinance institutes in several countries of Asia such as India, Pakistan, Sri Lanka
and Ghana. In the period of 11 years that is from 2007 to 2018, this association has their micro
finance institutes in 12 countries which are Myanmar, Pakistan, Bangladesh, India, Ghana,
Kenya, Uganda, Nigeria, Philippines, Tanzania, Rwanda and Sierra Leone. The most important
accomplishment of this association is that in the year 2018, ASA completes its premium listing at
the main market of the London Stock Exchange. In this research report, success of micro finance
market has to be ascertained which can be determined by success of ASA. Functioning of ASA
in only three countries has to be analysed in this research. All the information for determining
solutions for research is acquired from annual reports of ASA (Weber and Ahmad, 2014).
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Rationale of the Research
Rationale refers to the reason due to which a particular research is conducted by the
researcher. Main rationale behind conducting this research is to ascertain the level of success
which has been attained by ASA. This research work can help investigator to determine various
aspects which has been mentioned in annual report of ASA by which success of this association
can be identified. Investigator can enhance their knowledge about microfinance and also about
its services such as micro credit and insurance. A research work usually benefits for two kinds of
groups. The first one is the researcher as they can build understanding about the topic and second
group is people who further reads this research work. Readers who will further review this
investigation can improve their knowledge and can conclude situation of ASA immediately
without performing any individual investigation. The main aim or rationale behind conducting
this investigation is to ascertain whether or not ASA is successfully conducting their business.
Readers can ascertain benefits to countries by providing them facilities of micro finance. Issues
can also be identified by investigator which can assist readers about techniques by which this
system of micro finance can be improved.
Research aim, objectives and question
Research aim is the overall goal of a research which has to be fulfilled at the end of the
investigation. Research aim of this research project is “To evaluate Success in Micro Finance
Market”, An Analysis of ASA NGO/ ASA International Operations in Myanmar,
Bangladesh & India.
Research objectives describes the aspects which are required to be achieved by the
investigator from a particular investigation. Research objectives are clear and concise declarative
statement which direction to investigate variables. Objectives for this research are mentioned
below:
 To understand the role of micro financing in the growth of certain South Asian countries
such as Myanmar, Bangladesh and India.
 To understand how ASA NGO can achieve success in Micro finance market of India,
Bangladesh and Myanmar.
Research questions are the aspects which are required to be identified or answered through
the research work. These questions are generally based on the aims and objectives of an
investigation. Research questions for this particular investigation is mentioned below:
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 Is ASA is successful in India and Bangladesh?
 Is ASA is successfully working in Myanmar?
 By considering usual social and economic conditions, how much success has been
attained by ASA in Asia by their micro finance venture?
 What are the measures by which micro finance market is getting success by coordination
in ASA?
Introduction of next chapters
This dissertation report is based on the topic of ascertaining micro finance success by
evaluating performance of ASA. This research report is classified into five categories which are
mentioned below:
CHPATER 1: INTRODUCTION
In introduction various things are discussed by the researcher in which the information of
the project topic, what the researcher is going to explain in whole project, vital background
material which is required to formulate the research document, all the objectives of research and
the research questions and aims have also been addressed by the research in the introduction part.
It is also very important to write about the method or way which is going to be be followed in
next chapters. All such type of information had been written by the researcher in the
introduction.
CHAPTER 2: LITERATURE REVIEW
In literature review the research is going to provide reviews on key academic literature on
various topics that are required to form the research questions. These questions are used to define
success, micro finance, non government organisations and such type of case studies that are
required to studied while conducting a research. It is also going to be clarified by the researcher
the links between research question and literature review.
CHAPTER 3: RESEARCH METHODOLOGY
In methodology researcher will provide the explanation of that way in which research has
been planned, designed and conducted. Two type of data will also be used by researcher that are
qualitative and quantitative. All the research questions and objectives are also going to be
clarified in the methodology section. Various sources of data collection are also going to be
explained and the techniques that are used to analyse data will also be discussed.
CHAPTER 4: ANALYSIS & FINDINGS
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In this chapter the researcher will present the analysis of findings, show clear links to the
literature review chapter and also going to answer the research questions. All the findings are
going to be presented in the form of charts, graphs and tables.
CHAPTER 4: CONCLUSION & RECOMMENDATIONS
In conclusion the research will discuss about the findings, include the limitations of the
section and the recommendations will include the sources of justified research.
CHAPTER 2: LITERATURE REVIEW
Success of ASA in India and Bangladesh
According to Arianna Huffington (2017), success is not limited with only money and power but
there are various other factors too which defines success of an organisation such as its goal
accomplishment, society welfare and attaining wisdom. Association of social advancement is an
organisation which operates to provide micro finance facilities to that part of the society which
has low income group or are below the poverty line. Main aim of this association is to provide
employment to maximum individuals of a nation by providing them low interest credit services
so that they can start their own business and can provide employment to other individuals too.
This association even provides credit loans without any guarantee so that every individual can
attain this type of loan. This associations words in various countries of Asia and Africa including
India and Bangladesh (Anku-Tsede, 2014).
According to Sammi Caramela (2018), Micro finance which is also known as micro credit
is a financial service of providing offers, loans, savings and insurance to individuals who can not
afford to acquire credit using conventional methods of finance. This facility promotes business
owners and entrepreneurs to start their business or to develop their business. Association of
social advancement is engaged in providing this type of services. ASA is a non governmental
organisation which works for the welfare of society. This association is non profit and non
political in nature. This is an international association which operates in multiple countries which
the mission of evading unemployment and poverty. It is considered that providing credit for
starting up a new business is more successful than providing credit for job employment as a
business not only creates employment for owners but also for other individuals too.
According to Association of social advancement of India (2018), main aim of this organisation is
to reduce poverty and improve quality of life in India. Mission statement of this association
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states that ASA work to provide benefits to individuals who face economic challenges in an
innovative and sustainable way. This organisation is based on the values of establishing trust
through transparency. This association values innovation, integrity and professionalism. In order
to ascertain that is this organisation is successfully in India or not it is important to determine
various aspects such as satisfaction of their clients, profit making, development of industrial
sector of that nation and many more. In order to identify whether ASA is successfully working in
India it is important to ascertain is they are able to fulfil their objective or not. Primary objective
of ASA India is to improve and strengthen the economic status of poorer section of the society
through facilitating and expanding micro finance products. Secondary investigation is further
conducting in this report to ascertain development of India and its industrial area (BaoQuoc and
Tsai, 2014).
According to ASA India (2018), ASA was awarded as best Indian non profit organisation.
Awards and achievements can provide evidence that this association is successfully operating in
India. In order to provide an accurate and conclusive evidence it is important to research about
this association using secondary data which will be conducted by investigator in data analysis. In
order to provide a reflection about is ASA is successfully working in India or not, awards and
achievements are enough to provide evidence. This organisation is said to be elected for
Executive board of the Round Table for the consecutive three years (Kleynjans and Hudon,
2016).
Association of social advancements operates in various countries and one of them is
Bangladesh. This country is a South Asian nation which is considered to be an under developed
country. Growth of Bangladesh is relatively low than other Asian countries and there is consent
issues of intense poverty, unemployment and other economic problems.
According to Association of social advancements Bangladesh (2018), this association is a top
micro finance institution of this country and provides credit services to thousands of individuals
every year. ASA was established in Bangladesh in the year of 1978 as this country was in
immediate requirement of various schemes which can provide benefit of low interest credit to
their business owners and entrepreneurs. Due to various issues, this organisation has observed to
attain 8 million clients across Bangladesh. By reviewing the mission statement of this
organisation, it has been determined that main objective of this association established in
Bangladesh is to support and strengthen the economy at the bottom of the socio economic
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pyramid by facilitating access to financial services to poor individuals. Association of social
advancements of Bangladesh is based on the values that, use innovation and non conventional
management for achieving cost effectiveness and sustainability. In order to identify whether this
organisation is held successful in Bangladesh or not, it is important to research about annual
reports of the association as well as about the current status of nation. This investigation will be
conducted by the investigator in data analysis to determine accurate and reliable results with
evidence of quantitative data. Achievements of this organisation can also provide an overview
about success of ASA (Kumar and Qazi, 2016). By the accomplishments of this association, it
can be said that this association is successfully working in Bangladesh. In order to provide
evidence to above statements, accomplishments of ASA in their particular nation are, this
association has completed nearly 40 years in Bangladesh which can enough to portray that this
organisation is successfully working there. ASA has acquired 8 million clients across
Bangladesh and most of them are satisfied with the financial services of this association. Besides
providing credit services there are various programs initiated by this organisation such as
Education, agriculture, sanitation, health care and many more. ASA is a self managed association
which is not related with government interferences. By the above accomplishments it can be said
that Association for social advancements is successfully working in Bangladesh.
Success of ASA in Myanmar
According to the Gary M. Woller (2018), Micro finance market is a market place where
services related to micro finance instruments is conducted. Micro finance instruments are
considered as micro credit, micro insurance and other micro schemes which has primary aim of
providing benefit to the society despite of earning profit. Micro finance services are also
provided by various banks and other financial institutions also but association of social
advancements is considered as the best organisation of providing micro finance as this
association is a non profit and non government entity due to which there is negligible
interference of government.
Myanmar is a south Asian country which is considered as World’s one of the least
developed countries. Reasons behind situation of this nation is high population and poverty. In
order to provide micro finance services to individuals of Myanmar, ASA has established 14
branches in this country. This association is working in this country with the objective of
promoting entrepreneurship so that individuals can be self reliant and dose bot need any
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employment opportunities. In order to ascertain that whether ASA is successfully working in
Myanmar or not it is important to ascertain various success aspects such as satisfaction of clients,
development of the country and others. This investigation will be conducted under data analysis
using secondary data of association of social advancements. Success of this organisation can also
be ascertained by the evidence of success stories which are mentioned as follows.
According to Association of social advancement of Myanmar (2018), there are various
success stories which provides relevance to the statement that besides various issues, still this
organisation is working in this country successfully. According to this organisation they have
provided to micro finance services to millions of individual. One of these individuals is Win
Win, a citizen of Myanmar who works a tailor. Win Win is a mother of two kids and is a 45
years old lady who never borrowed money from any bank or any other financial institution as
because of high interest rates. In order to enhance her financial position, she decided to take a
small credit of 100000 and purchased a sewing machine. This decision resultant to be her
decision as her business starts to generate profit of 2500 every week by which she was able to
repay her loan in small period of time and also generated high income from this business.
According to association of social advancement (2018), there is another success story which can
provide evidence to the statement that ASA is working successfully in Myanmar. This
association has provided micro credit to various individuals and one of them which has
successfully attained benefit from these facilities is Khin Thidar Lin. She is a resident of
Myanmar who is engaged in the manufacturing and selling of traditional guitars known as
Muhinga. Manufacturing this type of instrument is considered as an innovative approach of
business due to which even after of micro business holding, she received a credit of 200000 by
which she hired another worker who can manufactures this type of guitars. This decision of Khin
Thidar Lin leads her towards high profitability as her business reached to heights (Kusum
Mukherjee, 2014).
From the above success stories of individuals, it can be said that association of social
advancement is working successfully in Myanmar. By reviewing working of this organisation, it
has been observed that this organisation is more inclined towards providing credit services t that
part of the nation which is not able to acquire credit from conventional ways that is from banks
and other financial institutions. This part of the nation is considered as the women entrepreneurs,
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