Table of Contents
Microcredit Finance
This report encapsulates my enriching journey with Jagoroni Chakra Foundation, an esteemed non-profit organization dedicated to fostering socio-economic development in Bangladesh. I had the privilege to immerse myself in the Foundation’s multifaceted initiatives, gaining invaluable insights into its mission, operations, and impact. This report serves as a comprehensive overview of my experience with Jagoroni Chakra Foundation, a non-profit organization committed to socio-economic development in Bangladesh. Throughout my tenure, I delved into various facets of the Foundation’s initiatives, gaining valuable insights into its mission, operations, and impact. The report on Microcredit finance activities of Jagroni Chakra Foundation aims to provide a comprehensive analysis of the organisation’s efforts in empowering local communities through microcredit finance initiatives. It develops into the foundation strategies impact assessment and sustainability measures, shedding light on the role of microcredit finance in fostering economic growth and social development. Through this report, we aim to gain insights into Jagrani Chakra Foundation’s contribution to poverty alleviation and overall well-being of individuals involved in their microcredit programs.
1.1 Objectives of the study
The main objectives of this report is to gain an understanding of the company’s internal practices and its human services, which are aimed at assisting clients in acquiring psychosocial, physical, occupational, social, and independent living skills. We can also develop our professional competencies.
1.1.1 Main Objectives:
Main objective of this study is to explore and evaluate the microcredit finance activities perform by Jagoroni Chakra Foundation.
1.1.2 Secondary Objectives
- To analyse loan disbursement process of Jagoroni Chakra Foundation.
- To evaluate the overall success of Jagoroni Chakra Foundation’s Microcredit finance initiatives.
- To SWOT analysis.
- To problem identification of microcredit finance activities of Jagoroni Chakra Foundation.
1.2 Description of the Company
The Jagorani Chakra Foundation (JCF) is a non-governmental, non-profit, non-sectarian, voluntary development organization that carries out a variety of activities, including socio-economic, technical and vocational, sustainable livelihood and food security, agriculture, environment and climate change, health, education, cultural development, and human development, among others.
1.3 Methodology of the Report
I focused on all the association information, records, sites, and other important stuff to draw up an illuminating report. In addition to this, I have used talking techniques to obtain critical information from clients and association employees as well as supplementary data from legal records, such as the Annual Report. The entire necessary task was completed throughout the time of information gathering, ensuring that there are no difficulties that could affect the accuracy of the information as a whole.
Primary Sources:
- Conversation with other employees and the main Branch’s executive team.
- Speak to the client of the business.
- Update all necessary documents.
- Direct monitoring of regular operations.
Other Resources:
- A list of the organization’s official documents
- Organizational yearly reports
- Organizing body’s website
PROFILE OF THE OORGANIZATION
2.0 Introduction
The Jagorani Chakra Foundation was created in accordance with NGOAB’s guidelines. With a vision to transform society, Md. Azadul Kabir Arzoo founded Jagorani Chakra in 1975 in Sankarpur, Jashore. Currently operating in 46 districts across the nation, Jagorani Chakra uses unconventional methods to deliver services such as human rights, agriculture, and education to the society’s most marginalized groups. JCF continues to hold that education is the foundation of all development and should come first when implementing any new interventions. The Organization has 390 offices across the nation with a total of 4,630 employees at its head office at 46, Mujib, Shahid Sarak Road, Jashore, 7400.
2.1 Brief History of Jagorani Chakra Foundation
Md. Azadul Kabir Arzoo established the Jagorani Chakra Foundation in Sankarpur, Jashore, in 1975. JCF began its first development intervention in 1976, opened a center for non-formal education for kids, and received registration from the Directorate of Social Welfare in 1977. His wife, Merina Akther, serves as vice executive director of the organization, and he is its chief executive. Jonesh Biswas is the chairman of the EC committee, followed by Rezwan Gazi as manager of my branch office (Barinagor Jashore-1). G banker is the official program used by the Jagorani Chakra Foundation. The executive director of the Chakra Foundation, Md. Azadul Kabir Arzoo, was honored with the 2019 Entrepreneurs Award in India for his exceptional work in social welfare. Franchise India organizes the “Entrepreneurs Award,” one of the most renowned prizes in Asia in the field of entrepreneurship. At the “Entrepreneurs Awards 2019” event held by Franchise India at the JW Mariott Hotel in New Delhi, Md. Azadul Kabir Arzoo was presented with the honour. Several national and international honors, including the most recent Dada Saheb Falk Film Foundation Prize in 2019, have been bestowed upon social worker Azadul Kabir Arzoo. Entrepreneur India 2019 is a platform for business owners to identify and release ground-breaking ideas, innovations, and insights necessary to realize their potential to upend the social, economic, and technological ecosystems.
2.1.1 Working Area of JCF
Table 1: Working Area
2.1.2 Total Office of JCF
SL | Division | District | |
1 | Khulna | Bagerhat, Khulna, satkhira, Jessore, Narail, Magura, | |
Jhenaidah, Chuadanga, Meherpur, Kushtia | |||
2 | Dhaka | Dhaka, Gazipur, Gopalgang, Munshigang, Rajbari, | |
Faridpur | |||
3 | Rajshahi | Rajshahi, Natore, Sirajgang, Naogaon, Pabna | |
4 | Mymensingh | Mymensingh | |
Source: Annual Report 2021-22 |
Table 2: Total Office
SL | Types of Office | Number of Offices |
1 | Head Office | 01 |
2 | Training and Resource Centre | 02 |
3 | School | 07 |
4 | Project Office | 35 |
5 | Microcredit finance Branch Office | 168 |
Total Office | 213 |
Source: Annual Report 2021-22
2.2 Mission and Vision of Jagorani Chakra Foundation
Vision: Bangladesh should be rich, safe, and free from poverty.
Mission: To improve the capacity and self-esteem of poor communities.
Goal: Strengthen socio economic development initiatives to meet the expanding needs of underprivileged communities with leadership, quality and satisfaction.
Long Term Objectives: Achieving the financial freedom of the oppressed people creation of a just society where everyone will value equality Rights and the fair share of the asset’s achievement of economic progress for associations, networks, and programs.
Short Term Objectives
- The formation of awareness among partners and the formation of self-help groups.
- By small-scale income-raising activities, encourage and promote the growth of the underprivileged masses.
- Conduct formal and informal education programs for kids, illiterate adults, and kids who don’t attend school or drop out, as well as feeder programs.
- Offer services for primary healthcare.
- Provide education and credit assistance services to support income-generating activities.
2.4 Introduction of all the Departments
2.4.1 Department of Admin and HRM
The general administrative responsibilities of any Admin and HRM Department include creating and carrying out policies, maintaining papers, administering, keeping the house clean, according to the law, etc. A wide range of responsibilities fall within the purview of JCF’s HRM, including managing organizational development, payroll and compensation, hiring and personnel, performance and training, and potential customer relations.
The administration and human resources department collaborates closely with managers and staff to address employee concerns, review performance reviews, manage compensation plans, uphold corporate policies and procedures, monitor organizational development, and support internal investigations as necessary. Examples of job titles for those working in administration and human resources include hiring manager, corporate recruiter, corporate trainer, compensation administrator, payroll clerk, and benefits supervisor, among others.
2.4.2 Department of Finance and Accounts
Every facet of a business must be understood by a good finance and accounts department in order to create a financial plan that will support the company’s objectives. Likewise, as a non-financial manager, being aware of the varied responsibilities of your company’s accounting and finance division will make you more productive in your own position (Feichter & Shahzaib, 2019).
Recording financial transactions that occur during routine business operations and reporting a company’s cash flows, both in and out, are responsibilities of JCF’s finance and accounts department. The five primary duties of this Department are as follows:
- Keep up with all books of accounts.
- Payroll
- Budgeting
- financial restrictions
- monetary reporting.
2.4.3 Department of Internal Audit
An industry has recently emerged around the need and desire for better corporate administration. Accounting firms provide corporate administration consistency administrations, business colleges offer corporate administration courses, and there is growing public interest in connections with corporate administration-related issues (Stein, 2008). The primary objective of JCF’s internal auditing division is to gather data that can be analyzed and turned into insightful knowledge about how the company can be operated more effectively. Internal auditing typically employs four techniques to accomplish goals. These are:
- Observing the environment of the running projects.
- Inspecting the specific risk management techniques, financial reporting and productivity strategies that are currently in place.
- Inquiring or asking questions of management body related to the effectiveness and efficiency of the current internal controls.
- Confirming whether the goals and objectives of the business are being met.
2.4.4 Department of Monitoring and Evaluation
The Monitoring and Evaluation Department of JCF’s primary responsibilities with regard to the crisis response program are to:
- At the beginning of the crisis reaction, assist in developing appropriate pointers.
- Provide and facilitate frameworks for checking that include information gathering, research, and audit.
- Organize inspections and evaluations of each and every other Department. Make sure information gathered through observation exercises is communicated to ranking directors promptly and in a correct manner so that any problems can be addressed as they arise
2.4.5 Department of ICT
The engineering, equipment, programming, and systems administration of the association’s PCs fall under the purview of JCF’s Information and Communication Technologies (ICT) division. Computer users inside the association can get assistance from the ICT office. This includes installing new software, fixing equipment problems, installing new equipment, looking into problems, and training staff on how to use new programming projects most effectively. It also includes helping staff with PC-related problems.
2.4.6 Department of Training
The Department of Training has the following roles and responsibilities:
- Assessing individual and hierarchical performance to make sure that training is meeting association needs and enhancing performance.
- Composing and distributing preparation plans that handle authoritative problems.
- Improving the efficiency of the preparation of forms.
- Choosing and managing resources, as well as collaborating with interior representatives and training merchants to produce and provide training.
- Managing the ideas and skilled labour force needed to design, monitor, and deliver preparation.
2.4.7 Department of Communication and Documentation
To carry out the core board functions of planning, organizing, leading, and controlling, chiefs in organizations must have effective communication. All archives must be organized from a hierarchical standpoint by the JCF Department of Communication and Documentation. A testing expert periodically conducts exams to identify the strengths and weaknesses of recently hired representatives after auditing their capabilities (Mizer, 2005). An expert in preparation will make a decision about how to modify the representative for the business in light of the results. The Communication and Documentation Department carries out these tasks here in response to each association’s requirement to establish a variety of records.
2.5 Organization Hierarchy Chart of Jagoroni Chakra Foundation
JCF has different departments for maintaining the operation. The complete organization hierarchy is illustrated below-
2.6 Number of employees
The organization has 8,015 people and has 665 offices, 2 training facilities, 51 districts, 315 upazilas, 2,319 unions and 11,945 villages. Its total budget for 2021-22 is 77,033.58BD TK (712.02 million USD $).
2.6.2 Operational Area of JCF
JCF operates its activities with different offices in the different geographical areas of Bangladesh. Those locations are given below in the Map of Bangladesh-
2.7 Structural attractiveness of the market
The Jagoroni Chakra foundation’s organizational structure is advantageous because it creates a marketplace where employee may share their expertise across functional divisions, facilitating improved communication and understanding of each function’s goals. By working in a variety of functions, employees can diversify their knowledge and skills, which will help them progress professionally within the organization.
2.7.1 Target group of microcredit finance program
Target Group of microcredit finance Program is-
- Landless Peasants
- Marginal Farmers
- Destitute Men and Women
- Ultra‐Poor
2.7.2 Loan Product
JCF offers a range of loan options to meet the needs of the organization’s target demographic. All lending programs are created with a focus on the demand of the intended audience and the market’s allure. These initiatives are
2.7.3 Jagoron
In Bangladesh’s rural and urban areas, Jagoron is an appropriate financial assistance program to promote the improvement of family-based businesses. This initiative encourages provincial borrowers to engage in activities that can generate income for the families. According to 121,567 borrowers as of June 30, 2023, Jagoron’s exceptional is 1,629,585,519 BDT. According to the Reducing Decline Technique, this part’s loan cost is 25%.
2.7.4 Start-Up Capital
The areas in which JCF is carrying out the Starting capital Loan component of the Promoting Agricultural Commercialization and Entrepreneurship (PACE) Project. These funds were designated for creating new small-business owners in order to generate income activity. Presently, the absolute advance extraordinary is 1,306,861 BDT. The financing costs are calculated using Reducing Decline Methods at 20%.
2.7.5 Sufolon
As a more extensive form of microcredit finance, JCF encourages a coordinated agriculture lending program to various Income Generating Activities (IGAs), including crop production and processing, livestock, fisheries, agro-forestry, agro-processing, etc. The interest rate on this loan is 25%, calculated using the decreasing approach. The entire outstanding of its component is 915,044,507 BDT, according to the report from June 2018.
2.7.6 Savings Component
JCF has different saving-
- Regular Savings
- Willingly Savings
- Fixed Deposit
- Long Term Deposit Scheme
The fundamental goals of JCF are to protect the inherent worth and rights of both men and women. For all impoverished people to have their moral, ethical, spiritual, and intellectual needs met as well as for equality and societal advancement, it is essential that they are employed, fully participate in decision-making, and have access to resources. In this regard, it is also necessary for our nation to acknowledge the potential contribution made by persons connected to civil society, the media, human rights organizations, and other non-governmental organizations in achieving goals pertaining to the empowerment of the populace.
The organization’s objective is to raise critical awareness among the members of the targeted community about the socioeconomic realities they currently face, the causes of their poverty, and how to overcome it by improving their socioeconomic standing by boosting their sense of dignity and independence.
The Jagorani Chakra Foundation has been working on this issue diligently for many years, putting our best effort toward the gender equality issues as well. We sincerely want to participate in society. (Annual Report, 2018-19)
FINDINGS/ RESULT
3.0 Introduction
The organizational profile of JCF is well-described in Chapter 3 in a concise manner. My experience from both watching and working on all the ongoing programs in which I have taken part is discussed. I include the various jobs I completed for JCF, along with the organization that I report to. Certain issues I saw during my organization research have been prepared as part of a SWOT analysis of the company. This chapter also covers the effects of those issues and my suggested solutions.
3.1 Description of the Program
JCF runs a number of activities as part of its primary program. They mostly consist of social welfare initiatives. One of these is the program, where a large number of interns are assigned to their organization each year from various institutions (such as Cantonment College, Government City College, Government M. M. College, and Jashore) as part of their organizational responsibilities.
I enrolled in the social service section program run directly by JCF. I’ve had positions with the microcredit financing Program, the Skills for Employment Investment Program (SEIP), and the Promotion of the Small Car Industry of Jashore, Tissue Culture Lab, Training and Resource Center (TARC), School Feeding, Barnamala Bidyapith Pre-School, Barnamala Bidyapith (Formal Education), and Senior Citizen Welfare Program.
3.1.3 Training on Field Executive Department
JCF is a non-government organization (NGO) and their main activities is loan disbursement. Yet, they have a good role in social development. Their field executive go door to door to collect money in every week or month in a fixed day those they provide loan. I got training on this sector. Loan disbursement is also known as microcredit finance activities. It has also many departments like field executive manager, area manager, branch manager. I mainly workout on official activities like check it the customers necessary paper which is essential for getting loan. Yet, I gather much experience on field executive department.
3.2 Focusing on Specific Area: Microcredit finance program
JCF, or Jagoroni Chakra Foundation is a shortened version. JCF is a neutral, nongovernmental, and social welfare organization that works with Bangladesh’s most underprivileged citizens to extend a helping hand in order to help them meet their basic needs while also developing their physical, mental, social and spiritual selves. It is a non-profit, non-sectarian volunteer development group that aims to promote the socioeconomic liberation of the nation’s poor citizens. Azadul Kabir Arzoo, who is the chief executive of Jagoroni Chakra Foundation and whose wife Merina Akhter serves as his deputy, formed it.
3.2.2 Microcredit Finance Program
JCF runs microcredit finance programs in 46 districts of Bangladesh, with 226201 clients from 12,532 villages. The Palli Karma-Shayak Foundation (PKSF) and various commercial banks have donated money to this program. It aims to assist those who are living in poverty in a variety of ways including promoting simple access to credit and savings, allowing investment in small businesses, assisting families in keeping up food expenditures, and providing coping strategies for emergencies. Extreme poverty, food security, health, education, gender equality, sanitation, means of subsistence, inclusiveness, economic growth, and climate change resilience are all directly impacted.
JCF began introducing software for its microcredit finance program in 2012 in order to make it more transparent, stable, and efficient for a significant horizon of microfinance. Following a three-and-a-half-year trial and error period, the JCF microfinance program was ultimately dubbed “Software Automatic Microfinance” in May 2016. The fact that this software is web-based and has a server is more significant.
The software generates a daily printed Collection Sheet from all of the microcredit finance project’s daily financial inputs. The activity of the microcredit finance project can be followed by members who have financial profiles. Based on data provided by the software, monitoring and auditing can be done remotely.
3.2.3 Skills for Employment Investment Program (SEIP)
The SEIP is a program that trains individuals to become electrically proficient, which prepares them for work. Each participant in the program must pay TK. 2400 for the three-month course, which covers lodging and meals. Every student must have at least a JSC certification and be 18 years of age or older in order to meet the minimal requirements for admission to this course. According to the guidelines of the Skills for Employment Investment Program, the employment rate is 70–80% after the program is complete.
3.2.4 Development of Small Automobile Industry of Jashore
JCF offers training programs and service facilities to a wide range of customers in order to advance the development of the contemporary auto industry. The majority of the technicians on hand at the moment are still working on cars utilizing antiquated methods. There are 6000 general automotive technicians and 3000 local repair shop proprietors among the 9000 permanent students enrolled there. Since they are ongoing students, they have access to the institute whenever they need technical or consulting assistance. There are 9 project employees available to assist them as needed. (Personal communication from Sheik Mahmudur Rahman and Engineer Diprosish Majumder Shuvo).
3.2.5 Training and Resource Center (TARC)
The JCF Training and Resource Center (TARC) is located in JCF Head Office (46 Mujib, Shahid Sarak Jashore). It was built to offer training to the organization’s staff, as well as to those involved with it and those interested in organizing programs outside the organization. The TARC centre has always been dedicated to maintaining a tidy and clean atmosphere. There are two conference rooms with a combined seating capacity of 150 and 250 persons, respectively. The TARC’s eating area, which has a capacity of 100 people, is tastefully designed. I spoke with Mr. Anjelo Das, the director of the TARC, and I learned all the facts mentioned above.
3.2.6 Senior Citizen Welfare Program
At Shimulia, Jhikargachha, Jashore, JCF runs the “Shimulia Boesko Club,” a senior citizen care program. There are 125 people who have registered as members of this group, and the minimum age requirement is 60. A free medical examination with medication and access to indoor activities are provided to club members (i.e., watching television, playing ludo, carrom board, card games, picnic, etc.). I had the chance to learn more about them when I went to the club. Mentor of the group, Ms. Tahmina Akter, in personal communication.
3.2.7 School Feeding Program
Sometimes my branch manager Sanat Kumer Biswas were visited the nearest Churamonkathi High School for feeding program and I also visited with him.
3.3 My Position and Responsibilities
JCF runs microfinance programs in 46 districts of Bangladesh, with 226201 clients from 12,532 villages. The Palli Karma-Shayak Foundation (PKSF) and various commercial banks have donated money to this program. It aims to assist those who are living in poverty in a variety of ways including promoting simple access to credit and savings, allowing investment in small businesses, assisting families in keeping up food expenditures, and providing coping strategies for emergencies. Extreme poverty, food security, health, education, gender equality, sanitation, means of subsistence, inclusiveness, economic growth, and climate change resilience are all directly impacted.
In order to help those who are severely impoverished launch and run a business, JCF Microcredit finance offers small loans. The borrowers are able to put money away and repay the loan over time. Because microcredit finance is more than just a contribution; it also involves creating assets, it supports financial security.
3.4 Strength, Weakness, Opportunities and Threats (SWOT) Analysis
SWOT refers to strengths, weaknesses, opportunities, and threats. The internal terminology of the organization exercising direct organizational control are strength and weakness in this case. Threat and opportunity, on the other hand, are external factors that have an impact on the company from the outside.
3.4.1 Strength of JCF
Direct root level people contract: JCF has the best possibility to connect with the root level people to offer various services for the advancement of humanity as it performs various social activities.
The majority of JCF’s operations are service-related, where it is crucial to engage with the community and provide all services in an effective manner. JCF was able to grasp who they were and create the best plans of action for the future by interacting with these fundamental individuals.
Promotion of local resources: JCF is generally focused with utilizing local resources. Encouraging Agricultural Commercialization, Business and Biogas Project, and Solar Household System are the most well-liked projects. By all of these initiatives, the organization is able to draw customers who will directly profit.
High borrowing rate:
JCF typically takes out high-interest loans from its various financial partners at a cost of roughly 20% in order to manage the necessary capital. For the organization, offering microloans at a lower interest rate is difficult due to this interest rate.
Lending limitation:
Due to its non-profit status, JCF has a cap on microloans of up to Tk.10,000. As a result, JCF occasionally are unable to satisfy the lender’s request.
Documents limitation:
For loans greater than Tk. 50,000, a paper of guarantee, such as a bank check or stamp to property, is required, which makes the majority of people uncomfortable. On the other side, ASA, a different microcredit finance organization, requires certain documents in order to provide loans greater than Tk 70,000. As a result, some lenders are migrating to different microcredit finance institutions.
3.4.3 Opportunity of JCF
Possibilities of expansion:
JCF is now performing its activities in 46 Districts. Bangladesh is a country that places a lot of emphasis on its villages, thus there is still a great possibility for them to spread throughout the whole nation.
Social Connectivity:
The working area of JCF is home to around 22 social events. JCF employees frequently interact closely with the public when participating in these social activities, giving them the chance to spread the word about some of their most valuable programs, such microcredit finance.
New Government policy:
In the table of the “microcredit finance Regulatory Authority” (MRA), a new money lending limit policy for microfinance organizations is being considered. It would increase the money lending limit to Tk. 40,00,000 while retaining the asset-borrowing ratio of 6:4.
3.4.4 Threat of JCF
Growth of other NGO’s:
The expansion of other microcredit finance institutions ought to be the biggest threat to JCF. High competition in the microcredit finance industry will result from other organizations’ rapid growth.
Banking with rural people:
A variety of banking institutions are now attempting to reach out to rural residents or have already done so in order to increase their clientele to include these low-income individuals. Because there is no official branch, the majority of banking institutions are dispersing their agent banking services over the outlying regions.
Government policy:
The microcredit finance Regulatory Authority (MRA) publishes a number of policies to regulate similar businesses without engaging in unfair competition. The organization may occasionally be burdened by the stated policy, such as tax laws. As a result, it poses a threat to the organization.
3.5 Problem Identification and Recommendation
Every organization wants to overcome it’s all limitation but it is almost impossible to be problems or limitations free. So, some limitations of JCF that I observed during my internship program is as follows:
3.5.1 Problem identification
Absence of qualification of the general body member
The most accountable individuals for making decisions across the entire company are JCF general body members. So, it is crucial to have a thorough understanding of their industry. The qualification as per the field of specialty of the general body member is not stated in the JCF Annual Report for 2022-2023.
Absence of director report:
There is no report from the organization’s director contained in the JCF Annual Report for 2022-23.
Absence of audit committee report:
The absence of an audit committee report in the JCF Annual Report surprises me greatly. As a result, the reader of the Annual Report is never aware of the functions and duties of the audit committee within the company.
Poor presentation of financial information:
There are various numbers of notes consolidated Statement of Financial Condition in the Annual Report of JCF 2022–23, but there is no explanation of the amounts anywhere in the report.
Absence of Notes to the financial statement:
The Annual Report of JCF lacks one of the key financial statement components, the notes to the financial statement.
3.5.2 Consequences of the current problem
The majority of the issues I found in JCF’s financial statement are related to the difficulties I identified there. As a non-profit, non-government organization that works to benefit humanity, JCF typically receives financial subsidies from the government and various foreign organizations. The organization’s reputation and other business ties, however, can be negatively impacted in the long run by this incomplete financial information.
3.5.3 Recommendation
After observing the whole activity process of JCF, I have come up with some suggestion which might help the organization. The following recommendations are given below:
Disclose the education qualification and area Expertise of General Body Member: As skilled personnel are crucial to the effective operation of any firm. Every general body member should be an expert in the particular JCF field of endeavour, and they should make that knowledge known in the Annual Report.
Proper discloser of Financial Information’s:
Financial statements are an essential component of every business; thus, they should be produced such that anyone reading them can quickly find the details they need to understand the corporation.
Prepare Annual Report in Standard Structure:
The annual report should be prepared according to a set format because it serves as the organization’s primary point of contact with the public. The Director Report, Corporate Governance Report, Audit Committee Report, and all other required parts of the Annual Report should be attached to it.
Reducing Documents Requirements to Loan:
JCF needs to loosen up a little more when it comes to giving rural residents a midrange loan. While all borrowers are from rural areas and other microcredit finance organizations want all of these documents for high-range loans, JCF should lessen the documentation requirements for midrange loans.
3.6 Summary of the Chapter
According to the widespread consensus is that Bangladesh’s microcredit finance program helps in declining the poverty line and raising rural resident’s standard and Jagoroni Chakra Foundation is one of them. This program is very effective in improving the beneficiaries’ poverty levels and standard of life. May be JCF will continue their microcredit finance program with more beneficiary engagement in order to sustain their socio-economic progress. If the effort be made to boost revenue earning through adequate microcredit use and that an appropriate monitoring system has to be built by the microcredit finance organization.
CHAPTER FOUR
CONCLUSION
4.0 Introduction
JCF generally focuses on social service. As a result, they engage in a number of fund-raising efforts, the microcredit finance program being one of them. Throughout my entire internship program, I have firstly visited a variety of social service programs close to Jashore City with a focus on the kind of social programs that are currently running and how they are conducting their programs with primarily villagers. In this social program, I have learnt how they work, but there is less opportunities to work with them like daily activities. Then I have engaged with microcredit finance program in Barinagor Branch. In this microcredit finance program, I have engaged with field level work. Though I have got the opportunities in different field but there have no opportunities to engage with corporate job in JCF Head Office. From the Head Office, they just instruct us in which program we must visit and require tasks to perform.
4.2 Personal Assessment of the JCF
In order to achieve its organizational goal, JCF runs a number of programs, including Socio-Economic Development for the rural population’s financial independence, Technical and Vocational Department for the creation of skilled labor, and Educational, Agriculture, Health, Cultural, and Human Development Program.
The Microcredit finance Program, which is offered in 46 Districts around the nation, is JCF’s primary financial initiative. In this instance, the Microcredit finance program’s goals are to promote impoverished people’s access to credit programs for self-employment and the development of income-generating ventures.
JCF has the ability to link people at different levels and comprehend their demands and mental movements. JCF is able to mobilize the local resource into the most lucrative market in this way. Nonetheless, other NGOs and banking institutions are currently JCF’s main competitors in the working field.
In addition, JCF performs well in his line of work. However, in my opinion, the Annual Report’s presentation of the financial data needs to be improved. Because the Annual Report does not include several crucial reports, such as the Director Report and the Audit Committee Report.
Most people believe that all of JCF’s projects contribute to the socioeconomic advancement of Bangladesh’s rural population. The JCF controlling area’s economic situation has improved as a result. JCF, however, focuses on developing skilled labor and boosting the local economy in order to work for the social community’s development. And I believe JCF will be successful in achieving its goals for the advancement of humanity