There will be a separate bank called Microcredit: Chief Advisor

A separate bank called Microcredit will have to be set up, said Chief Advisor to the interim government Dr. Muhammad Yunus.

He said this after inaugurating the Microcredit Regulatory Authority building in Agargaon in the capital at around 11:30 am on Saturday (May 17).

The Chief Advisor said, ‘A separate bank called Microcredit will have to be set up. For this, a new banking law needs to be made.’

Dr. Yunus also said, ‘Microcredit bank will be a social business bank, it will not be a commercial bank. The owner will not be able to earn profit from it.’

Stating that the Microcredit bank will provide loans to people to become entrepreneurs, the Chief Advisor said, ‘Only people are entrepreneurs, everyone will be entrepreneurs. This will reduce unemployment, no one will look for jobs anymore.’