The government has taken a proactive step towards ensuring the Microcredit Bank Ordinance, 2025, is robust and consistent with existing laws. A 10-member committee, led by Sayed Kutub, an additional secretary at the Financial Institution Division (FID), has been formed to scrutinize the draft ordinance. The committee's task is to identify and address inconsistencies between the draft and various existing acts and laws, with a deadline of 15 working days to submit their findings to the FID secretary. This move is significant as it aims to enhance the draft's coherence and effectiveness, ensuring the establishment of a specialized bank for small entrepreneurs aligns with the government's vision and legal framework. The committee's work is crucial in addressing potential issues and ensuring the ordinance's success in promoting financial inclusion and entrepreneurship in rural and marginalized communities.
