MRA holds public hearing on microcredit, information rights in Cox's Bazar

The Microcredit Regulatory Authority (MRA) today (12 April) held a public hearing and awareness meeting on the right to information in Ramu, Cox's Bazar.

The event brought borrowers face-to-face with regulators and NGO officials to raise concerns over microcredit services.

Held at the YPSA-HRDC auditorium, the programme was organised with support from Young Power in Social Action (YPSA) and Coast Foundation. Around 60 borrowers from the two organisations took part.

MRA Executive Vice Chairman Professor Dr Mohammad Helal Uddin attended as the chief guest. The session was moderated by MRA Director Mohammad Shahidul Islam.

Participants shared experiences and raised concerns over high service charges and limited access to safe drinking water in saline-prone areas.

They also called for grants for affected members and grace periods for agricultural loans.

Coast Foundation Executive Director M Rezaul Karim Chowdhury said the organisation plans to provide skills training in 12 trades. The aim is to help young people tap into tourism-driven employment in Cox's Bazar.

He added that Coast and YPSA will work with the government to address the region's water crisis.

YPSA Founder and Chief Executive Dr Mohammad Arifur Rahman said the organisation provides loans from its own funds as well as financing from PKSF.

He said the presence of top MRA officials at the field level would help better understand client realities.

Responding to queries, Helal Uddin said the authority will take steps to rationalise service charges and consider increasing returns on savings.

He also stressed inclusive financing for elderly people and persons with disabilities and expanding client welfare benefits.

He urged borrowers to use loans in income-generating activities to improve their economic conditions.