2024-07-27 11:22:59
While the state-owned banks are lagging behind in debt recovery, non-governmental organizations (NGOs) are ahead in debt recovery. 95 percent of their disbursed loans have been recovered. Besides, the loan disbursement rate of these organizations has also increased. A report of the Ministry of Finance has revealed such a picture.
According to sources, the Microcredit Regulatory Authority (MRA) was established in 2006 to ensure transparency and accountability in the activities of microcredit disbursing institutions. A total of 892 institutions have been given credit operation certificates since its establishment till February this year. On the other hand, the charters of 155 institutions have been canceled till the same time due to allegations of various irregularities. In this situation, currently 737 institutions are conducting small loan distribution activities in the country. The number of beneficiaries or borrowers from these institutions is more than four crore and 90 percent of them are women.
According to the statistics of the finance department of the Ministry of Finance, in the last year 2023, 7 big NGOs of the country have distributed loans of Tk 130 thousand 133 crores. Not only in terms of loan disbursement, their loan collection rate is also at an enviable level. Organizations have a debt collection rate of more than 95 percent. At this time they have collected 1 lakh 24 thousand 24 crores from the borrowers.
According to Finance Department sources, these 7 major NGOs disbursing cash loans are BRAC, Asha, Bureau Bangladesh, TMSS, Shakti Foundation, Prashika and Caritas.
Out of this, in the last calendar year of 2023 (from January to December), BRAC disbursed a total of Tk 68,621 crores of loans. On the contrary, in the same year, 64 thousand 132 crores 45 lakhs of debt was collected. In the year under discussion, the total number of beneficiaries or borrowers, including men and women, is 88 lakh 8 thousand 339 people.
At the same time Asha disbursed total loans of 31 thousand 665 crore four lakh taka. In the year under discussion, the total number of beneficiaries or borrowers including men and women is 70 lakh 97 thousand 731 people.
Bureau Bangladesh disbursed a total loan of 11 thousand 320 crore 88 lakh taka. Against this, 9 thousand 379 crore 85 lakh taka has been collected. At this time, the total number of beneficiaries or borrowers, including men and women, is 25 lakh 33 thousand 769 people. In the same year, TMSS disbursed total loans of Tk 8,857,400,000. Against this, 8 thousand 96 crore 3 lakh taka has been collected. The total number of beneficiaries or borrowers, including men and women, is 14 lakh 48 thousand 571 people.
In 2023, Shakti Foundation disbursed total loans of Tk 3 thousand 835 crore 84 lakhs. Against this, 3 thousand 402 crore 50 lakh taka has been collected. The total number of beneficiaries or borrowers in the year under discussion is 4 lakh 42 thousand 103 people.
In the same year, Prashika disbursed a total loan of Tk 2,278,790,000. Against this, 2 thousand 162 crores 68 lakhs have been collected. The total number of beneficiaries or borrowers in the year under discussion is 5 lakh 77 thousand 407.
Caritas disbursed total loans of Tk 939 crore 17 lakh. Against this, 880 crores and 13 lakhs have been collected. In the year under discussion, the total number of beneficiaries or borrowers, including men and women, is 11 thousand 536.
There is also much criticism of the success of NGOs in debt collection. There are allegations that some NGOs resort to coercion to collect loans. At the same time, their loan interest rates are also very high. In some cases it is up to 27 percent.