MRA asks microlenders to tap green refinancing

The microcredit regulator has asked the country's microfinance institutions (MFIs) to utilise the Bangladesh Bank's Tk 2.0 billion refinance scheme established to promote financial inclusion.
The Microcredit Regulatory Authority (MRA) has recently issued a circular asking the MFIs to contact with Green Banking and CSR Department of the central bank to access the loan.
The Bangladesh Bank last month asked all the banks to take necessary steps to expedite the opening of Tk-10 bank accounts for grassroots people as part of its financial inclusion policy.
In a circular issued by its Green Banking and CSR Department, the central bank said it is mandatory for the grassroots people to have the Tk 10 account as pre-requisite to availing themselves of low-interest loan from the Bangladesh Bank's revolving refinance fund.
The people, who are out-of-the-bank-network, may use the facilities under the scheme by taking out loan from MFIs, officials said.
The Bangladesh Bank has introduced this type of account system to include farmers, underprivileged people, victims of natural disasters and low-income people in the banking process.
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