The central bank is set to launch a re-financing scheme worth Tk 2.0 billion to provide loans to Tk 10 account holders, officials said.
A proposal was approved at a meeting of the board of directors held Tuesday with Bangladesh Bank (BB) Governor Atiur Rahman in the chair.
"The board of directors has given approval to launch the re-financing scheme to create a scope for the poor to earn additional money through starting small businesses," M Mahfuzur Rahman, executive director and spokesperson of the BB, told the FE.
Under the scheme, the BB will provide the fund to the commercial banks and non-governmental organisations (NGOs) at 5.0 per cent interest rate.
The banks are allowed to disburse the collateral-free loan to the Tk 10 account holders at maximum 12 per cent interest while the non-government organisations (NGOs) will charge up to 20 per cent interest.
Earlier on January 17, 2010, the BB asked the state-owned banks to open bank accounts for the farmers with a nominal deposit of Tk 10. Later, different categories of people were included in the programme.
The central bank is expected to issue a circular in this connection shortly, another BB official said.
"The BB wants to ensure inclusive economic growth through activating Tk 10 accounts across the country," the central banker explained.
As of December last year, the number of Tk 10 account holders - who are mostly farmers, garment workers, city corporation cleaning workers, freedom fighters and social safety net beneficiaries - stood at around 13.80 million.