BB permits 14 banks to open 100 SME centres
FE Report | Monday, 28 July 2008
The central bank has given permission to 14 commercial banks for opening around 100 SME service centres across the country by December 31, 2008 to gear up financing to the country's small and medium enterprises (SMEs).
"The banks - 13 private commercial banks (PCBs) and a foreign commercial bank (FCB) - will have to collect their licences from the concerned department of the central bank by November 30, 2008 to open such centres," a senior official of the Bangladesh Bank (BB) told the FE Sunday.
The service centres will also facilitate disbursement of inward remittances to the recipients in the country's remote areas, the official also said.
He added the central bank will cancel permission, if any bank fails to open the centres within the stipulated timeframe.
On May 5 last, the BB asked the banks to submit applications by June 15, 2008, seeking permission to set up SME service centres.
The central bank also instructed the chief executives of all the scheduled banks to follow the guidelines for establishing such centers, under which the banks will provide services only to the SME clients through the centres.
"The banks - 13 private commercial banks (PCBs) and a foreign commercial bank (FCB) - will have to collect their licences from the concerned department of the central bank by November 30, 2008 to open such centres," a senior official of the Bangladesh Bank (BB) told the FE Sunday.
The service centres will also facilitate disbursement of inward remittances to the recipients in the country's remote areas, the official also said.
He added the central bank will cancel permission, if any bank fails to open the centres within the stipulated timeframe.
On May 5 last, the BB asked the banks to submit applications by June 15, 2008, seeking permission to set up SME service centres.
The central bank also instructed the chief executives of all the scheduled banks to follow the guidelines for establishing such centers, under which the banks will provide services only to the SME clients through the centres.