BURO Tangail has developed an array of financial services, and as a result remains popular amongst its clients despite its relatively high interest rate on its loans. The present paper uses the CGAP Case Study Framework and examines how BURO Tangail, an innovative large/medium scale MFI operating in Bangladesh sets about the process of product development.
The paper focuses on the approach adopted by BURO which include:
An institutional commitment to high quality, client-responsive financial services delivered on a sustainable basis;
A simple system of market research embedded in its operations, procedures and involving all staff from top management to the front-line Village Development Workers as well as the clients themselves;
A thorough system of controlled pilot-testing that allows the organisation to refine its accounting and financial management systems, cost/price analyses, training and marketing systems, etc. prior to roll-out.