BURO

about-buro

About BURO

BURO Bangladesh is a national level ‘not-for-profit’ non-government development organization set up in 1991 with a view to work for the poor on a sustainable basis to reduce poverty. It is a specialized micro-finance institution that provides high quality flexible financial services to low-income people, particularly the women, who are regarded as its prime customers. To meet their ever-growing financial needs, BURO has launched six loan products, two savings products and one insurance scheme.

It has a nationwide Remittance program which aimed at channeling foreign earnings of Bangladeshi expatriates who have been working abroad and sending their earnings to their relatives at home.

It introduces agriculture loan to small and marginal farmers and stepped up loans to the entrepreneurial clients called enterprise loan. The organization also has a wide range of hardcore poor development program and a disaster mitigation program for the affected and vulnerable group of people. BURO has been achieving milestones of success and eventually attained financial sustainability.

Vision and Mission statement

Vision

A happy, prosperous and pluralistic democratic society that meets the basic needs of the people in Bangladesh.

Mission

An independent, sustainable, cost-effective microfinance institution that provides diverse, appropriate and market responsive, quality financial and business development services at competitive prices along with other social development programs to very poor, poor and vulnerable non-poor customers.

Strategic Priorities

  • Promote product diversification.
  • Pursue use of commercial capital.
  • Facilitate foreign remittance flow to the rural and urban areas.
  • Facilitate the nation-state and market to create favorable investment climate for the microfinance clients
  • Support emerging market segments like hardcore poor; small & micro enterprises; and small & marginal farmers.
  • Adapt strategies with the emerging demands in the demand side for vibrant supply chain of BURO

Market Positioning

  • Identify the major attributes that the customers value most in the financial products.
  • Review different attributes in terms of product quality, prices, availability & service delivery.
  • Continuously assess BURO Bangladesh and its competitors’ offer for positioning in the market.
  • Improve the vivacity in BURO comparative advantage as constant phenomenon within the nation-state.
  • Develop linkage with NGO-MFIs across the boundaries of the nation-state for future effective collaboration within the greater realm of microfinance industry.

Future Direction

  • More Expansion of Micro Finance Program.
  • Reaching increasingly to the Hardcore poor.
  • Going Extensive Automation.
  • Strengthening support to Micro-Enterprise(ME) and Agriculture sector.

Market Positioning

  • Identify the major attributes that the customers value.
  • Assess importance of different attributes in terms of quality, cost, price and delivery of service.
  • Assess BURO Bangladesh and its competitors’ performance for positioning in the market.