MFTransparency’s Bangladesh Pricing Seminar Presentation

MicroFinance Transparency led the presentations at the Institute of Microfinance (InM) and the Microcredit Regulatory Authority (MRA) seminar on Transparent Pricing.

MFTransparency’s Chuck Waterfield presented on the importance of transparency in microfinance and the leading role that Bangladesh is poised to play in this initiative.  Waterfield pointed to the inaccurate and inconsistent reporting of the costs of loan products as a main prohibitive factor to transparency in the industry.  He explained the potential for providing accurate pricing to lead to “efficiency, sound management decisions, and healthy consumer choice.” Citing the social mission of microfinance, Waterfield argued that the microfinance industry should spearhead efforts towards transparency in commercial finance as well. As “the country where microfinance was created and has grown so much,” he emphasized the need for Bangladesh to take the lead on this issue.

The event was attended by top regulatory authorities of the Bangladeshi microfinance industry, including finance minister Abul Maal Abdul Muhith.