Microcredit Regulatory Authority

Microcredit Regulatory Authority (MRA) is the central body to monitor and supervise microfinance operations of non-governmental organizations of the Republic of Bangladesh.

On September 28, 2012 at the Alliance for Financial Inclusion's Global Policy Forum 2012, the bank made a commitment under the Maya Declaration to promote agent and mobile banking, implement consumer protection initiatives, and establish a credit bureau for the MFI sector.

Despite the fact that more than a thousand institutions are operating microcredit programs, only 10 large Microcredit Institutions (MFIs) and Grameen Bank represent 87% of total savings of the sector (around BD taka 93 billion) and 81% of total outstanding loans of the sector (around BD taka 157.82 billion).

Through the financial services of microcredit, these poor people are engaging themselves in various income generating activities.

Microcredit institutions have been providing various social and financial services to the poor to alleviate poverty within the society for the last three decades.