Diversify loan policy of banks, FIs for marginalised SMEs

Speakers at a meeting on Thursday underscored the need of diversifying SME loan policy of banks and financial institutions (FIs) and making those inclusive to keep a place for the marginalised groups among SMEs.

They said banks and FIs copy one another for designing loans, they do not innovate new products for SMEs.

At the inaugural ceremony of an SME fair, they urged the small and medium enterprises (SMEs) to be sustainable and responsible producers and trace components of production to make everyone accountable in the supply chain.

They also urged the producers to research and study to improve the products regularly.

Speakers made the remarks at the inaugural ceremony of the 3-day MIDAS AUTUMN SME FAIR 2024 at the MIDAS office in the city, located at MIDAS Centre (12th Floor), Plot-5, Road-16 (Old 27), Dhanmondi, Dhaka.

MIDAS is organising the 3-day fair set to be held from Thursday to Saturday and the Standard Chartered Bank is participating as the main sponsor. The fair was inaugurated by MIDAS Board Director Parveen Mahmud FCA (Fellow Chartered Accountant).

Abdul Karim, chairman of MIDAS Financing, Bitopi Das Chowdhury, country head, corporate affairs of brand & marketing, Standard Chartered Bangladesh, Ali Sabet, CMSE banking specialist and team leader of SPCSSEC Project of Bangladesh Bank, and Bibi Russell, internationally reputed fashion designer, were also present as special guests.

In addition, Khairul Bashar, managing director of MIDAS, Md. Ibrahim Hossain, assistant general Manager of MIDAS, senior government officials, representatives of NGOs and private organisations and other guests were present at the inauguration programme.

About 72 women and youth entrepreneurs are exhibiting and selling clothes, jewellery and other attractive products at the fair.

The fair will remain open to all from 10 am to 9 pm every day.

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