Financial Institutions Division and Finance Division of Ministry of Finance are the key two divisions deal with financial and banking related law and policy. The Division de ls with the law and policy issues related to the Banks, Non-Bank Financial Institutions, Capital Market, Insurance sector and Microcredit sector. The Division also co-ordinates activities for formulating policies on capital adequacies, as well as reviews of related policies and programmes. Bangladesh Insurance Academy (BIA) and Insurance Development and Regulatory Authority
(IDRA), Microcredit Regulatory Authority (MRA), etc. also fall under the Division’s jurisdiction. The Division has been assigned by the NSSS as the coordinator of the Social Insurance Thematic Cluster. In terms of supporting implementation of social security programmes, the Finance Division is the most important body of the government, as it is responsible for allotment of budget and formulation of different fiscal policies.