Microcredit programmes have played a significant role in reducing poverty in the country through financial inclusion and social development, said Finance Minister A H M Mustafa Kamal on Thursday.
These poor people-centric programmes have also branded Bangladesh positively to the world over the years, he opined.
The minister said these as the chief guest at a programme to lay foundation stone of the permanent office building of the Microcredit Regulatory Authority (MRA) in the city's Agargaon area.
Presided over by MRA Executive Vice Chairman Md Fashiullah, the programme was also addressed by Financial Institutions Division (FID) Secretary Sheikh Mohammad Salim Ullah, Public Works Department (PWD) Chief Engineer Mohammad Shamim Akhter, and MRA Executive Director Laxman Chandra Debnath.
Referring to the MRA activities, Mr Kamal said the MRA has been working devoutly to bring transparency in microcredit programmes throughout the country.
He hoped that the MRA's proposed building in the capital's Agargaon area would be completed within the stipulated time.
Besides, the minister urged the MRA officials to maintain good relations with all its stakeholders, so that their work can be smoothly done.
Mr Fashiullah said despite some initial setbacks during the pandemic, the MRA continued its efforts to reach people with microfinance through different partner organisations.
He said over Tk 1.6 trillion is transacted in the microfinance sector every year, while people and organisations in the industry have over Tk 400-500 billion in deposits.
The MRA's proposed 16-storey office building will be constructed on a 10-katha land in Agargaon administrative area. The budget of the building construction and furnishing is Tk 582.35 million.
The construction project was approved in November 2016 by the government, while the building design was developed by the Department of Architecture, and it will be constructed by the PWD.
Tender for the project was called in October 2021, while the work order was given in December 2021. The building is projected to be completed within 18 months of the work order date.
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