Private banks now encouraging woman entrepreneurship

Md Mazadul Hoque The country's private banks are now putting more attention on woman entrepreneurs aiming to bring back the glory of traditional hand-made products which would increase foreign exchange income, the bankers said. The bankers also said if hidden woman entrepreneurs across the country are discovered, the country's economy will be stronger soon as small-scale industries can also boost export volume. "As Bangladesh Bank (BB) has asked all banks to disburse 10 per cent to 15 per cent of their SME loans among women who are connected with small-scale business or production, we are now looking forward to discovering woman entrepreneurs", the bankers said. Social Islami Bank Ltd (SIBL) is now increasing its activity to attract woman entrepreneurs. Deputy Managing Director of the bank AMM Farhad told the FE: "for empowerment and development of women we are committed to standing by the entrepreneurs who are still away from banking transaction". Woman entrepreneurship desks have already been opened in all branches of banks from where women are encouraged to take loans and invest in potential sectors, Mr Farhad said. "We are also helping the entrepreneurs to prepare projects", he said. The woman entrepreneurs would be given collateral-free loans so that they could achieve progress within a short time, Mr Farhad also said. Islami Bank Bangladesh Limited, country's first Shariah-based bank, has undertaken a good number of initiatives for woman entrepreneurship across the country starting from the new year (2012). Head of SME department at the bank Nazrul Islam Khan told the FE: The number of woman entrepreneurs in current year has increased by 23 per cent compared to the last year and this growth would be intensified in coming years. The 100-day training programme of the bank at district-level branches from January 1, 2012 has been arranged for the entrepreneurs who would gain knowledge about benefits of loans, Mr Khan said. Mercantile Bank is also welcoming the woman entrepreneur. Deputy Managing Director of the bank Monindra Kumar Nath told the FE: "We are trying utmost to disburse loans among woman entrepreneurs in the country. "We have also planned to go to unbanked areas to disburse loans among women where they are making hand-made export-oriented products", Mr Nath said. The bank would help woman entrepreneurs in unbanked areas in the country through newly-launched mobile banking where bank branches are absent, Mr Nath said further.