PROSHIKA secures MRA certification
Tuesday, 11 October 2011
Struggling non-government group, PROSHIKA, has obtained certification from the Microcredit Regulatory Authority (MRA) to operate micro credits. Mahbub-ul-Karim, chief executive officer of PROSHIKA, Monday received the certificate from the regulator body. The conflict over the organisation's leadership has thrown it into serious trouble for years and worsened its financial health. Until recently, PROSHIKA was running microcredit operations with an ad-hoc approval from the MRA. In a statement, Proshika said a long-standing problem has been resolved after receiving the certification. It has thanked the MRA authority, government officials and all of its employees for getting the recognition. - FE Report