Governance Structure


BRAC International is registered as Stichting BRAC International in the Netherlands.


Stichting BRAC International has a constitution under the laws of the Netherlands and was governed by a 10-member board of directors. In line with the rising fiscal requirements and public expectations in the Netherlands, the board decided to adopt a two-tier governance structure, with a management board and a supervisory board.

On 8 December 2016, on its 31st meeting, the Stichting BRAC International governing board adopted the following amendments to the Constitution of Stichting BRAC International which came into effect from 28 December 2016:

The present governing board becomes the supervisory board of Stichting BRAC International.

The supervisory board appointed the management board of Stichting BRAC International comprising 1) Executive Director, BRAC International, 2) Director Finance, BRAC International and 3) a maximum of three BRAC International programme directors.

The composition of the supervisory board of Stichting BRAC International is as follows:

Irene Khan


Sylvia Borren (Member)
Debapriya Bhattacharya (Member)
Parveen Mahmud (Member)
Victoria Sekitoleko (Member)
Marilou van Golstein Brouwers (Member)
Gregory Chen (Member)
Stephen Rasmussen (Member)
Ms Amira Elmissiry (Member)


The Management Board consists of the following members:

Shameran Abed, Executive Director, BRAC International
Ruth Okowa, Director of Africa Region
Syed Abdul Muntakim, Director of Finance
Munmun Salma Chowdhury, Director of Human Resources


BRAC International Holdings BV is a wholly owned subsidiary of Stichting BRAC International and was incorporated in 2010. BRAC International’s microfinance programmes, social enterprises and investment companies are consolidated under this wing. The social programmes currently supporting the enterprises include seed production and training centres.

BRAC International Holdings BV has the role to consolidate the financial results of all country operations in six countries. The consolidated financial statements include the financial data of the stand-alone parent organisation, its group companies and other legal entities over which the foundation has control.

BRAC International Holdings B. V. Supervisory Board Members

Marilou van Golstein Brouwers – Chair
Parveen Mahmud – Director
Gregory Chen – Director

BRAC International Holdings Management Board Members

Shameran Abed, Managing Director, BRAC International Holdings B.V.
Hans Eskes, Managing Director, BRAC International Holdings B.V.
Bridget Dougherty, Director of Operations, BRAC International Holdings B.V.


Composition of the present finance and audit committee is as follows:

Parveen Mahmud FCA, Chair
Syed Abdul Muntakim, Member Secretary
Sylvia Borren, Member
Hans Eskes, Member

The primary function of the finance and audit committee is to assist the governing board in fulfilling its responsibilities on the:

  • Financial reporting and budgeting processes
  • System of internal controls and risk assessment
  • Compliance with legal and regulatory requirements
  • Qualifications, independence, and performance of the external auditors
  • Qualifications, independence, and performance of the internal audit function


Each country entity has a local board. We pursue microfinance and development activities through separate entities in countries where it is required. The local board members are appointed by Stichting BRAC International’s board. The business of the local entities is managed by these local boards. Further details of the roles of the local board are available in the respective incorporation documents of these entities.


In 2015, BI decided to form advisory councils to strengthen governance, support advocacy at the national level and enhance credibility.

The council members, who are country nationals, provide the country leadership with advice and support on standards and policies, and the development and implementation of programmes. They advise on key external developments and trends nationally, and promote BRAC’s mission through effective and strategic working relationships with key stakeholders and civil society partners in the countries. They also support information sharing and relevant advocacy on behalf of BRAC.


The internal audit department conducts periodical audits at all our cost centres on a sample basis. Audits take place at least once a year and twice or more in locations and on programmes where a closer watch is warranted. In addition, special investigations are conducted in case of fraud or irregularities that may be detected. A ‘whistle blower’ policy is in place and HR takes actions as and when required.

External audit of Stichting BRAC International, BRAC International Holdings BV and all of our legal entities are undertaken annually. Financial transparency is ensured by BRAC International’s finance and accounts division, which prepares financial statements following the International Financial Reporting Standards and the laws of relevant countries.

The summary of all audits and investigations are submitted to the audit and finance committee on a half yearly basis.