Microfinance Focus, August 25, 2011: Speaking at the report launching ceremony for ‘State of the Microfinance Sector: Bangladesh 2011’, on Thursday, Governor of Central Bank of Bangladesh Mr. Atiur Rahman said “Performance of the Grameen Bank has not been and will not be left to founder following retirement of its pioneer Nobel Laureate Dr. Yunus”.

The Governor assured that the Government has appointed a search committee and is in the process of appointing a new CEO for Grameen. He further stressed that there is no uncertainty about the future of microfinance despite some sharp reactions in the media and civil society after the removal of Muhammad Yunus.

Mr. Rahman stated that the government remains committed to maintaining a stable macro environment and a regulatory environment which safeguards peoples money while ensuring that micro-finance institutions have the flexibility to develop financial products to suit poor people’s needs.

Highlighting some of the gaps in the financial services currently available, Mr. Rehman said that there is neither enough provision of credit for ‘meso’ type activities which are between micro and small enterprises nor savings options for poor households who are not members of MFIs.

He invited regulators, program managers, development partners and the private sector to develop insurance products for the poor, particularly health insurance and crop insurance.

The ceremony was organized by BRAC Development (BDI) at BRAC Centre Auditorium