IDLC launches SME awareness programme

Bangladesh Bank (BB) Deputy Governor Md Abul Quasem Wednesday called upon the financial institutions (FIs) to render their SME credit services to all corners of the country going beyond the major cities like Dhaka, Narayanganj and Chittagong.
Mr Quasem was speaking as the chief guest at the launching of a nationwide SME awareness programme.
IDLC Finance, leading multi-product financial institution and SME financer in the country, launched the SME awareness programme aiming to create greater awareness about financing opportunities for SME entrepreneurs and reaffirm its commitment towards empowering SME business in the country.
Under the campaign, IDLC Finance will air SME television commercial in leading TV channels for primarily one and half months; it has plan to extend the TV campaign round the year, officials said.
The company will also use out of home (OOH) media, social media like facebook and twitter to convey the campaign message.
The launching ceremony was addressed, among others, by Dr Engineer Syed Md Ihsanul Karim, managing director of the SME Foundation, Selim R.F. Hussain, chief executive officer (CEO) and managing director of IDLC Finance, Masum Patwary, General Manager, SME and SPD, BB, and Zahid Ibne Hai, general manager and head of SME, IDLC Finance Limited.
Some male and female SME customers of IDLC expressed their experience of receiving loan from the company at the event.
They lauded the quick and easy credit sanction and disbursement from the IDLC, and the refinance scheme of the BB as it help them to get credit at comparatively lower rate of interest.
At the function, IDLC recognised the SME customers for their long and mutually rewarding relationship with the company and tremendous business growth over the years with the help of IDLC's financing.
Citing importance of the SME as it contributes to the employment generation, economic activity and growth, Mr Abul Quasem praised the IDLC for its SME campaign that will help the entrepreneurs to know more about the SME services.
"We want that all the FIs provide SME loan in the areas beyond the cities like Dhaka, Narayanganj and Chittagong, and they act as friends of the customers," he said.
He further said that the customers now can get SME credit from the Shariah-based banks and other FIs under the Shariah principles.
Mr Selim R.F. Hussain said, "Developed countries recognised many years ago that employment generation and economic empowerment is best driven through the SME sector and, in Bangladesh, we cannot be different. We, at IDLC, are proud of our success in SME and will continue to commit ourselves in this important economic sector".
IDLC increased its percentage of the SME credit at its total portfolio from 7-8 per cent in 2006 to 43 per cent at present. "We are working with a plan to raise it to 50 per cent within 2020."
"We believe that rendering SME credit is a good and big business for us. That's why we started the SME financing with sufficient preparation to provide better services to the SME clients," Mr Hussain said.
The IDLC CEO further said that they have agreed with the BB to open at least two branches in the rural areas against one branch in the urban area from now.

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