Microcredit Regulatory Authority

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About Us
Vision & Mission
Vision
The Microcredit Regulatory Authority (MRA) will create a conducive and healthy environment for microfinance sector in the country which will ultimately foster sustainable development of the country.

 
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MRA's Responsibilities
According to the Act, the MRA will be responsible for the three primary functions that will need to be carried out, namely:
  1. Licensing of MFIs with explicit legal powers;
  2. Supervision of MFIs to ensure they continue to comply with the licensing requirements; and
  3. Enforcement of sanctions in the event of any MFI failing to meet the licensing and ongoing supervisory requirements.
 
History of Microcredit Regulatory Authority (MRA)

Background

In December 1997 the Bangladesh Bank commissioned a study to examine "the Regulatory Aspects of Microfinance Institutions (MFIs) and Linking it with the Formal Financial Sector". The study was completed in 1998 and the major findings and recommendations were as follows;
  1. The regulation available in the form of statutory requirement under the existing banking and financial laws will not cater to the special needs of this sector,
  2. Legal recognition of MFIs through enactment of law is required to access formal sources of funds, so that they can operate under an agreed "Code of norms/ Conducts" under the form of a special licensing arrangements,
  3. Self-regulation based on agreed "Code of norms/ Conducts" can be an alternative or may supplement the existing or new government regulation, which may be introduced
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