NGOs demand microcredit regional HQs in Dhaka
Leaders of the Microfinance Institutions (MFIs) and NGOs of Chittagong and Sylhet divisions have called for establishment of a regional headquarters of Microcredit Summit Campaigns in Bangladesh, the pioneer and leader of this sector, as most of the innovations and best practices of microfinance had taken place in the country. With successful implementation of the programme with huge number of MFIs, largest outreach than any other country in the world and the volume of loan, Bangladesh will be the ideal place for establishment of the regional headquarters that will be beneficial for the MFIs of Asian region, they said. They were speaking at the fifth and last regional workshop on 'Global Microcredit Summit 2006: Bangladesh Perspective and Expectations' at the Biam Auditorium in Chittagong on Monday, says a press release. Jointly organised by Plan Bangladesh, Credit and Development Forum (CDF), Federation of NGOs in Bangladesh (FNB) and International Network of Alternative Financial Institutions (INAFI) in association with The Daily Star, the workshop was attended by the heads and representatives of about 50 NGOs/MFIs. The participants said that over the years microfinance has become a structured and professional operation and hoped that the Microcredit Regulatory Authority will be supportive of the NGOs by creating an enabling environment. Expressing satisfaction that the Banking sector is showing increasing interest in MFI, the speakers reiterated that the commercial banks should take the lead as the alternative financial source for the MFIs as there is acute shortage of loan funds in comparison with the demand. They also suggested that the commercial banks should have proper mechanism to ensure revolving fund flow to the NGOs instead of providing terminal loans. They said the NGOs/MFIs could successfully reach and provide financial services to the tribal poor living in the Chittagong Hill Tracts and the programme should be extended to the remote areas. The NGOs should also undertake self analysis and identify their under-achievements with the reasons, they added. Chaired by M Tajul Islam, director of FNB, and moderated by Atiqun Nabi, executive director of INAFI Asia and INAFI Bangladesh, the workshop was also attended by Md Abdul Awal, director (Linkage) of CDF, and Mohammed Tarequl Hoque, specialist of the Family Economic Security programme of Plan Bangladesh. Earlier, the regional workshops were held in Dhaka, Bogra, Jessore, Barisal. The national roundtable on the issue will be held in the third week of this month.
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