Dhaka, May 17 -- Chief Adviser Professor Muhammad Yunus on Saturday stressed the need for establishing a dedicated 'Microcredit Bank' to enable microcredit to play a more significant role within the formal banking system, moving beyond its current NGO-style framework.

"We have to think about something new - establishment of Microcredit Bank - as the success of microcredit reached a new height," he said.

Prof Yunus said microcredit is now seen as an NGO, and to become a full-fledged bank, it is necessary to have a transition from NGO to bank. "Clearly, it will have to be a bank, and we need a separate banking law," he said.

Prof Yunus said currently a microcredit organisation can collect deposits from its members only and this needs to ...