Shishu Niloy Foundation (SNF) maintains continuously strategic thinking with the participation of the organizational leadership to ensure the smooth functioning of the organization. Nonetheless it has decidedly identified certain strategic priorities which are the guiding principles of the organization.

  • Promote product diversification.
  • Pursue use of commercial capital.
  • Facilitate the nation-state and market to create favorable investment climate for the microfinance clients.
  • Continuously refresh market segments in consonance with the market of economic relations of the country.
  • Include new innovations in the financial and social services at regular intervals as the mainstream programs of the programmatic restructuring within the organization.
  • Organize organizational restructuring in relation to programmatic restructuring of the organization
  • Exercise increasing presence with the concerned authorities of the microfinance sector.
  • Adapt strategies with the emerging demands in the demand side for vibrant supply chain of Shishu Niloy Foundation (SNF)


Market Positioning

  • Identify the major attributes that the customers value most in the financial products.
  • Review different attributes in terms of product quality, prices, availability & service delivery.
  • Continuously assess Shishu Niloy Foundation (SNF) and its competitors’ offer for positioning in the market.
  • Improve the vivacity in Shishu Niloy Foundation (SNF) comparative advantage as constant phenomenon within the working area.
  • Develop linkage with NGO-MFIs across the boundaries of the working area for future effective collaboration within the greater realm of microfinance industry.
  • Exercise commendable presence in the domestic and social forums. The strategic priorities and market positioning are not dogmatic rather adaptations are made in consonance with the market demand depending on the time, place and condition. Furthermore, the strategic thinking of the leadership emphasizes on the reciprocity and synergy between the strategic priorities and market positioning to facilitate both supplementing each other.


Provident Fund

Shishu Niloy Foundation (SNF) operates a contributory provident fund for its employees from which benefits are given to its employees in accordance with its policies. National Board of Revenue (NBR) approved and recognized this fund for the purpose of taxation. The fund is operated by a separate board. All permanent employees of the Institution are contributing monthly to the fund which is equal to 10% of the basic salary. The Institution also contributes 10% of employees’ basic salary to the fund each month. Income earned from investment of this fund is credited to the employees’ accounts on a yearly basis and this fund is audited every year by a firm of chartered accountants. Gratuity Fund The organization operates a gratuity scheme for its permanent employees and maintains a separate account for this.

Risk Management

The risk management of the organization covers core risks that include industry risk, credit risk, liquidity risk, interest rate risk and operational risks. The aim of risk management is that Shishu Niloy Foundation (SNF) evaluates and takes well calculative business risks and thereby safe guards the organization’s capital, its financial resources and profitability. Risk management is done through internal control system and standard practices followed globally.

HR & Admin:

The HR & Admin cell is to keeping policies and manuals in place, based on which the day-to-day operations of the organization are to be carried out. HR sections of SNF maintain data software of staff herein can provide staff information on demand. Recruitment, transfer, termination, performance evaluation, early appraise, final disposal etc. are the regular work of this cell. They practice and interpret an update and proper service rule and pay-scale. To categorized the employees and define their job description is one of the important task of HR section. They also conduct skill improvement training to develop human capability of workforce.

Admin section operates all type of purchase under procurement policy declared by SNF. They collect demand quarterly from verities section, invite tender, prepare bid summery and provide work order. Admin section use to implement the terms of use of work-aid. To construct and maintenance office buildings is one of the important task of SNF admin section. This section also prepares and preserves the agreement copy of house rent for office, staff motorcycle loan etc. under respective policy. Moreover, they calculate the fixed assets at the end of the year and confirmed the affix of code number.

One of the main partners in Organizations the efficient, successful leadership and staff capacity.

We are organizing in different skill and staff capacity building training for their improvement. In addition, we follow the staff management procedure and need analysis for staff training.

The organization’s sustainability depends upon its system, structure, strategy, staffs and leadership.SNF is able to maintain its work on the strength of its workforce and the leadership and dedication that the employees often times exhibit in their work.

Finance & Accounts:

SNF has adopted IAS and BAS financial management system incorporating legal software which can be viewed as a tool for fulfilling the basic financial and accounting requirements. Generally, Finance & Accounts Management (FAM) of SNF is guided under an unabridged accounts manual declared by the organization. Moreover, it follows the different guide line for respective development project provided by donor and development partner if it necessary. To execute finance & accounts management, SNF usually practices Cash Book, General Ledger, Subsidiary Ledger, Payroll Register, Expenses Format, Receipt/Payment/Journal Voucher, Tour Program and Advance Requisition, Conveyance Sheet, Bank Reconciliation Statement, Stock Book Register, Fixed Assets Register, Financial Report, Attendance Report, Cheque Issue Register and other Register & Form-Format related with smooth accounting. FAM routinely prepares annual budget as well as budget variance report to ensure financial control/discipline and periodical/annual financial statement of the organization. They also assist procurement entity to purchase goods and services under procurement policy adopted by SNF.


Monitoring & Audit:

SNF has an independent & well featured audit cell used to conduct a developed structured management, information and monitoring system. They execute audit of the following fields by complaint with national, international, MRA, PKSF, IDCOL and donors’ standard in necessity basis.

  • Financial Management
  • Procurement Management
  • Human Capability Management
  • Project Management
  • Donor Grants Management

The audit cell minutely examines whether the financial and accounts related activities are being operated in proper way. To find out if any sort of irregularities, errors, fraud, forgery etc. they conduct following types of audit-

  • Thoroughly Audit
  • Follow up Audit
  • Special Audit
  • Surprise Audit

At the beginning of the year they prepare annual work plan and to be submitted after takes approval from respective authority. On the basis of annual plan, they prepare monthly tour plan at the commencing of the month and remit it to connected offices after approved by concern entity. At the end of the planning year, submitted plan use to comply with the achievement.

SNF has also established an internal monitoring cell due to smooth functioning of the programs implementing by the organization. To find out if any deviation, emission and errors of the programs, SNF monitoring cell use to conduct monitoring activities. This cell executes monitoring of the programs implementing by SNF by complaint with national, international, MRA, PKSF, IDCOL and donors’ standard in necessity basis.


Budget Formulation and Variance Analysis: 

The organizational yearly budget prepared at four level of the organization, those are (i) In primary stage the initial budget planning starts at the branch level and project office level, (ii) In secondary stage the secondary/regional/sector based staffs are review the draft budget prepared in primary steps, (iii) At this stage all sector heads at head office are checking, reviewing and making it pre-finalized the budget under the guided of Executive Director (iv) Finally the  Executive Committee reviewed and the General Board is approving the pre-final budget with depends upon satisfactory discussion with justification of Executive Board, especially Executive Director.

In case of new project budget Shishu Niloy Foundation (SNF) always try to address the local issues i.e. demand driven by the community, against of which the organization collect need based data through focused group discussion, survey and community consultation, after that analyzed and use to make information, based on those primary needs and information designed new project budget and submit to donor, when the donor give primary green signal then it is discuss in the executive board meeting, whom give pre-approval and refer to the general board for post approval.

A yearly budget is split into monthly figures spelling out financial and program targets. All branch/project offices budgets are consolidated in the head office to formulate the organization’s aggregate budget. Financial monitoring is carried out monthly based on budget variance, MIS and AIS reports.


Income Tax Return Submission:

Shishu Niloy Foundation (SNF) is a regular income tax payee organization, submitting income tax return is mandatory under government rules. The organization has regularly submitted the returns accordingly. The government has exempted as non-profit organizations dealing with microfinance from paying income tax from the surplus earned. However, if having there is any income from other than microfinance, it will be subject to the relevant rules of taxation.


Reporting System:

Different category of reports has been produced under the programs/projects in implementation like monthly report prepared by the individual staffs, compiling of which prepared organizational report, quarterly program tracking report and submitted to the donors and respective government officials. In addition to that, there are many of one short programs accomplished, against of which prepared report like baseline survey report, different training report, meeting report, workshop report etc. have been completed under the supervision and guidance of the Executive Director and technical advice of the donors’ expert. The reporting system initiated in different frequencies, which is depended on nature of program interventions, but preparation of the monthly, quarterly and annual report is mandatory and prepared accordingly, printed and circulated among different category of stakeholders.