Call to ensure transparency in micro-credit activities
Speakers at a meeting in Rajshahi yesterday emphasised establishing transparency and accountability in micro-credit activities to ensure development and build a poverty and hunger free Bangladesh.
Microcredit Regulatory Authority (MRA) organised the meeting at Rajshahi Zila Parishad auditorium aiming to expand micro-credit activities in rural areas by establishing coordination between commercial banks and microfinance institutions.
Some 250 bankers from different government and private banks and officials from non-government organisations (NGO) and microfinance institutions from Rajshahi, Natore, Naogaon and Chapainawabganj districts attended the discussion.
Bangladesh Bank Deputy Governor Mohammad Nazrul Huda addressed as the chief guest with MRA Vice Chairman Khondker Majharul Haque in the chair.
Huda asked microfinance institutions to properly follow laws and regulations to ensure discipline in the sector.
“It is high time to bring transparency and accountability in micro-credit activities,” he said, adding that poverty must be reduced through expansion of micro-credit to turn Bangladesh into a middle income country.
He also urged private commercial banks, from their sense of social accountability, to disburse credit through microfinance institutions at low interest rates.
Majharul said many NGOs are helping the government alleviate poverty in rural areas and microfinance institutions should provide banks with necessary information to get risk-free loans.
Speakers called upon NGOs to publish annual reports to ensure transparency and accountability in their activities.
Rajshahi Additional Deputy Commissioner Subol Bose Moni and Rajshahi division Bangladesh Bank General Manager Zinnatul Bakeya spoke as the special guests.
Bankers Ayet Ali, AQM Kibria, Yunus Ali, Nazmus Salehin and NGO officials Alauddin Khan, Rahima Rajib and SK Lalon also spoke.
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