Chief Adviser Dr Muhammad Yunus emphasized on establishing a dedicated ‘Microcredit Bank’ to ensure more marginalized people having access to formal banking system. The Chief Adviser made this remark while inaugurating the “Microcredit Regulatory Authority” building in the city’s Agargaon area.
Finance Adviser Salehuddin Ahmed, Chief Adviser’s Special Assistant Anisuzzaman Chowdhury, Bangladesh Bank Governor Ahsan H Mansur and Microcredit Regulatory Authority Executive Vice Chairman Mohammed Helal Uddin, among others, were present in the event.
Yunus said microcredit is now seen as an NGO, and to become a full-fledged bank, it is necessary to have a transition from NGO to bank. “Clearly, it needs to be a bank, and a separate banking law,” he said.
He said currently a microcredit organisation can collect deposits from its members only and this needs to be expanded.
“It’s the appropriate time to talk about the issue,” he said, adding that the banks, which were considered as the real banks have disappeared today with looting of public money, but the microcredit exists with a transparent base.