Annual Performance Agreement signed between Microcredit Regulatory Authority and microcredit institutions for fiscal year 2023-2024

The signing of the annual performance agreement between the Microcredit Regulatory Authority and microcredit institution was held as per the Government of Bangladesh on 21 June.

From 2014-2015 fiscal year, the cabinet division introduced result-based performance management with the aim of increasing efficiency and responsibility in government activities, bringing mobility, improving service quality and increasing the efficiency of the organisation. In line with this, the top 10 accredited microfinance institutions [BRAC, Asha, Buro Bangladesh, TMSS, Society for Social Service (SSS), JagaJagaranranio Chakra Foundation, Padakhep Manabik Unnayan Kendra United Development Initiative for Programmed Actions (Uddipan), Sajeda Foundation and Palli Mongal Karmosuchi (PMK) signed the Authority Annual Performance Agreement.

The agreement was signed by the Executive Vice Chairman Md Fasiullah on behalf of the Authority and the respective chief executives on behalf of the microcredit institutions. Senior officials of the authority and microcredit institutions were present at the signing ceremony.

As a result of the signing of this agreement, henceforth the institutions will provide information to the authority on a quarterly basis as per their targets on key indicators.