DHAKA, Aug 18, 2020 (BSS) – Business Initiative Leading Development
(BUILD) today underscored the need for quick and hassle free loan processing
system for private sector, flexibility in distribution condition so that
banks find it easy, increase the loan repayment period for the Cottage,
Micro, Small and Medium Enterprises (CMSMEs).
BUILD today made the call at its 8th Financial Sector Development
Working Committee (FSDWC) meeting took place via online platform Zoom, said a
press release.
The meeting was co-chaired by Ahmed Jamal, Deputy Governor, Bangladesh
Bank and Shams Mahmud, President of Dhaka Chamber of Commerce and Industry.
Abul Kasem Khan, Chairperson of BUILD, was also present at the meeting.
Ferdaus Ara Begum, CEO, BUILD delivered the keynote presentation titled
“Stimulus Packages (SPs) for Large and CMSMEs- Reforms for Better Utilization
for Recovery from COVID-19”.
Ahmed Jamal said that Taka 18,500 crore has been disbursed under the
working capital loan stimulus package of the large industries and service
sectors.
He asked banks to disburse the entire amount under the stimulus package
of CMSMEs within October, 2020. He urged BUILD to send all the
recommendations and the decision of the meeting soon to the Bangladesh Bank
for further advancement.
Ferdaus Ara Begum focused on the recent UNIDO-BUILD survey findings
which show that CMSMEs are in worse situation compared to the large
enterprises.
She hailed Bangladesh Bank for extending all supports and issuance of
number of circulars for easing the process.
She called for a strong database of the COVID-19 affected enterprises
and an SME census underscoring the need for increasing the scope of Taka 3000
crore stimulus for reaching the cottage and micro businesses.
Agent banking and cluster based targeting approach to reach the CMSMEs
with financing assistance can be an alternative, she added.
Shams Mahmud urged the Bangladesh Bank to consider CSMES and respond to
the pandemic with private sector friendly policies.