Status of the prudential regulation of MFI’s reviewed

November 18, 2024

President - Parliament - Prime Minister

Status of the prudential regulation of MFI’s reviewed ^Featured

July 26, 2016

Status of the prudential regulation of Micro Finance Institutions (MFI’s) operating in the micro finance and micro credit sectors was reviewed recently at a meeting held at the National Operations Room (NOR) of CCEM.

According to a press release issued by the Prime Minister’s Office, the NGO Secretariat has sent out a circular calling for data from all relevant NGO’s, which is returnable on 29th July.

The release further said that strengthening of the human resources of the NGO Secretariat for this purpose had been initiated and a training program for the staff had been designed. While the MF Act gives a grace period for NGO’s to obtain a license, it has been decided to accelerate the process and issue licenses well before the grace period lapses.

The NGO Secretariat will convene a meeting with NGO involved in micro finance and micro credit to brief them and exchange views on this subject.