Partnership to strengthen regulatory environment and enable MFIs to mobilise resources to increase access to finance of Microenterprises.
A Memorandum of Understanding (MoU) was signed between Credit Development Forum (CDF) and Business Finance for the Poor in Bangladesh (BFP-B) Project funded by the UKaid/DFID on October 22, 2017 in BFP-B project office. The purpose of the MoU is aimed to do policy advocacy by strengthening regulatory environment and enable Microfinance Institutions (MFIs) to mobilise resources to increase access to finance of Microenterprises. Based on policy recommendations from BFP-B study on “Diagnostics of Microenterprise Lending by MFIs in Bangladesh: Opportunities and Challenges” some policy recommendations will be prioritised through series of consultations with MFIs and regulators as part of this partnership. Mr. Feisal Hussain, Team Leader, Business Finance for the Poor in Bangladesh (BFP-B) Project and Mr. Md. Abdul Awal, Executive Director, Credit Development Forum (CDF) signed the MoU.
UKaid, through DFID and their programme Business Finance for the Poor in Bangladesh (BFP-B), supports the partnership activities aiming to mobilise resources for MFIs and increase access to finance of Microenterprises through enabling regulatory environment.
About Credit Development Forum (CDF)
Credit Development Forum (CDF) is a national Microfinance network in Bangladesh established in 1992 and since then has been contributing to the institutional & knowledge based capacity building of MFIs, sectoral research, networking, advocacy & lobbying, information disseminations, financial sector linkages and organizing experience sharing events at home and abroad on microfinance. Overtime, CDF has worked to reform a number of policies including developing Microcredit Regulatory Act 2006 and Microcredit Regulatory Authority (MRA) Rules 2010. CDF was a member of the technical committee of drafting Microcredit Regulatory Act 2006 and also developing MRA Rules 2010. It has evolved to become a credible voice in the microfinance sector with a close relationship with number of MFIs, Bangladesh Bank and Ministry of Finance.