An Overview of Micro Credit and Investment Practices of MIDAS Financing Limited

Abstract

MIDAS Financing Limited started the Micro Enterprise Development Initiative (MIDI) in 1993 with the intention to provide financial support to a neglected sector of enterprises up to that date. MFL was the first institution who recognized that there is a marginal group of enterprises not considered by the banking and NGO sector until this time. But during the last years and also with the pressure of government of the Republic of Bangladesh many banks started micro-enterprise schemes to extend their businesses and to reach new clients . Also the NGOs recognized that they cannot release their customers without giving them a perspective for the future. Therefore more and more NGOs decided to support them till the micro-enterprises can graduate to get loan from the banks.