Microfinance institutions provide aid in flood-affected areas
Microfinance institutions suspend loan instalment collection in affected areas
Microfinance institutions across the country have come forward to support the people in flood-affected areas by offering relief and financial aid.
In line with the directives from the government's Microcredit Regulatory Authority (MRA), microfinance institutions have already begun distributing essential items, including emergency food and medicine, in coordination with local authorities, reads a press release.
Additionally, the collection of loan instalments from all members in flood-hit areas has been suspended.
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The Credit and Development Forum (CDF), the national networking organisation for the microfinance industry in the country, is committed to providing assistance for relief operations and post-flood rehabilitation work in close collaboration with the government.
CDF has noted that certain groups have spread false propaganda on social media, claiming that microfinance institutions are collecting loan instalments from flood victims.
The organisation has expressed concern over these "baseless, misleading, and deliberately malicious" claims. In reality, CDF member institutions are doing their utmost to support their members and the affected communities in the flood-hit areas, the press statement reads.
Simultaneously, communication is being maintained with clients, and initiatives have been taken to return their savings as needed.
In this challenging situation for the country, any form of false propaganda, rumours, or intentional dissemination of misinformation could severely disrupt rescue operations, relief distribution, and post-flood rehabilitation efforts -- outcomes that are highly undesirable.
CDF urged everyone to refrain from engaging in such negative activities.
On Saturday, representatives of Non-Governmental Organisations (NGOs) and community organisations met with the Chief Adviser of the Interim Government Dr Muhammad Yunus.
During the meeting, the chief adviser urged all NGOs to work together to address the severe flood situation affecting 11 districts in the northeastern and southeastern regions of the country. CDF member institutions are fully committed to achieving that goal.
