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Decision to build mechanism non-government Micro Financing institutions |
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News |
May 29, 2000 Dhaka,
May 28 (UNB)- A high level meeting today decided to build a mechanism of
monitoring financial activities of the non-government Micro Financing
institutions (NGO-MFIs). “There
should be a system to monitor the financial activities for the NGO-MFIs
which collect deposits from the people,” said a press release after the
meeting. Chaired
by Finance Minister Shah AMS Kibria at his office, the meeting also
decided to form a Micro Finance Research and Reference Unit in the central
bank. The
government move comes after reports of deceiving the depositors by certain
syndicates. “The
government should have a role to play to protect the interest of the
people as their money are taken as deposit,” Kibria was quoted to have
told the meeting. He
said the mechanism would help run the activities of NGO-MFIs in a
disciplined manner. Bangladesh Bank governor Dr Mohammad Farashuddin, finance secretary Dr Akbar Ali Khan, BRAC executive director Fazle Hasan Abed, ADAB chairperson Khushi Kabir, PKSF director general Dr Saleh Uddin Ahmed, NGO Affairs Bureau director general Abu Taleb and officials concerned were present.
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