Holiday Post: The microfinance environment in Bangladesh is characterized by a robust network of institutions aimed at providing financial services to the underserved, particularly women and rural populations. Micro Finance Institutes provide credit facility to the rural borrowers at their doorstep within a very short time and other necessary formalities, said chief executive of Moazzem Hossain, Gram Bikash Kendra, in an interview with weekly holiday post. He started his carrier from social work for the betterment of community people. He formed Gram Bikash Kendra-GBK In 1993. ‘A diverse society with equality, responsiveness, fairness and human dignity’, as Chief Executive and built good working relationship with different development partner organizations of home and abroad.

 Holiday Post: Are you concerned about stability factor to plan your activities? Why?

Moazzem Hossain: Yes, we are concerned about stability factors when planning our activities. Stability is essential for ensuring that our programs are effective, sustainable and beneficial to the communities we serve. While planning we consider Sustainability of Programs so that through Micro Finance we can keep continue our sustainable programs and continue to serve communities over time without interruptions. We consider potential risks like economic downturns, political instability or social unrest situations. To build trust and credibility we emphasize on building relationships. A stable operating environment fosters trust between the micro finance institution and the community.

Holiday Post: What is the importance of economic development in Bangladesh by your activities? Please describe?

Moazzem Hossain: Economic development in Bangladesh has been significantly impacted by microcredit institutions, playing a crucial role in enterprise development, poverty alleviation and empowerment. Here are some key points highlighting importance like Access to Capital, Poverty Reduction, Empowerment of Women, Job Creation, Financial Literacy, Community Development and Sustainability. Microfinance institutions in Bangladesh are vital for fostering economic development, promoting social equity, and building resilient communities.

Holiday Post: Do you think the Micro-credit policy regime here is good, or need to be improved? In what areas and why?

Moazzem Hossain: The microfinance policy regime in Bangladesh has been instrumental in promoting financial inclusion and supporting small entrepreneurs. However, there are areas where it could be improved to enhance its effectiveness and sustainability. Here are some key areas for potential improvement for Financial Literacy and Education, Targeting Vulnerable Groups, Technology Integration etc.  

Holiday Post: Country develops to need emphasized on micro-economy. What is your business initiative to develop of our economy and actions of micro economy? Please details us?

Moazzem Hossain: A microfinance institute focused on developing Bangladesh's economy could implement several initiatives and actions to foster economic growth at the micro-level. Here’s a comprehensive approach like Targeted Microloan Programs, Financial Literacy and Training, Group Lending Models, Digital Financial Services and Community Development Initiatives.

Actions in the Micro Economy:

Market Research: Conduct surveys to identify the needs of local entrepreneurs and understand market dynamics, ensuring that loan products are relevant and effective.

Partnerships with Government departments: Collaborate with government agencies to align efforts in poverty alleviation and economic development, maximizing resource utilization.

Monitoring and Evaluation: Implement a robust system for tracking the impact of microloans on businesses and communities, using data to refine programs and improve outcomes.

Advocacy for Policy Support: Engage with policymakers to advocate for supportive regulations and incentives that promote microfinance and small business development.

Sustainability Practices: Encourage borrowers to adopt sustainable practices, such as eco-friendly production methods, to ensure long-term viability and minimize environmental impact.

Holiday Post: How to achieve to goal of your community group, and what is your business strategy? Please details us?

Moazzem  Hossain: In our community group, we provide loan to the borrowers at the same time we provide skill development training and regular follow-up to his/her Agriculture, livestock, fisheries firms or other business through our experts, so that our borrowers can do profit, increase their income.

Holiday Post: Describe your policy in a free market economy?

Moazzem Hossain: In free market economy, we always try to make the borrower’s business profitable, so that our borrowers can increase their income and repay our installment easily.

Beside the loan facility we also provide them different skill development training and regular follow-up his/her Agriculture, livestock, fisheries firms or other business through our experts.

Holiday Post: What is your special Suggestion to Micro finance industry in Bangladesh?

Moazzem Hossain: The microfinance industry in Bangladesh has significantly contributed to poverty alleviation and economic development. Here are some special suggestions to further enhance its effectiveness:

Incorporate Digital Solutions: Leverage technology to streamline operations, reduce costs, and improve borrower accessibility in Mobile banking and digital platforms can facilitate easier loan disbursement and repayment.

Enhance Training and Support Programs: Implement comprehensive training programs for borrowers, focusing on financial literacy, business management and entrepreneurship. This support can empower borrowers to make informed decisions, reduce default rates, and enhance business success.

Monitor and Evaluate Impact: Regularly assess the social and economic impact of microfinance services on clients and communities. This can help in refining strategies, improving services, and demonstrating the value of microfinance to stakeholders.

Encourage Collaboration: Foster partnerships with government agencies, NGOs, and larger financial institutions to enhance resource sharing, develop comprehensive solutions, and address broader systemic issues.

Support Women Entrepreneurs: Focus on programs specifically designed to empower women, addressing barriers they face in accessing finance and promoting gender equality in entrepreneurship.

Holiday Post; Tell us something about your present business overview.

Moazzem Hossain: Gram Bikash Kendra (GBK) is a well-known microfinance institution in Bangladesh that focuses on providing financial services to rural communities, primarily targeting economically disadvantaged individuals and small entrepreneurs. Here is an overview of present business operations like Microfinance Services, Savings and Insurance Products, Focus on Women Empowerment, Capacity Building and Training, Community Development Initiatives, Technology Integration and Social Mission. GBK remains committed to its social mission of Sustainable Development of the socio-economically marginalized communities’ living in Bangladesh by engagement of their resources & potentials through multi stakeholder partnership.