M.R.A of Ministry of Finance, Bank & Financial Institution Division

MRA officials attended the 2016 AFI Global Policy Forum in Fiji. MRA officials attended the 2016 AFI Global Policy Forum in fiji


A eight members team of MRA official headed by the Executive Vice-Chairman of MRA Mr. Amalendu Mukherjee participated the 2016 GPF of Alliance for Financial Inclusion( AFI) and actively participated in its five working groups as well as in the global policy storming sessions. The 2016 GPF was co-hosted by the Reserve Bank of Fiji (RBF) and held in Nadi, Fiji on 7-9 September’2016 under the theme “Building the Pillars of Sustainable Inclusion”. As a founding member of AFI, MRA has been sharing knowledge and experience regarding various components of financial inclusion and consumer protection likely Digital Financial Services, Financial Inclusion Strategy, Financial Inclusion Data, Consumer Empowerment & Market Conduct and SME Financing. This year the forum emphasized on financial inclusion for getting the best policies and practices giving the priority on digital financing.
More than 100 member institutions representing over 90 nations have contributed their wit skill and experienced best knowledge to increase the global financial inclusion targeting the unbanked people with weapon of financial literacy to deter gender discrimination and fueling women empowerment. As the members are mainly regulators a strong pillar of financial literacy is going to grow on the foundation of financial inclusion strategy of the member

MRA has arranged a two-day long regional training program for MFIs on “Microcredit Operation and Management” at Noakhali Rural Action Society (N-RAS), Maizdi court, Noakhali, on August 23-24, 2016. Executive Vice-Chairman of MRA Mr. Amalendu Mukherjee was the Chief Guest of this training program. High officials and resource persons of MRA shared their views on different issues like Rules, Regulations Budgeting, Risk management, Internal Audit, Office Management of MFIs, Citizen Charter, etc. 70 participants from 58 different MFIs working in Noakhali, Laxmipur, Feni and Chandpur district attended to this program.

MRA organized a special program and “milad mahfil” to recall the 15th August, the national mourning day with great homage at the Conference room of the Authority. Mr. Amalendu Mukherjee, the Executive Vice-Chairman of MRA presided over the program. All employees of the authority were present and recalled this tragic day with due respects. Many of them gave speeches and mentioned this tragic day as the darkest day in the history of Bangladesh. The EVC of MRA stated that we all are ashamed of the brutal killing of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman together with almost all of his family members and now our duty is to serve with great sincerity and integrity to make the real golden Bangladesh which he dreamed. Mr. Md. Shazzad Hossoin, the director of the authority moderated the program

The ‘International Civil Service Day’ Celebration by MRA

MRA celebrates the International Civil Service Day on June 23, 2016

The ‘International Civil Service Day’ has been celebrated by Microcredit Regulatory Authority organizing a special program presided over by Mr. Amalendu Mukherjee, the Executive Vice-Chairman of MRA at Conference room of the authority. This program has made the special scope to highlight the contribution of MRA as the regulator of microfinance sector in the socio-economic development of Bangladesh. All employees of the authority were present in this program. Mr. Md. Mosharraf Hossain Khan, Mr. Md. Ali Noor and Mr. Md. Shazzad Hossoin, the directors of the authority gave their valuable speeches. Our honorable EVC and all the speakers participated in sharing their ideas regarding the value and virtue of public service to the community and congratulated the employees of the authority to pursue their integrity, skills and experience to regulate and facilitate this booming microfinance sector. A power point presentation displaying the services of the authority was presented in this program. In this program MRA also awarded Mr. Polash Chandra Dash, Office Assistant Cum Computer Typist as best performer for outstanding performance in his service.

The ‘International Civil Service Day’ Celebration by MRA

MRA celebrates the International Civil Service Day on June 23, 2016

The ‘International Civil Service Day’ has been celebrated by Microcredit Regulatory Authority organizing a special program presided over by Mr. Amalendu Mukherjee, the Executive Vice-Chairman of MRA at Conference room of the authority. This program has made the special scope to highlight the contribution of MRA as the regulator of microfinance sector in the socio-economic development of Bangladesh. All employees of the authority were present in this program. Mr. Md. Mosharraf Hossain Khan, Mr. Md. Ali Noor and Mr. Md. Shazzad Hossoin, the directors of the authority gave their valuable speeches. Our honorable EVC and all the speakers participated in sharing their ideas regarding the value and virtue of public service to the community and congratulated the employees of the authority to pursue their integrity, skills and experience to regulate and facilitate this booming microfinance sector. A power point presentation displaying the services of the authority was presented in this program. In this program MRA also awarded Mr. Polash Chandra Dash, Office Assistant Cum Computer Typist as best performer for outstanding performance in his service.

Responsibility of MRA
According to the Act, the MRA will be responsible for the three primary functions that will need to be carried out, namely:

Licensing of MFIs with explicit legal powers;
Supervision of MFIs to ensure that they continue to comply with the licensing requirements; and
Enforcement of sanctions in the event of any MFI failing to meet the licensing and ongoing supervisory requirements.

Vision
Microcredit Regulatory Authority will create a conducive and healthy environment in the microfinance sector which will ultimately contribute to eradicate poverty as well as foster sustainable development of the country.

Mission
To uphold the vision and in pursuant with the “Microcredit Regulatory Authority Act 2006”, MRA’s mission is to ensure transparency and accountability of microfinance operations of NGO-MFIs as well as foster sustainable growth of this sector. In order to achieve its mission, MRA has set itself the task to attain the following goals:

To formulate as well as implementing the policies to ensure good governance and transparent financial systems of MFIs.
To conduct in-depth research on critical microfinance issues and provide policy inputs to the government consistent with the national strategy for poverty eradication.
To provide training of NGO-MFIs and linking them with the broader financial market to facilitate sustainable resources and efficient management.
To assist the government to build up an inclusive financial market for economic development of the country.
To identify the priority issues of microfinance sector for policy guidance and dissemination of information to attain the MRA’s social responsibility.

Microcredit Regulatory Authority
The Microcredit Regulatory Authority (MRA) has been established by the Government of the People’s Republic of Bangladesh under the "Microcredit Regulatory Authority Act 2006” to promote and foster sustainable development of microfinance sector through creating an enabling environment for NGO-MFIs in Bangladesh. MRA is the central body to monitor and supervise microfinance operations of NGO-MFIs. License from the Authority is mandatory to operate microfinance operations in Bangladesh as an NGO.