On sixteen July 2006 «Microcredit Regulatory Authority Act, 2006» was enacted which came into power from 27 August 2006. Microcredit Regulatory Authority (MRA) was established beneath this act to bring this sector below a regulatory framework. The truth is, the establishment of MRA is an endeavor of the government to create an enabling setting for sustainable development and growth of the microfinance sector in Bangladesh. Micro Credit in Bangladesh.
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