BFP-B holds virtual Closing Event on Microfinance Credit Information Bureau
The objective of MF-CIB is to collect the credit related information of the microfinance sector and manage and utilise them to provide credit related services
Business Finance for the Poor in Bangladesh (BFP-B) programme organized a virtual closing event today at 11 am to understand and discuss the opportunities that the Microfinance Credit Information Bureau (MF-CIB) brings.
The event was funded by the Foreign, Commonwealth and Development Office of the UK Government.
Md. Ashadul Islam, senior secretary of Financial Institutions Division, Ministry of Finance, was the Chief Guest while Afsana Islam, deputy team leader of FCDO, Kazi Sayedur Rahman, deputy governor of Bangladesh Bank were special guests on the occasion.
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International Expert of MF-CIB Jim Aziz, Head of Global Practices of Nathan Associates Buddhika Samarasinghe, Former Governor of Bangladesh Bank Dr. Atiur Rahman and Additional Secretary of Financial Institutions Division, Ministry of Finance Arijit Chowdhury also connected to the session.
Ashadul Islam said, "The objective of the Microfinance Credit Information Bureau is to collect the credit related information of the microfinance sector and manage and utilise them to provide credit related services. The availability of proper information about loan borrowers and their credit history is crucial to the success of MF CIB".
MRA Executive Vice Chairman Md. Fashiullah mentioned, "By analyzing and using the credit information from MF-CIB and subsequently developing the microfinance sector, we will take forward the Prime Minister's vision of poverty and a hunger free, developed Bangladesh and the Father of the Nation's dream of a prosperous Golden Bengal."
Dr. Atiur Rahman stated, "Data is the strength and biggest capital of the economy and Data Management is the key to implementing artificial intelligence in Bangladesh. Microfinance can play an inclusive role in the dream we see to exit the pandemic crisis".
Afsana Islam said, "Information asymmetry has always been a problem in the microfinance sector. With the help of UK aid, we hope The Microfinance credit information bureau will bring a huge change to small borrowers in Bangladesh."
