Day 3

Session 1:

Climate setting

 

Facilitator: Mr. Shabbir Ahmed Chowdhury

 

Remarking 26th March is the Independence Day of Bangladesh, the Course Coordinator started the 3rd day session with thanks to the participants. He checked with all participants if they are okay physically and mentally. Then he explained little changes in the program schedule.

 

Check in by Participants

 

Course coordinator requested participants to check in to today’s session by saying a few words on yesterday’s learning. In this regard, following points came from participants:

 

  • It was a good day and I learnt so many new ideas on MF.
  • Learnt delinquency management.
  • Yesterday was good, hope today will go fine.
  • Thanks to Bangladeshi in their independent day.
  • The day was very good.
  • Good exercise on delinquency.
  • I learnt many information, I also like to learn more today.
  • Thanks to Bangladeshi in their independent day.
  • Yesterday was interesting to me.
  • Looking forward for new learning.
  • We had good sessions yesterday.
  • I learnt about assessment and feedback techniques of training sessions.
  • Thanks to Bangladeshi on their independent day.
  • My health improving today, hope to have active participation.
  • The contents were relevant to me.
  • Participation improved compare to 1st day.
  • Time was short.
  • Facilitators are very experienced on the topic discussed.

 

 

Session 2:

Internal Control

 

Facilitator: Mr. Mohamad Nazirwan

 

Facilitator started the session by asking participants why internal control is important. In response, participants mentioned the following points:

 

  • Control fraud
  • Ensure transparency
  • To streamline the organization
  • For achievement of target
  • Ensure progress
  • Attain efficiency
  • Ensure sustainability
  • For better performance

 

If internal control is not established what would happen?

 

Facilitator asked participants what happens if internal control system is not developed. He asked participants to give some examples from their own experience. Participants expressed their experiences on the consequences due to absence of good internal control system. They mentioned that in absence of internal control system risks increased in a organization.

 

Facilitator mentioned that MF is a business and therefore NGO-MFI should be aware of minimize risk in their MF programme. He mentioned that NGO-MFI could mitigate, and anticipate risk being the internal control system is established.

 

Discussion also held explaining how much NGO-MFI can effort loss and how much they can accept risks. Next on participants were asked to identify 3 kinds of risks from their own experiences.

 

Types of Risks

 

Participants in small groups identified several risks associated with MF programme of NGOs. The group views were:

 

  • Natural risk
  • Security risk, can not enter to the rural area
  • Internal stability, corruption
  • Cash transportation
  • Admin risk
  • Lack of management
  • Risk of fraud by the participants and the staff
  • Absence of MIS

 

It was explained that Business exposure – Control = Business risk (accepted risk)

 

Risk and its very nature

 

Risk and its nature were discussed. Facilitator mentioned the following point to explain the nature of risk.

 

  • Every activity is exposed to risk
  • Risk must be mitigated
  • Internal control is must to mitigate risk

 

Facilitator was then explained the categories of risks, which are of two categories:

  • Internal risks
  • External risks

 

Showing PP Slide, he also explained 5 different types of risks under internal and external categories.

  • Operational risk
  • Institutional risk
  • Credit risk
  • External risk
  • Financial risk

 

He then mentioned that the ‘Risk Management Framework’ that has shown them is mainly to mitigate risks before incident is happened.

 

Risk management process

 

Facilitator explained the risk management process giving different examples. They are:

§         Identify present and future vulnerabilities

§         Design and implement controls to mitigate risks

§         Monitor effectiveness of control

 

What is internal Control?

 

Facilitator showing PP slide explained the internal control giving relevant examples. He mentioned that-

 

Internal Control (Ex-ante and Ex-post):

  • To verify the efficiency and effectiveness of the operations
  • To assure the reliability and completeness of financial and management information
  • To comply with applicable laws and regulation

 

Category of Control


Facilitator also explained the different ways of control system by showing PP slides.

 

  • Preventive – to prevent problems
  • Detective – to detect problems
  • Corrective – to correct detected problems
  • Repressive – to impose sanctions on guilty parties

 

Requirements for internal control system establishment

 

The facilitator discussed what are the basic requirements to establish an internal control system, which were as mentioned below:

 

  • Capable and trusted employees
  • Separation of authority
  • Continuous control
  • Clear job description
  • Automatic control mechanism
  • Accurate and immediate accounting report
  • Proper equipment for physical security
 
Built-in Internal Control System

 

  • Segregation of duties
  • Limits
  • Signature requirement
  • Physical control
  • Crosscheck
  • Dual control
  • Computerized control

 

Inspection methods

 

§         Physical inspection

§         Sampling

§         Observation

§         Question and answer

§         Confirmation (positive or negative)

 

Inspection Technique

 

§         Testing

§         Analysis

§         Comparism

§         Verification

§         Reconciliation

§         Tracing

§         Recalculating

§         Scanning

§         Footing and cross footing

§         Checking and Ticking

§         Sampling

 

Key Audit Areas

 

Cash                                                             >>                                                      Transfers

Loan                                                             >>                                       Computer system

Provision                                                      >>                                                Fixed assets

Write-off                                                       >>                                     Interest rate setting

Savings                                                        >>                                    Financial statement

 

Types of Irregularities

 

Lack of Discipline

§         Tardiness

§         Password/information not secret

§         Inaccuracies due to carelessness

§         Regulations not followed

 

Collusion

§         Conspiracy between members of staff

§         Conspiracy between staff and client

 

Embezzlement

§         Collecting payments outside the office

§         Skimming customers withdrawals

 

 

 

Thorough Operational Audit

 

§         Plan an inspection schedule

§         Determine appropriate objectives and targets

§         Select an adequate sampling

§         Prepare effective steps

§         Expense estimate

 
Audit Reporting

 

Audit finding sheet:

 

Condition-what the problems is?

Criteria – What is should be?

Cause

Impact – Potential loss

Recommendation - special investigation, repressive or preventive

 

 

Report to management:

Satisfactory - Satisfactory with qualification - Unsatisfactory

 

 
Institutionalising
 
§         Scale of operation:
Small, Medium and Large scale MFIs

 

  • Regulatory status:

Fully regulated, partly or unregulated

 

  • Organization

Simple, complicated

 

  • Internal Auditors

Responsible and capacity building

 

Best Practices at BRI-Unit System

 

At this stage, the facilitator explained the internal control system of BRI and shared his own experiences being associated with this organization for long time.

 

Supervisory Framework:

 

  • Business development and risk management
  • Head office, Regional office, Branch
  • On-site and off-site

 

Internal Control Framework:

 

  • Regulatory fulfilment and compliance
  • Built-in the system and procedures and products
  • Mobile internal control and regional audit
  • Internal office

 

Session 3:

Sustainability and Business Planning

 

Facilitator: Mr. Shabbir Ahmed Chowdhury

 

What is Sustainability?

 

Facilitator started session asking participants how they define sustainability and hwy it is so important. He then explained sustainability and related issues after getting some points from the participants using PP slides, where the following information were covered:

·        In the present day MFI frequently use the term “Sustainability”.

·        Sustainability is simply continuity of development programme without external support.

·        So the MFIs must think about the issue of sustainability very seriously.

·        In this regard, the MFI should focus on two goals: One is a social goal of reaching the poorest, and the other is “Sustainability”

 

Broad steps in planning for sustainability?

 

He then mentioned that planning for sustainability has two broad steps:

1.      Strategic Assessment and Decision

2.      Operational and Financial Plan

A sustainable MFI should cover its all costs namely, financial, operational, inflation, loan loss and margin for the future growth from its operating income.

 

Important issues to be considered before planning for sustainability in a MFI?

 

Before planning sustainability an MFI need to consider certain important issues and make assumptions. Some of these are:

 

1.      MFI’s Vision, mission and goals

2.      Socio-economic and political environment of the country

3.      Coverage and geographical area

4.      Gender dimension

5.      Target clients

6.      Market

7.      Saving and loan policy and products

8.      Financial policy

9.      Operating procedure, etc

He mentioned that the MFI to become sustainable should cover all costs from its operation.

 

Types of Sustainability?

 

Next, the participants were asked to share their experiences about different types of sustainability. After getting participants view, he added that there are three levels of cost recovery:

·        Subsidy Dependence

·        Operating Self-Sufficiency

·        Financial Self-sufficiency

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Dimension of Sustainability

He then explain the sustainability dimension and their characteristics by illustrating a figure in the PP slide, which was as shown below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The discussion finally concluded at the importance of a business plan prior implementing a MF programme anticipating sustainability of the programme in a given conditions. Mr. Shabbir was then invited Mr. Harun to facilitate the session on Business Planning.

 

Harun, to start the discussion on business plan, asked participants what they meant by the word business plan. In response, participants mentioned the following points:

 

·        Thinking a head

·        Look for the future

·        Making financial projection

·        Plan what will be achieved in future

·        To decide what will be done and will be the result

 

Based on participants’ opinions, it was then defined that “A business plan is the statement of what will be done in future to generate benefits or profits”.

 

Importance of Business Plan?

 

Next on, the discussion was concentrated around the importance of business plan. The facilitator asked participants to think what is happened is business plan does not exist in an organization. In response participants mentioned the following points:

 

·        No achievement

·        Progress cannot be monitored

·        Staff would become inefficient

·        Staff performance cannot be measured

·        Organization will commit loss

·        De-capitalization will continue to grow

·        Organization will run in blind

 

The facilitator was then distributed some written statements among the participants and each participant was asked to read one statement, she or he received. Participants read and explained the statements one by one, which were basically to describe the importance of business plan.

 

  1. Remove vague notion and forces the organization and its staff to be quite specific about the products or services they intended to offer;
  2. Compel the organization and its staff to analyse the market and competition;
  3. Force to determine the money will be required to start and other details of operation;
  4. Business plan is essential for fund management of the program/business;
  5. Set specific target and milestones for the business/program and thereby makes the employees target driven;
  6. Make the organization and its staff systematic in operating the program/business;
  7. Ensure accountability and transparency;
  8. Make the organization and its staff careful about cost and achievement;
  9. Make the staff dynamic and performance oriented;
  10. One can see the last point of the route sitting at its starting point;
  11. Ensure optimum use of material, financial and human resources;
  12. Reduce the risk of failure;
  13. Ensure better integration and coordination among key variables and personnel that influences success and failure of the business or project;
  14. Help in monitoring the program/business compare to the original plan;
  15. Help in decision making in case of any deviation occurred in implementation stage;

 

Who prepare the business plan?

 

It was discussed that all level staff in an organization directly or indirectly involved in the business planning process, and workshop is the common process for developing a business plan. When the basic assumptions and target of achievement become cleared through discussion in the business-planning workshop, the next task is to put the financial figure in a suitability designed excel sheet. Therefore, the person who will prepare the final business plan based on mutually agreed principles and assumptions, he must have in-depth knowledge about the programme and the computer skill.

 

What assumptions should be settled first before preparing business plan?

 

Group and member related assumptions:

 

§         Number of groups to be formed

§         Group members’ should be in each group

§         Member’s drop out rate

 

Savings related assumptions

 

§         Types of Savings

§         Rate of savings

§         Rate of savings withdrawal

§         Interest paid to be on savings

 

Credit related assumptions

 

§         Number of loanees will be covered

§         Size of loans

§         Loan period

§         Interest on loans

§         Repayment schedule

§         Loan loss provision

§         Write of policy, etc.

 

It was mentioned that in this way we also have to determine the assumptions for income and expenses of the NGO-MFI to operate the MF programme.  Facilitator also mentioned that after deciding all assumptions, the next task is to prepare business plan using excel program or any other software like Visual FoxPro, etc. Finally the facilitator finished the discussion inviting participants to see how he prepared a simple business plan format in the Excel programme. But he could not show the business plan because of computer disturbance.

 

Session 4:

Building Customer Loyalty

 

Facilitator: Ms. Madhurantika Moulick

 

Causes why a member leave a NGO group

 

Facilitator started the session asking participants to think about causes, why group members leave an organization. Several responses came out from the participants:

·         Other NGO seems better to him or her

·         To take loan from a number of organizations

·         The rules and regulation may not suitable for him or her

·         Failure of that NGO to meet his or her satisfaction

·         Services are not timely may be, etc.

 

What are the effects of leaving group members from your NGO-MFI?

·         Financial income reduce

·         Cost increase

·         Business plan disrupted

·         Cash flow uncertain

 

How to retain a member in the group?

 

Facilitator then asked the participants to think about what we can do to keep the member loyal to our organization. Participants responded that:

·         We can improve our services

·         We can develop more appropriate financial products

·         We can improve our policy procedure

·         We can introduce different incentive for the group members

 

Customer retention requires

 

 

The issue of customer retention requires was then explained by the facilitator by showing PP slides.

·         Clear understanding of economic capacity to participate in the financial program

·         Ensure customer satisfaction through product packaging

·         Prompt response time

·         Root cause analysis

 

·         Tangible and intangible incentives

·         Flexibility in emergency situations

·         Post delivery services e.g. counselling, regular contact, feedback

 

Define customer loyalty

 

Facilitator then explained the meaning of customer loyalty by showing PP slides.

 

“Satisfaction is a person’s feeling of pleasure or disappointment resulting from comparing a product’s perceived performance or out come in relation to his/her expectation.”

 

Customer demand

 

·        A client views a product from various angle related to the use of the product. Thus product attribute ranking is very crucial for the organization to design its product according to client need.

 

·        The market intelligence reveal that pricing of the product can be of less importance if the combined effect of a good packaged products meets client requirements.

 

·        The responsibility of providing financial product with minimum risk lies at the providers level, therefore, the provider needs to ensure that client’s need is satisfied whilst the risk is mitigated.

 

·        For sustaining the business the MFI would need to ensure that it retains a business approach whilst maintaining its social character to allow addressing clients requirement. The spirit behind this is to allow flexibility for the poor client to make best use the product.

 

·        The demand of the clients is too varied and can often be and endless list. So a balance or a line needs to be drawn and other incentives rather than only diversified products are focused on to retain clients.

 

Defining customer satisfaction

 

 

Facilitator was then defined the customer satisfaction giving relevant examples and showing PP slides.

 

·        Satisfaction is a person’s feeling of pleasure or disappointment resulting from comparing a product’s perceived performance or out come in relation to his/her expectation.

 

·        As satisfaction is dependant on the expectation of the client, the attempt of the MFI would necessarily be to constantly provide beyond the customer expectation.

 

·        Clients are called “value maximsers”. An MFI which believes in retaining the clients would always workout the clients expectation and provide accordingly so as to ensure that customer derives maximum value for the service or product he or she has chosen to use.

 

Note: Facilitator distributed handout on her presentation. Participants are requested to review the handout while reading this process documentation for more information.

 


Session 5:

Financial Ratio Analysis

 

Facilitator: Mr. Emrul Hasan

 

Facilitator started the session with reference to income statement and balance sheet that were discussed yesterday.

 

It was checked how many organizations do financial analysis; in response many participants mentioned the practice of financial analysis in their organization for MF programme.

 

Why do we analyse financial ratios?

 

To know overall performance of the programme in financial aspects, we need do financial ratio analysis. The financial ratios give us the overall financial health of our organizations. It is required that each NGO-MFI must calculate the financial ratios on a regular basis.

 

What are the some rations?

 

Facilitator asked participants to give the name of some financial rations that commonly used in MF programme. In this stage, participants mentioned some ratios, which are a given below:

 

§         Portfolio in arrears

§         Portfolio at risk

§         Cost per unit money lending

§         Equity to portfolio ratio

§         Liquidity ratio

§         Savings to portfolio ratio

 

From where we do get the information for financial ratio analysis?

 

Participants were asked from where they get the information to analyse the ratios. Answer was that:

 

From income statement and balance sheet.

 

Why the financial ratio analysis important?

 

To understand the health of the MF programme.

 

What is efficiency?

 

·        Cost effectiveness

·        Maximum output with minimum inputs

·        Optimal use of resources

·        Does my organization serve as many people as possible at the lowest possible cost is define the efficiency.

 

Efficiency Ratios:

 

Facilitator explained the ratios through showing transparencies on the OHP giving necessary supporting examples. The following rations were explained under the efficiency ratios:

 

1.      Number of active loan client per staff member

2.      Number of active loan clients per loan officer

3.      Number of active loan clients per branch

4.      Gross portfolio outstanding per loan officer

 

                                                                                                                                                            Total Operating Expenses + in-kind donations

Operating Efficiency = ----------------------------------------------------------------------

                                                                                                                                                                      Average Net Portfolio Outstanding

 

                                                                                                                                                            Personnel + Other Admin expenses + in-kind donations

Administrative Efficiency = ---------------------------------------------------------------------------

                                                                                                                                                                             Average Net Portfolio Outstanding

 

Profitability Ratios:

 

Next discussion was on the profitability ratios. Facilitator explained several ratios on profitability by using OHP. The ratios were as provided below: 

 

Adjusted Operating Profit = Operating income – Adjusted Operating Expenses

 

                                                                                                                                                                        Adjusted Operating Profit

Adjusted Return on Assets = -----------------------------------------------

                                                                                                                                                                        Average Total Assets

 

                                                                                                                                                                        Adjusted Operating Profit

Adjusted Return on Equity = -----------------------------------------------

                                                                                                                                                                        Average Equity

 

                                                                                                                                                                        Interest & fee Income and from Loans

Yield on Portfolio                                           = -------------------------------------------------------------

                                                                                                                                                                        Average Net Portfolio Outstanding

 

                                                                                                                                                                        Operating Income

Operating Self Sufficiency = -----------------------------------------------

                                                                                                                                                                        Total Operating Expenses

 

                                                                                                                                                                        Operating Income

Financial Self Sufficiency = -----------------------------------------------

                                                                                                                                                                        Adjusted Operating Expenses

 

Next, participants were allowed to do an exercise on calculating some rations using a pre-prepared exercise sheet. Participants calculated the ratios in small groups.

 

Note: Facilitator distributed handouts to the participants on his discussion, when starting the discussion. Therefore, participants are requested to review the handouts while reading this process documentation for additional information.

 

 

Session 6:

Impact Assessment Methodologies for Microfinance

 

Facilitator: Ms. Sharda Naidoo

 

Facilitator opened the discussion inviting participants how they prove that microfinance

 

Findings from group work:

 

Group 1

 

§         Financial Support

§         Empowerment

§         Livelihood Change

§         Health Improvement

§         Economic Independence

§         Education / skills development

 

Group 2

 

§         The external team seem to be neutral

§         External team have more experience so they can judge better

§         External assessment acknowledge by the donors and others

§         They can give new recommendation

 

Group 3

 

Integrated Impact Assessment

 

§         More practical

§         More realistic

§         Study in depth

§         More experienced in field works

§         Time and cost effectiveness

 

Group 4

 

§         If MFIs reach to poorest of the poor they covers whole poor of the country through MFIs.

§         The impact is easily identified the reducing poverty line in different indicators.

§         The whole country financial competency increases by turns.

§         Development is a long journey. No nation could stand straight in the index of poverty line what a comprehensive improvement in regarding financial and social up-liftman. So MFI should address right now poorest of the poor.

 

After group presentations are finished, facilitator explained several question related to impact assessment of microfinance showing PP slides and providing relevant explanations and examples on the questions discussed, which were as summarized below:

 

What is impact assessment?

 

1.      MEASURING changes in the levels of poverty among clients

2.     Evaluating the extent of achieving objectives

 

 

Why we should assess the impact?

 

·        Account to donors

·        Demonstrate change in the lives of the poor

·        Balance costs against changes among client groups

 

 

The Key Debate

 

·        Impact assessment should follow a strictly academic approach and be done by external experts

 

·        Impact assessments are an integral function of running an MFI and should be internalised into the way an organisation runs its operations

 

Proving Impact

 

 

·        Goal – measuring change

·        Audience – academics, policymakers and donors

·        Objectivity

·        Factors – top down, generalisation, academic research, degree of confidence

 

Improving

 

 

 

·        Goal – understanding processes of intervention

·        Audience – programme managers and other NGOs

·        Subjectivity

·        Factors – bottom up, internal, market research, level of plausibility

 

Methods of Impact Assessment

 

§         Sample surveys

§         Rapid appraisal

§         Participants Observation

§         Case Studies

 

Impact Assessment Tools

 

§         Integrated learning system – based on pictorial diary compiled by client groups and fed into MFI system

§         Client Monitoring System – incorporated into loan application system with changes recorded for each new loan.

§         Client Exist Survey

§         Impact assessment study – measures improvements in well-being, changes in women’s status, access to social services and institutional sustainability.

 

Note: Facilitator distributed handout to the participants on her presentation. Participants are requested to review the handout while reading this process documentation for necessary information.

 

Session 7:

Experience Sharing on BRAC Microfinance Programme

 

Resources Person: Mr. Aminul Alam, Deputy Executive Director, BRAC

 

Mr. Aminul Alam, Deputy Executive Director of BRAC introduced himself with the participants. He then invited participants to watch a video on BRAC activities called “New Horizon”

 

Next on, he described different programme of BRAC showing overhead slides, which were mainly about:

 

·        When BRAC work started? In Feb. 19972

 

·        Population statistics and their categorizations and BRAC’s programme for different segments of the population.

 

Better off (27%) >>>> Approaching by BRAC Bank

Vulnerable non-poor (20%) >>> MELA programme

Moderate poor (17%) >>> General Microfinance Programme

Extreme poor (31%) >>>> IGVGD and CFPRP/TUP programme

Destitute (5%): BRAC are not reaching them and it has no programme for them, because it requires safety net programme and govt. doing something for this group.

 

·        BRAC Microfinance how differs with other credit program: Credit ++

 

Next a question and answer session held on the presentation gave on BRAC programme by Mr. Aminul Alam. The question and answers were as recorded below:

 

What is death benefit?

 

§         It a GM die they will get death benefit

§         From interest income the death benefit is given

 

What is the underlying idea?

 

·        Some members who are not taking loan they also entitled to the death benefit.

 

 

From where BRAC gets money for death benefit?

 

·        From interest income.

 

Why your target is focused on women?

 

·        Our focus is the family and we believe in women empowerment.

·        Empowered women 33% who sue their loan by themselves, 37% women give their loan to their husband or other but has full control, 30% women has no control on their loan use.

 

What is the percentage of men and women in BRAC programme?

 

·        In credit programme 98% clients are female

·        In enterprise program 90% client are male

 

Ownership of Microfinance? What you will do with the money at the end of business?

 

·        The money will go to the government, not to the BRAC and to any other person, if in case BRAC activities are suspended.

 

The session was ended here. Participants thanked Mr. Aminul Alam for his wonderful presentation on BRAC activities.

 

 

Review of the Day 3
and Participants’ Feedback

 

Facilitator: Mr. Shabbir Ahmed Chowdhury

 

In the last session of the day, participants were asked to checkout making comments on today’s performance and giving one most important learning they learned from today’s sessions. Before conclusion of the session, participants’ comments were sough on today’s performance. In response participants and the facilitators mentioned the following points:

 

§         Training was very good. How to establish internal control system is the interesting learning for me, I will apply it in my organization.

§         Day was good. I learn the usefulness of business planning and how to prepare it.

§         I learn how to build customer loyalty.

§         Importance of PRA in qualitative assessment. I wish to know more about PRA.

§         I learn lots of techniques regarding internal control, regarding audits and risks management.

§         Use of ratio analysis.

§         Importance of internal control for establishing system in the organization.

§         Portfolio tracking techniques.

§         BRAC experience in MF.

§         Financial analysis techniques.

§         Use of financial analysis ratios in MF management.

§         Day was good, got a lot of information on present practices in microfinance.

§         BRAC experience, especially death benefit fund.

§         Internal control, how to do it and what happened if it does not exist.

§         Financial analysis system.

§         BRAC experience was very good. I am very happy today.

§         Days are getting better and better.

§         Internal control system was interesting.

§         Technology disturbance, especially the computer.

§         Ratio analysis was a good revision for me.

§         Business plan is a revision for me.

§         BRAC experience, death benefit was really interesting.

§         MELA programme of BRAC. It was very interesting for me, my organization will be introducing MELA programme, where I can apply the learning.

§         BRAC presentation encouraged me.

§         Many experiences and information gathered today, especially the BRAC experience on MF.

§         Audit and internal control system.

§         BRAC experience was very interesting.

§         Marvellous answer of Mr. Aminul Alam about the use of BRAC money if in case BRAC is collapsed.

§         BRAC presentation was very insightful.

§         Ratio analysis is new to me.

§         Ration analysis was useful.

§         My health improved today, I enjoyed the session very much.

§         Every topic was highly important and relevant to us. I  will apply my learning in my organization.

§         BRAC experience sharing was very useful to me.

§         Ratio analysis was interesting.

§         I learn why business plan in important.

§         Factors to be considered while preparing business plan.

§         Internal control system was useful discussion to me.

§         Lot of knowledge was exchanged among us.

§         BRAC MF, Health and Education program is really interesting.

§         Morning session on audit was insightful to me.

§         Time was short compare to contents.

§         Today is good, I could not realize when time has passed.

§         Participants and the trainers are highly experienced. I have benefited from their experience sharing.

§         It was great day, participation was wonderful.

 

Instruction on Field Visit

 

Course Coordinator Mr. Shabbir Ahmed Chowdhury briefed the participants about next day’s field visit. He requested all participants to remain present in the lobby of the hotel tomorrow at 7:30 a.m. He reminded participants to take notes while in the filed, because they have to prepare a report in groups and to present the report describing their learning from the field visit. Finally he concluded the activities of the day three with thanks to the participants for their wonderful cooperation.