1990 |
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The genesis of BURO Bangladesh is ingrained in the study “BURO: What It Is: What We Can Learn From It” conducted by USAID/PACT Inc. |
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Initiated five “Model Branches of Sustainable Rural Financial Service” funded by USAID/PACT Inc. |
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1991 |
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Conducted the first and second external evaluations to strengthen five “Model Branches”. |
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1992 |
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Research Department, Bangladesh Bank conducted evaluation of its microfinance program that found financial norms maintained to operate its financial services. |
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1993 |
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An external evaluation by Donors looked into overall mandate of the organization, to accept the challenge for future replication of model. |
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1994 |
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Continued with its minimalist approach but gradually started putting increased emphasis on social aspects and business skill development of the customers. |
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1995 |
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An external Review Team commissioned by Donors conducted Mid-Term Review which was the turning point for further innovations. |
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Made interventions in the flood prone areas, with the landless destitute. |
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1996 |
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Intervention made in social program with donor support for post disaster. |
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Carried out financial modeling and project design through strategic planning for complete withdrawal from donor’s support for its micro-finance program between 1997 and 2001. |
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1997 |
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An operational research by an external team on “New Products” was commissioned. |
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UN General Assembly resolution 52/194 of 18 December 1997 highlighted the micro-credit operations and recognized the role of BURO Bangladesh, among few other MFIs. |
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1998 |
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A system was developed through “Group and Kendra Reformation” for sustaining microfinance program during and at post disaster period. |
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Shift from donors grant to borrowed fund for microfinance operation. |
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1999 |
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First Microfinance Capacity Assessment was conducted by an overseas agency. |
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2000 |
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For the first time entered into formal financial market for commercial funding for micro-finance program. |
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Commissioned a review on Internal Control and Internal Audit to strengthen the MIS, FIS and overall Internal Control System. |
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2001 |
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Donors conducted “Product Development Review”. The external reviewer recognized the high quality set of financial services well adapted to the needs of the poor customer. |
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Donors’ end-term review found the achievements of all targets set for 1997-2001. |
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Second Micro-Finance Rating Risk Assessment was conducted. |
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2002 |
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A brief planning was undertaken to review and consolidate the past achievements and prepare business plan (2003-2007) for the expansion of its micro-finance program. |
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A strategic planning exercise for 2003-07 was commissioned by a Consortium of Donors. |
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A review of “Costing of Products” was externally conducted. |
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2003 |
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Third Microfinance Rating - Risk Assessment was externally conducted. |
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Microfinance model for the poorest of the poor in rural areas was put into implementation. |
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2004 |
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Microfinance model for the poorest of the poor in urban areas was put into implementation. |
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All-out efforts taken to strengthen the Code of Corporate Governance. |
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2005 |
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Geared up access to commercial banks, non-banks and international agencies. |
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2006 |
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“Char Livelihood Program” with an integrated approach began. |
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Massive expansion of program adopted during the year. |
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Automation of new branches started and old branches would be done in phases. |
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2007 |
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Introduced agriculture loan for small and marginal farmers – a new window of financing. |
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Reviewed the current loan and savings products and brought in some changes. |
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Entered the process of borrowing through “bank syndicate financing” as a second MFI in the industry.
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