Dhaka, April 8 -- Civil-society organisations (CSOs) on Tuesday demanded scrapping of the proposed the 'Microcredit Bank Ordinance 2025', which was introduced by the interim government to bring microfinance institutions under a banking framework in the name of regulation.

At a press conference, they described the ordinance as a "blueprint to dismantle" the country's microfinance system under the guise of banking reform.

They also questioned the feasibility of the initiative, noting that the central bank already faces significant challenges in managing the country's existing 56 banks.

COAST Foundation, EquityBD and the BDCSO Process jointly organised the press conference titled 'Risks of transforming microcredit into a banking framework...