Message from the Chairman

As CDF ends another year of service to its member microfinance institutions (MFIs)and the whole microfinance sector, by and large and starts a new yew year, it re-dedicates itself to its key goals of developing a healthy microfinance sector, building sectoral capacity and facilitating enabling environment for its members.

The Year 2008 was the year of achievements of CDF, which depicts healthy growth in all the areas of its operations despite economic recession. Bangladesh during 2008 had to face several economic turmoil, both internally and externally. Cost of living fueled by price hike of commodities in the international market had impacted adversely on our socio- economic life. Inflationary pressure made the masses even vulnerable. Economic growth and prosperity, which depend largely on political stability of the country experienced stagnancy. Besides, the massive devastation and sufferings caused by cyclone Sidr and two floods in the year 2007 had a negative impact on economic activities during 2008.  In spite of these adverse effects, CDF performed well in the year 2008 despite the aforesaid challenges.  This was possible due to our robust policy directions and sincere efforts of the management staff.

CDF, as the only network organization representing the whole Microcredit Industry in the Bangladesh, has been discharging its responsibilities with higher level of satisfaction of its members. CDF’s partnership with other networks and its coordinated joint lobbying for a conducive regulation enforcement over the MFIs earned it huge reputation from its members. Its regional and international exposures got a boast during this year.

Moreover, lobbying, advocacies and researches done by CDF during 2008 have also impacted the sector development initiatives and affiliated regulatory framework for the microfinance industry.

CDF has been doing all these works with the prudent guidance of its Governing Body and General Body; continuous supports from partner organizations. On this occasion, let me convey my thanks and gratitude to our all members, well wishers and patrons for their unsparing support to CDF.I extend my sincere appreciation to all staff of CDF for their perseverance, diligence and hard work. They have been putting in best efforts to make CDF a center of excellence for knowledge management, lobbying, advocating and facilitating. Good luck and greetings to them.

M. Mosharrof Hossain

Chairman, Governing Body, CDF

Message from the Executive Director

It’s indeed my pleasure and privilege to briefly present our achievements and performance during the year 2008 through this report. CDF Annual Report 2008 briefly explains about CDF‘s progress and achievements in sectoral capacity building and implementation of programs and project, and presents its financial status as at December 2008.

In fact, CDF achieved substantial growth in all the core areas of its activities in a most competitive and challenging environment. Over the period, it undertook various development initiatives to enhance competencies of the MFIs, which were in forefront to combat poverty. It organized demand-driven training and customized services to its member organizations (MFIs) under a package program. Besides, CDF has also been implementing a project funded by DFID and Concern Worldwide. The aim of the project is to enrich the competency of 45 Community Based Organizations (CBOs) and to facilitate them access to commercial banking services. It is a three-year project scheduled to end December 2008 with bright prospect of extension for another year. To bring about a policy change and reforms in the microfinance industry, it is carrying out advocacy at different levels.

I am pleased to announce that during this year, CDF gained significant success in terms of building the organizational image at home and abroad. CDF was elected to the Executive Committee of the BWTP, a regional network based in Singapore. CDF has been working for longer as a capacity builder for the MFIs in order to enable them provide appropriate and better financial services to the poor. In addition, it is carrying out policy advocacy to create an enabling environment for efficient and effective microfinance operations in the country.

CDF organized some important workshops, seminars and symposium during this year. CDF is keeping track on the microfinance sector by publishing a Statistics, which is a complete microfinance statistical scenario of the country over a year. This compendium has been highly acclaimed by policy makers, researchers, practitioners, think tanks, donors, educationists and other professionals as an authentic source of statistical data of the Bangladesh microfinance sector.

CDF is making continuous effort to strengthen linkage program amongst banks and microfinance NGOs. Due to its efforts, nationalized and private commercial banks are coming forward for wholesaling fund to the MFIs. CDF's intervention is giving the poor greater access to the resources of Bank and Financial Institutions.

Our achievement and progress over the years would not have been possible without love and affection of our valued members, patrons and well-wishers dedication of our management team and continued and unsparing support of our Governing Body. I am conveying my deep appreciation and gratitude to the members of the Governing Body for reposing their trust and confidence in my al colleagues and me. Finally, I thank all the staff of CDF for their hard work and devotion to build CDF into a successful networking organization of microfinance in the country.

Md. Abdul Awal

Executive Director