BKF microfinance program plays a very important role in the field of poverty alleviation. Micro-finance was the area where the changes had the greatest impact. It was noted in the review that the poor results of the credit recovery
component I of the micro-finance programme had been having a demoralizing effect on the whole BKF programme, undermining social development efforts. The BKF microfinance program is divided into two main components: 6- – micro savings and micro credit, which allows clients an earning capacity while learning to save for the future. BKF continues to reach its goal of strengthening and empowering the poor women of the operational area of BKF
through these programs Micro-savings. BKF encourages its group members to generate savings in order to reduce their dependency on others Group Savings develops a financial base of the group and they can utilize their savings in income earning schemes By the way group savings helped them to establish their economical rights and play active role in family decision-making process.
” Creating sense of personality.
” Strengthening self position.
” Making the people active.
” Creating savings habit.
” Reducing dependency on others.
“Avoiding traditional thought.
” Making financially self-reliant.
” Raise the feelings of consciousness.
The staffs collect the savings and loan installments in the group by posting the pass book. Before departure of the group meeting premises, the staffs review the account and take signature of the group leaders and mention the presence and absence number of the group members in the resolution. The Accountant receives the amount from the credit worker before 2-0 P.M. and checks the collection sheet and the top sheet. Occasionally the
Manager/Assistant Manager sheet and give entry in the receivable register properly. The Accountant collects the money e -t” from the Field Organizer and deposits it in the Bank account before 3-0 P.M. and no amount re
mains available to the Accountant. Later on the staffs update the ledger as per collection sheet. At the week end the staffs prepare the weekly report comparing collection sheet, amount of loan disbursed, amount of loan collected, new members, excluded members and the Branch Manager compile the report to send to the P.K.S.F. authority within the first week of next month.
Types Of Micro Finance Program
The services of this product are providing through 32 branches and the borrowers are allowed to use the loan mainly for income generating activities (IGAs) like. Agriculture, livestock realigning small business, local transport vehicle operating etc.
The entrepreneurs who are running business and making gross profit but are in need of more capital or have shortage of capital can get larger loans under this package for their enterprise development.
Through there is huge potentials in investment is made in this sector. Bandhu Kallyan Foundation is working in this sector to provide the facility for the farmers by giving them credit support according their need and provision of repayment after the harvest. In the traditional microfinance the borrowers have to start their loan installment after investing the money regardless of getting return from there. This creates immense pressure on that enterprise and even makes loss. The newly introduced onetime installment system has reduced this extra pressure and thus gives a new dimension of BKF microfinance service.
This is a special service for the Buniad who are getting flexible credit support through 16 branches.
ENRICH Loan Program
This is a special Credit service under the ENRICH Program. There are three types of special credit service implemented by the Nehalpur union.
- Income activities loan (IGAL).
- Livelihood improvement loan (LIL)
- Asset Creation (ACL)
All The three credit Services can be accessed simultaneously by a household. Under IGAL Eligible house hold
members can take loan for more than one activity and for exception of an activities with their income. In this context, economic activities with potential for productivity growth are selected. Training for skill development and upgrading, marketing assistance and other necessary services are now routinely provided
Informations for Microfinance
Donor: Pallikarma Shahayak Foundation (PKSF)
Duration: 1992 – On going
Contact Person: Md. Asadul Haque (Director of Operation)
To make a sustainable contribution to the long term Poverty Alleviation, Women Empowerment, and Job creation by providing micro credit support of the rural poor people.
1. Introduce appropriate, easy & suitable credit system according to the need of the farmers.
2. Introduce profitable & sustainable agricultural production system to increase the purchasing ability by increasing real income of the farmers.
3. Introduce alternative crops cultivation to low-income farmers.
4. Introduce & supply new resources according to the capacity of the farmers & small entrepreneurs to raise additional income.
5. Encourage the farmers to use various skills like beef fattening, Milky cow rearing, fish culture, goat & other cattle rearing.
6. Arrange regular awareness program to motivate & boost the farmers for livestock & various crops cultivation.
7. Collaborate with national & international development agencies to acquire high technical knowledge of production & new crops cultivation.
8. Initiate, undertake & arrange training program for the farmers to acquire modern agriculture knowledge.
Jessore, Khulna, Sathkhira, Narail, Jhinaidah, Chuadanga
Upazila: 29, Union/Words: 223, Village: 981
No. of Employees: 247
No. of Beneficiaries: 46897
No. of Borrower: 35317
Savings: Tk. 17.85 Cr