United News of Bangladesh

The Microcredit Regulatory Authority (MRA) and International Finance Corporation (IFC) signed a deal for digital transformation in microcredit and enhanced housing loan facilities. Under the program IFC will finance to enhance the capacity of microfinance institutions and the Microcredit Regulatory Authority (MRA) providing short- and medium-term housing loans and digital financial services (DFS) in Bangladesh’s microfinance sector. The MRA and the IFC have signed a project agreement worth approximately US $3.5 lakh, held at MRA headquarters in the capital on Wednesday. Banks' CSR spending declines by 33 %, blame goes to loan scams Prof Mohammad Helal Uddin, Executive Vice Chairman of MRA, and Mehdi Cherkaoui, South Asia Manager (FIG Upstream and Advisory) of IFC, signed the project document titled “Bangladesh Microfinance Sector Development (BMSD)”. Md Saeed Kutub, additional secretary, graced the event as the guest of honour, while Prof Mohammad Helal Uddin presided over the ceremony attended by senior officials from the Ministry of Finance, Bangladesh Bank, CEOs and representatives of microfinance institutions, and officials from both IFC and MRA.

NRBC Bank and OXFAM, Bangladesh will work together for welfare of the marginal people through micro credit, creating cashless village facility and  online marketplace for small entrepreneurs. NRBC Bank and OXFAM signed a memorandum of understanding (MoU) in this regard on Monday. Golam Awlia, Managing Director and CEO of NRBC Bank and Ashish Damle, Country Director, OXFAM, Bangladesh signed the MoU on behalf of their respective sides. Also read: WFP, Oxfam, Green Delta Insurance join hands to protect labourers The objective of the project is to alleviate poverty and injustice and create scope for them up with fourth industrial revelation by ensuring their access to financial and technological ecosystems. Kazi Md. Talha, Additional Managing Director, Kabir Ahmed, DMD, Harunur Rashid, CFO, Kazi Safayet Kabir, Head of FI, Mohammad Soeb Iftekhar, head of economic inclusion & Justice, Sonia Tahera Kabir, business development manager of OXFAM, Bangladesh were among others, present at the function. Also read: ACC signs MoU with Oxfam to strengthen anti-graft activities

Grameen Yemen has started microcredit and social business in Yemen disbursing its first micro loans recently.