The NRB Bank Ltd, a newly launched fourth generation bank, formally launched four separate SME products Saturday aiming to facilitate creation of entrepreneurs in the country.
The SME products are: NRB Young Entrepreneur, NRB Pashe, NRB Prerona and NRB Proshar that are designed with attractive features and targeting different segments of the small and medium enterprises (SMEs) and entrepreneurs, officials said.
Bangladesh Bank (BB) Deputy Governor Md Abul Quasem was the chief guest at the launching programme held at a city hotel.
Iqbal Ahmed OBE, chairman of the NRB Bank, Dr. Engr. Syed Md. Ihsanul Karim, Managing Director of the SME Foundation, and Muklesur Rahman
Managing Director and CEO of the NRB Bank, among others, addressed the ceremony.
Dr Toufic A Chowdhury of NRB Bank, presented a keynote paper on "Challenges and Future of SMEs" at the programme. The new bank started its operation on August 4 last year.
While expressing his dream about the bank, its chairman, Mr Iqbal Ahmed OBE, said they wanted to take the NRB Bank's services and standard to the better level than that of the foreign banks like Standard Chartered and HSBC operating in the country.
They (foreign banks) are doing business with the local employees and customers; the NRB Bank is choosing officials with better efficiency and expertise and investing sufficient in technology and human resources to materialize the vision, Mr Ahmed said.
"We already have created strong foundation of the bank," towards making it as a best bank in the future, he said.
Expressing significance of SME finance, Mr Ahmed shared his practical experience of working in a British government's initiative that held a lot of discussions on how to create entrepreneurs. But ultimately, it was derived that "the best way to create entrepreneurs is to help the SMEs)," he added.
In SME finance, the bank will focus on the rural-level SMEs led by the families especially the farmers, he said, adding that their rural branches will be effective in this connection.
He also suggested the branch managers to play their role as teachers for the SME entrepreneurs by helping them to find the way of their business instead of just calling upon to take loan.
Mr Abul Quasem thanked NRB Bank for launching the SME products and encouraged it to be member of the SME refinance scheme of the BB.
He also laid stress on disbursing the SME loan in all areas of the country instead of certain regions surrounding Dhaka to avoid disparity in the SME finance in different corners of the country.
"Without the vibrant SMEs, no country can be developed," Mr Quasem said.
SME Foundation in experiences and analysis found the finance as very essential for SME development, Mr Ihsanul Karim said and welcomed the NRB Bank for launching SME products.
It identified 177 SME clusters in the country, he added.
The SME Foundation MD also mentioned the necessity for support in policy, research, market development, training and IT for better development of the SME industry in the country.
