The Mutual Trust Bank (MTB) Limited and the IDLC Finance Limited have become the first-ever best SME bank and non-banking financial institution (NBFI) of the year for their contribution to development of small and medium enterprises (SMEs).
Four other banks and two NBFIs were also declared best institutions in different categories of the SME Banking Award 2014 at a ceremony, organised on the occasion of the SME Financing Fair at a city hotel on Wednesday.
Finance Minister Abul Maal Abdul Muhith handed over the awards to the managing directors and the SME heads of the respective banks and financial institutions. He praised the SME Foundation for introducing the award for the first time in its seven- year history.
He, however, recommended introducing award focusing on two more areas of the SME sector to cover new productivity, innovative SME and rural women entrepreneurs.
Addressing on the occasion, Bangladesh Bank Governor Atiur Rahman expressed his belief that the newly-introduced award would encourage other banks and bankers to work for the betterment of the SME sector.
He also urged banks and financial institution to give scope for SME sector development amid their need for profits.
Of the six banks which received the award, the Mutual Trust Bank Limited also won women entrepreneur-friendly bank of the year, the Krishi Bank the rural entrepreneur-friendly bank of the year, the Dhaka Bank Limited best manufacturing -friendly bank of the year, the Islami Bank Limited the best small entrepreneur-friendly bank of the year and the Eastern Bank Limited best structured SME bank of the year.
In other categories, the IDLC Finance Limited became the best women-friendly NBFI of the year, the Union Capital Limited the best small entrepreneur-friendly NBFI of the year and the Islamic Finance and Investment Limited the best manufacturing-friendly NBFI of the year.
The Bangladesh Bank and the SME Foundation have introduced the SME banking award for the first time to encourage banks and financial institutions to finance the SMEs which are the driving force of the economy.
From now the award will be given in five categories in banking sector and three categories in financial institutions.
The first-ever award was declared after scrutinising applications from 32 banks and nine NBFIs based on 100 marks. A seven-member jury board and 8-member scrutiny committee finalised the award winners from the participating banks and financial institutions
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