BB moves to help SME, clients
Sunday, 3 January 2010
FE Report
Bangladesh Bank (BB) has opened SME and Special Programmes Department to help the sector and its clients.
"We are giving a signal to banks that the central bank has put special emphasis on the sector and they should follow the suit," BB Governor Dr Atiur Rahman said at the inaugural ceremony of the department Thursday.
"The government is preparing a five-year plan and a strong industrial sector can be built under Vision 2021 where SME will play an important role," he said.
The governor urged the banks to develop area-based lending network where a bank can help entrepreneurs of a particular area.
"A bank can target 'nakshi kantha' craftpersons in Jamalpur while another bank can help handicraft makers in Rangamati," he explained.
The state-owned banks can come forward in this regard as they have wide network throughout the country, he said.
Citing examples of other Asian countries, Dr Atiur said they consider SME an employment generating machine.
"They are using SME as a tool to achieve higher growth, reduce income inequality, empower women and alleviate poverty," he added.
The BB governor hoped that the department will develop new and innovative products for SME entrepreneurs in the coming future.
BB Deputy Governors Nazrul Huda and Murshid Kuli Khan, Executive Director Md Abul Quasem and other high officials spoke on the occasion.
Bangladesh Bank (BB) has opened SME and Special Programmes Department to help the sector and its clients.
"We are giving a signal to banks that the central bank has put special emphasis on the sector and they should follow the suit," BB Governor Dr Atiur Rahman said at the inaugural ceremony of the department Thursday.
"The government is preparing a five-year plan and a strong industrial sector can be built under Vision 2021 where SME will play an important role," he said.
The governor urged the banks to develop area-based lending network where a bank can help entrepreneurs of a particular area.
"A bank can target 'nakshi kantha' craftpersons in Jamalpur while another bank can help handicraft makers in Rangamati," he explained.
The state-owned banks can come forward in this regard as they have wide network throughout the country, he said.
Citing examples of other Asian countries, Dr Atiur said they consider SME an employment generating machine.
"They are using SME as a tool to achieve higher growth, reduce income inequality, empower women and alleviate poverty," he added.
The BB governor hoped that the department will develop new and innovative products for SME entrepreneurs in the coming future.
BB Deputy Governors Nazrul Huda and Murshid Kuli Khan, Executive Director Md Abul Quasem and other high officials spoke on the occasion.