Development, Economy of Bangladesh

A recent survey by the Wall Street Journal has revealed that Bangladesh holds a more balanced economy than any other country in the South Asia. Wall Street Journal proclaimed Bangladesh as a role model for the SAARC region. According to the report of the Wall Street Journal, the microfinance institutions of Bangladesh are of top class, and they have helped to cut down the poverty rate of our country in half in the last 20 years. But there are a lot of MFIs out there who are not registered by the Microcredit Regulatory Authority (MRA). These fake microfinance institutes are scamming people out of their money. The governor of Bangladesh Bank has asked the MRA to publicize their licensed MFIs so that people would know which institutes are legitimate and which ones are not. The governor of Bangladesh Bank has also requested the economics experts not to cause mass panic by predicting a surge in the inflation rate. The government officials are hoping that the current inflation rate of 9.15% will soon come down. It is the matter of pride for our country that Bangladesh has the most balanced economy in the SAARC region. Our government should be more considerate towards establishing more microfinance institutes to help the poor community of the country. Fake MFIs has to be identified and punished immediately as well.