INSPIRED (Integrated Support to Poverty and Inequality Reduction through Enterprise Development), in partnership with Bangladesh Bank Training Academy (BBTA) and Bangladesh Institute of Bank Management (BIBM), organised a series of SME banking seminars titled 'SME Loan Business Process Re-engineering' for senior management of commercial banks and non-banks held Saturday at the BBTA auditorium in the city.
"The objective of the seminars in general is to create awareness for senior management of the needed changes in the financial institutions in order to facilitate further dissemination of SME banking, and to make SME banking less risky and more profitable for the institutions," said a press statement.
The seminar tried to encourage banks to decide and implement an SME loan business process re-engineering (BPR) project through simplification of the loan approval process aiming at facilitation of profitability of SME banking and enhanced customer service.
The seminar explored the fundamental review of the banks' SME loan processes in order to achieve strong improvement of quality of service, speed of application assessment and decision-making and cost effectiveness of the procedures.
Next to offering a practical methodology to implement BPR, the seminar evaluated the present situation and considered various enhancements, which seem needed and can be implemented by applying the BPR approach.
The expected outcome is a substantial cost reduction through eliminating unnecessary non-value added activities, avoiding duplication works, elimination of documents and using templates and formats, etc, which will make SME lending profitable and attractive for banks.
Executive Director of BBTA Md Ataur Rahman and Director General of BIBM Prof Dr Toufic Ahmad Choudhury delivered the welcome speeches.
INSPIRED is managed by the ministry of industries. With a budget of €19 million provided by the European Union, INSPIRED aims at improving the competitiveness of SMEs on local and international markets.
It also seeks to update and operationalise the national strategy for SME development, streamline SME regulations, improve SME access to affordable finance, and enhance support services provided by Business Intermediary Organisations (BIOs).
