Grameen Sahara Mutual Benefit Trust (E)
In the year 2012 the employees of Grameen Sahara has registered a Mutual Benefit Trust (MBT) in the name and fashion of Grameen Sahara Mutual Benefit Trust (E). Background: Grameen Sahara has been working with around 40,000 families through its micro-finance and other development programs. Considering the regulatory legitimacy in the financial year 2010-11 the Governing Board of Grameen Sahara resolved to separate the microfinance program from Grameen Sahara and advised to explore the best regulatory form. Based on the prevailing situation and regulatory environment promoting a Non Banking Finance Company was considered to be best option. To strive to as an NBFC the capital requirement is very high and it was little difficult to organize the capital. The staff members of Grameen Sahara came forward to make possible contributions to the company as shareholders. It was not possible to invest more individually. Therefore, formation of a Mutual Benefit Trust was considered as a necessary arrangement and the trust was registered by the name mentioned here. The trust has made investment in the company and it is one of the major stakeholders in the company.