Dhaka, Nov. 7 -- No new licences will be issued to microfinance institutions (MFIs), as the microfinance sector in Bangladesh is now overcrowded, said Dr Mohammad Helal Uddin, Executive Vice Chairman of the Microcredit Regulatory Authority (MRA).

He made the remarks while speaking as the chief guest at an event organised by BRAC at the BRAC Centre in Dhaka on Thursday. The event celebrated BRAC's achievement of becoming the only organisation in Bangladesh to receive the Client Protection Certification (CPC) Gold, a recognition for its commitment to safeguarding clients' interests in financial services.

In his address, Dr. Helal Uddin emphasised the importance of scaling up and localising microcredit operations to sustain the sector at t...