BB to convert SME policy to MSME next year: Atiur
Friday, 12 November 2010
The central bank will convert the existing SME policy into MSME (Micro, Small and Medium Enterprises) in the next year with a view to removing poverty at the grassroots-level and minimizing discrimination through engaging village people in income-generating activities, reports UNB.
"We'll take the SME policy towards an MSME policy next year, and an MSME expert has already been appointed," Bangladesh Bank Governor Dr Atiur Rahman said Thursday.
He said the MSME would become popular to the people, even spreading like 'wildfire' among the targeted people if credits are provided to them at an interest rate of two per cent. "We'll propose keeping a special allocation in the budget for this purpose."
The central bank boss was speaking as the chief guest at an executive seminar titled 'Micro, Small and Medium Enterprise for a Prosperous Bangladesh' held at the conference hall of the BB building Thursday.
Former BB governor Dr M Farashuddin addressed the seminar as the keynote speaker.
Farashuddin said concentration should be given on agriculture to minimize discrimination, eradicate poverty and generate employment opportunities through setting up micro, small and medium enterprises in villages.
He suggested keeping mandatory one semester for all college and university students which they would spend in villages through engaging them in productive activities with the farmers.
"It'll help them to get a feel about the country, development and to face the challenges that are ahead for development," he said.
The former central bank boss does not think that reduction of bank interest can bring development; rather he thinks the population will have to be converted into resources instead of considering it as burden. "Vocational training is a must to serve the purpose."
He stressed cooperation between actors to raise GDP growth into double digits, after being stranded below 6 percent for a long time.
Farashuddin criticized the governments for not taking any steps to decentralize the head offices of banks. "I've long been shouting to decentralize the head offices of the banks. No government paid heed."
Deputy Governors and senior officials of Bangladesh Bank were present.
"We'll take the SME policy towards an MSME policy next year, and an MSME expert has already been appointed," Bangladesh Bank Governor Dr Atiur Rahman said Thursday.
He said the MSME would become popular to the people, even spreading like 'wildfire' among the targeted people if credits are provided to them at an interest rate of two per cent. "We'll propose keeping a special allocation in the budget for this purpose."
The central bank boss was speaking as the chief guest at an executive seminar titled 'Micro, Small and Medium Enterprise for a Prosperous Bangladesh' held at the conference hall of the BB building Thursday.
Former BB governor Dr M Farashuddin addressed the seminar as the keynote speaker.
Farashuddin said concentration should be given on agriculture to minimize discrimination, eradicate poverty and generate employment opportunities through setting up micro, small and medium enterprises in villages.
He suggested keeping mandatory one semester for all college and university students which they would spend in villages through engaging them in productive activities with the farmers.
"It'll help them to get a feel about the country, development and to face the challenges that are ahead for development," he said.
The former central bank boss does not think that reduction of bank interest can bring development; rather he thinks the population will have to be converted into resources instead of considering it as burden. "Vocational training is a must to serve the purpose."
He stressed cooperation between actors to raise GDP growth into double digits, after being stranded below 6 percent for a long time.
Farashuddin criticized the governments for not taking any steps to decentralize the head offices of banks. "I've long been shouting to decentralize the head offices of the banks. No government paid heed."
Deputy Governors and senior officials of Bangladesh Bank were present.