For this reason, we are very pleased that this topic has been one of the main agenda items during the French G20 presidency in 2011. What is more, this lends greater continuity to the G20 process and to the discussion of the G20 topics. Besides ensuring that summit decisions are implemented, this also gives these decisions greater public credibility.
There is less stringency and more facilitative thrust embedded in the prudential regulations designed for this type of institutions. Khushali Bank and the First Microfinance Bank in the private sector have already started working under this new regulatory environment. Khushali Bank has already reached a customer base of 125,000 mainly in poorer districts of the country and its recovery rate is above 95 percent.