The
Presidents / Chief Executives
All Banks/DFIs/MFBs
Dear
Sirs /Madam,
Microfinance
Credit Guarantee Facility (MCGF)
Please
refer to BPRD Circular No. 15 dated 19th December, 2008
and other instructions issued from time to time on the above
subject.
With
a view to facilitate Banks/DFIs lending to Microfinance
Banks/NGO Microfinance Institutions (MFBs/MFIs) for broadening
outreach of microfinance, SBP has simplified the procedure
for issuance and payment of claims under the Microfinance
Credit Guarantee Facility (MCGF) in consultations with Banks/DFIs.
Banks/DFIs
are advised to finalize their wholesale lending deals with
MFBs/MFIs and submit their cases to SBP BSC for issuance
of subject Guarantee as per procedure envisaged in the guidelines
attached herewith.
This will supersede all earlier instructions/guidelines
issued in this regard.
Please
acknowledge receipt.
Encl: As above