The Micro-credit Regulatory Authority Act, 2006 (Act no XXXII of 2006). Country/Territory Bangladesh Document type Legislation Date 2008 Source FAO, FAOLEX Long titleAn Act to provide for establishing an Authority for efficient regulation of micro-credit activities to ensure transparency and accountability in the activities of Micro-credit Organizations conducting Micro-credit activities in Bangladesh and for the matters ancillary thereto. Subject General Keyword Access-to-information Authorization/permit Credit Financing Governance Inspection Institution Offences/penalties Special fund Geographical area Asia, Asia and the Pacific, Indian Ocean, Least Developed Countries, South Asian Seas, Southern Asia Abstract This Act establishes the Micro-credit Regulatory Authority (Authority) in Bangladesh to regulate the micro-credit organizations and their activities. This includes issuing and cancellation of certificate for running Micro-credit Organization and to scrutinize, analyze or proactively supervise records of such organizations. The Authority shall have its own fund which may receive monies from various sources and shall maintain proper accounts which shall be subject to audit. The Act prohibits conducting Micro-credit activities without a certificate issued by the Authority and lays down the procedure and conditions for obtaining such certificate. The Authority shall maintain a depositors' security fund to secure and protect the deposit of depositors of Micro-credit Organizations. The Act provides for penalty for offences committed under the Act and measurers to be taken against organizations unable to pay its liability. Full text English Website bdlaws.minlaw.gov.bd