The NGO Secretariat has sent out a circular to relevant NGOs calling for data, which is to be sent in by July 29, a statement from the Prime Minister’s office said today.
The statement said the status of the prudential regulation of micro finance institutions operating in the micro finance and micro credit sectors was reviewed at a recent meeting.
The Central Bank would convey the directions on prudential regulation methodology to the NGO Secretariat by August 30
“Strengthening of the human resources of the NGO Secretariat for this purpose has been initiated and a training programme for the staff has been designed. While the Micro Finance Act gives a grace period to NGO’s to obtain a license, it was decided to accelerate the process and issue licenses well before the grace period lapses. The NGO Secretariat will convene a meeting with NGOs involved in micro finance and micro credit to brief them and exchange views on this subject,” the statement states.