|NGO-MFIs in Bangladesh|
Message from the Chairman
I am happy to know that the Microcredit Regulatory Authority is going to publish the 5th volume of its regular publication on various information of NGO-MFIs.This will be considered as a valuable document for the microcredit sector of Bangladesh,which provides a comprehensive picture of microcredit operations of Non-government Organizations.
The Authority deserves thanks for publishing this kind of reports on a regular basis. I hope that this publication will benefit the concerened stakeholders and they will provide their valuable suggestions for its further improvement.I also hope that in future the Authority will be able to incorporate more information from different perspectives on the sector that would help policy makers and others to make the financial sector more so that the access to finance by the poor becomes a reality.
Dr. Atiur Rahman
The Microcredit Regulatory Authority (MRA) has passed third year of its operation. According to the mandate specified in the Microcredit Regulatory Authority Act, 2006 the Authority is responsible for monitoring and supervision of the microcredit operations of NGOs (NGO-MFIs). Requirement of license from the Authority is mandatory for all NGO-MFIs in Bangladesh to operate microfinance operation. In the first phase the Authority has invited applications for license from the Institutions those who had operations before the enactment of the Law, and thus received 4240 applications. Till 27 Octo-ber, 2009 MRA has issued licenses in favor of 453 institutions, and could not approve 1722 applica-tions; other applications are under a systematic review.
All licensed NGO-MFIs and applicants whose applications are under-process provide financial and other reports to the Authority in a prescribed format twice a year. This publication is based on the information provided by all licensed NGO-MFIs for the financial year ended 30 June, 2008. Timely collection of reliable information from all institutions still seems to be the main challenge for publishing this kind of reports in time. Cooperation from the sector is very important for this. MRA continuously upgrades its publication on the basis of acquired knowledge, demand of the market and availability of technological support. This report has been arranged in a different manner from the previous reports. It contains a chapter of analytical information of top 20 NGO-MFIs as a test case in addition to general information of all licensed NGO-MFIs. This was possible due to the newly established Database in MRA. MRA plans to publish its future reports with detail analysis. It also plans to maintain a dynamic web content of this information, which will provide up to date information of NGO-MFIs on a regular basis.
We hope that this publication will be considered valuable to all related stakeholders and their valuable comments will provide MRA the future direction. We also expect that the sector will be ben-efited by this kind of nationwide analysis of microfinance operations in Bangladesh. I thank my colleagues in MRA who have put their all efforts to bring out this publication.
Khandakar Muzharul Haque
Published by Microcredit Regulatory Authority (MRA)
11th Floor, NSC Tower
62/3 Purana Paltan
Published on December, 2009
Price: Taka 300.00, US$10.00