Dhaka, May 17 -- Chief Advisor Muhammad Yunus has called for the establishment of a "microcredit bank" to support young entrepreneurs by providing them with collateral-free small loans.

Speaking at the inauguration of the Microcredit Regulatory Authority's (MRA) new building in Dhaka's Agargaon on Saturday, Yunus said the proposed bank would operate differently from traditional financial institutions, state news agency Bangladesh Sangbad Sangstha (BSS) reports.

"This bank will not be like the conventional ones. The bank will run based on trust and confidence, where collateral is not required to take out a loan.

"Alongside this, a prime target of this bank will be to popularise social business."

Yunus emphasised the need for laws to es...