6th Annual General Meeting of Aatmanirbhar Laghubitta Bittiya Sanstha (ALBS) held

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Jan 13, 2025: Dang Ghorahi:

The 6th Annual General Meeting (AGM) of Aatmanirbhar Laghubitta Bittiya Sanstha (ALBS) was successfully held on January 13, 2025, at the Mala Inn Hotel in Dang Ghorahi-15. 

The event marked another significant chapter in the institution's journey of empowering rural communities and addressing poverty in Nepal.

The AGM was chaired by Meera Chaudhary, with Parbati Basnet serving as the facilitator of the program. The gathering included key figures such as ALBS- CEO Saugat Bir Chaudhary, members of the steering committee, independent committee members, media representatives, public shareholders, and other dignitaries.

Opening and Welcome

The event commenced with a welcome speech by Mina Giri, a member of the steering committee, followed by the formal inauguration by Chairperson Meera Chaudhary.

CEO Saugat Bir Chaudhary presented a detailed report on the organization's progress and achievements. Highlighting ALBS's commitment since its inception in 2076 BS under the mentorship of RWDC, he shared the milestones achieved in improving rural livelihoods.

He acknowledged the challenges faced, including the global COVID-19 pandemic and economic recession, while addressing criticisms and misconceptions about microfinance services

Despite these hurdles, ALBS continues to operate profitably, earning recognition as a leading provincial microfinance institution in Lumbini and being awarded as the highest taxpayer for the third consecutive year.

Keynote Speeches

Sarad Adhikari, representing Rapti Post and a member of the Press Council, emphasized the importance of seminars to educate communities about economic mobilization and highlighted ALBS's positive contributions stressed the need to for trust and transparency in microfinance services.

Public shareholder Engineer Dilliswor Karki lauded ALBS as a "friend of the poor," recognizing its transformative role despite the broader challenges faced by the sector.

Other committee member Ambar Khadka reflected on challenges faced by the microfinance services in the past, however lauded the efforts put in by AlBS staff and management committee.

Recognition and New Appointments

In a gesture of appreciation, the steering committee honored Goma Mahara ( the outgoing independent members including  Sarita Chaudhary with mementos, shawls, and certificates. The AGM also announced the nomination of Anant Basnet as the new independent committee member for the upcoming  four year tenure.

Closing Remarks

Chairperson Meera Chaudhary concluded the meeting with heartfelt gratitude to all stakeholders, including shareholders, committee members, and supporters.

She reaffirmed ALBS's dedication to transforming society through positive change, focusing on empowering marginalized communities and fostering sustainable development.

Take away

The 6th AGM of ALBS celebrated the organization's enduring commitment to social transformation. As challenges persist, ALBS remains steadfast in its vision of uplifting rural communities, ensuring financial inclusion, and fostering societal progress.

After the concluding remarks of the chairperson Meera Chaudhary, the first session was ended and second close session was started where in the CEO Saugat Chaudhary presented the yearly progress and asked for house permission to pass it.

The general assembly house univocally passed all the ALBS related tabled progress reports and paved the way for a open questions and answers from the house.

The assembly member Bhim Kant Chaudhary asked few questions related to the slide presentation of the progress of ALBS, its challenges and asked for future plans to be presented if available.

His questions were responded by CEO Saugat Bir Chaudhary citing that the future plans of AlBs was ready and could be visited at any time.

Then the chairperson of ALBS Meera Chaudhary gave her concluding remarks after which the AGM was closed.