, Jan. 9 -- The Credit and Development Forum (CDF), a national association and network of microfinance institutions, has said the proposed Microcredit Bank will be a social business, strictly regulated by Bangladesh Bank, with no provision for personal profit.

A thorough reading of the Microcredit Ordinance, 2025 will clarify these points and eliminate any misconceptions, it said.

Respecting the fact that the signatories represent nearly 90% of the country's microfinance sector, the CDF said they wish to clarify that this proposed bank is a much more advanced and unique concept compared to traditional banking.

Since 60% ownership belongs to the poor and there is no scope for profit withdrawal beyond the invested capital, no individual ...