Microcredit institutions can now operate on a limited scale
Within this limited operation, microfinance institutions can distribute relief, back deposit, provide loan from the stimulus package of Tk3,000 crore following proper safety measures
The Microcredit Regulatory Authority (MRA) has instructed microfinance institutions to operate on a limited scale.
Within this limited operation, microfinance institutions can distribute relief, back deposit, provide loan from the stimulus package of Tk3,000 crore following proper safety measures.
The Microcredit Regulatory Authority issued a circular in this regard on Saturday.
"This season is very important for the farmers as it is the time for harvesting and also time for planting news crops. So they need finance. Microcredit institutions can operate this time on a limited scale following safety measures as guided by the government," Director of MRA Mohammad Yakub Hossaintold The Business Standard.
Microcredit institutions can provide non-farm credit to support small businesses for gear up the rural economy, the circular says.
To curb the spread of Covid-19, microcredit institutions have been suggested to avoid yard meetings and to prefer digital platforms for making transactions.
