The Monetary Board of the Central Bank has granted approval to Sanasa Development Bank for the inclusion of the Subordinated Convertible Term Loan Facilities by Nederlandse Financierings-Maatschappij voor Ontwikkelings Landen (“FMO”) and SBI FMO Emerging Asia Financial Sector Fund Limited (“SBI-FMO”) as Tier II Capital of the Rank and for FMO and SBI-FMO together hold a maximum of 15% of the issued capital carrying voting rights post equity investment and conversion of subordinated convertible term loan facilities.
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