10 microfinance institutions licenses to Cancel

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10 microfinance institutions licenses to Cancel

B Mirror Desk : The certificates for ten institutions have been revoked by the governing body.

In accordance with the Microcredit Regulatory Authority Act of 2006 and 2010, the certificates granted to the credit institutions identified by the police, which were compliant with the established rules, have been annulled.

Consequently, these institutions are required to return any savings or deposits collected from their customers.

The affected institutions include Jhaaudia Gram Unnayan Sangstha, Gana Unnayan Academy, Rupa, Gana Welfare Foundation, Shishu Kalyan Foundation (NSKF), Rural Youth Welfare Organization, Barist Manobik Unnayan Kendra, Bangladesh Unnayan Alo, Bhaluka Foundation, and Bangla Nari Unnayan Sangstha. The public is encouraged to initiate the Yogdhin program with designated institutions.

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