BURO gets laurels from global consultancy for social performance

FE Report
BURO Bangladesh, a leading microfinance institution, has been acclaimed by a global consultancy for its diversified activities geared toward the poor, specially those at the bottom rung of poverty.
The laudatory assessment of the microcredit major comes in the Social Performance Management Report prepared by MicroSave, an international financial inclusion consulting firm.
The BURO has notched up 70 per cent score on the social performance indicators (SPI), edging out global non-profits whose score has averaged 59 per cent.
The report said the leading microfinancier has got 76 per cent score for inclusion of hardcore poor and the needy segment of the society in its programme.
The report heaped praise on the Board of Directors of BURO, saying that its members are from diverse background; hence provide balance to the strategic direction of the organisation.
"BURO has a board which has rich and diverse experience in development and also mainstream sectors. However, social performance is not a specific agenda of discussion in board meetings," the report said.
The MicroSave said BURO has established its excellence in providing need-based and quality services to its clients. The BURO's score in the two sections are 80 and 86 per cent respectively.
About the responsibility to employees, the report said, BURO is a responsible employer and the management believes that staff satisfaction is a key requirement for the organisation to achieve its larger goals.
"Staff satisfaction levels are high--88 per cent respondents are satisfied with the work environment at BURO," said the report.
BURO has scored high on adaptation of services due to a wide range of services such as credit, savings, and remittances, and adaptation of non-financial services to clients' needs.
However, the clients' benefits and environmental responsibility are the two areas where BURO lags behind.   
The micro-lender scores poorly on the benefits of clients due to low client participation at the management and decision making levels, also because social performance is not linked to staff's performance appraisals.
MicroSave said the absence of an environmental policy has put BURO on the sidelines as it scores poorly in the environment indicator.
The report was launched recently in the city at a ceremony chaired and moderated by Executive Director of BURO Zakir Hossain.
MicroSave Senior Analyst Rajarshi Dutta Barua presented the report at the programme.
Executive Vice Chairman of Microcredit Regulatory Authority Khandakar Mazharul Haque, Director (Finance) of BURO Bangladesh Mosharrof Hossain, Director General of Bangladesh Institute of Bank Management (BIBM) Dr Toufic Ahmad Choudhury and Executive Director of Grameen Telecom Trust Parveen Mahmud were present, among others, at the programme.