Dear Sir
In today's global economy, poverty is not just a social challenge but a strategic failure. Bangladesh, long plagued by poverty, is now witnessing a shift through inclusive economic growth driven by microcredit. Microcredit Banks and the Microcredit Regulatory Law offer a new path forward by institutionalizing this transformation.
These banks will not only provide collateral-free loans but also offer savings, disaster insurance, and digital services to rural communities. Such services empower individuals to run poultry farms, sew clothes, and cultivate crops turning borrowers into entrepreneurs. The regulatory law ensures transparency, controls interest rates, and protects borrowers from exploitation.
By integrating modern technology and financial tools into rural life, Bangladesh can reduce poverty, create jobs, and promote economic inclusion. However, financial literacy and safeguards against over-indebtedness are vital. Public-private cooperation, flexible loan terms, and digital training will be key to sustainable success.
Bangladesh's experience offers a model for developing countries worldwide. Microcredit is not just financial aid-it is a philosophy of dignity and opportunity. With strong policy, enforcement, and human-centered implementation, microcredit can lead us toward inclusive, sustainable development.
Progga Das
Student, Department of Economics
Eden Mohila College
