this year. Same time last year, a total of 26,892 new entrepreneurs had received loans from banks and non-bank financial institutions (NBFIs). The amount of loan disbursed among the new entrepreneurs also jumped by 19.58 percent, the central bank said. Meanwhile, Bangladesh Bank Wednesday won a prestigious award from the Alliance for Financial Inclusion (AFI) for its outstanding achievements in the SME sector in Bangladesh. AFI is a global network of financial policymakers from developing and emerging countries; working together to increase access to financial services for the poor. In a statement issued on Thursday, the AFI has recognised the “target-based SME lending” policy interventions of Bangladesh Bank as an international best practice for SME financing, Bangladesh Bank officials said. The AFI has also nominated Bangladesh Bank as the chairman of a sub-committee for preparing global SME finance policy glossary or dictionary. The sixth global policy forum (GPF) of AFI was held on September 9-11 at Port of Spain in Trinidad. Sources in the SME department said the central bank has been pursuing banks and NBFIs since 2010 to promote SMEs with the objective to create more entrepreneurs across the country. To attain this objective, the central bank has also opened several re-finance windows to encourage banks and NBFIs to increase credit flow to the SME sector, said the source. Sources said the central bank’s target of disbursement of SME credit has been set at Tk 89,030 crore for the year 2014. During the first six months, banks and NBFIs disbursed a total of Tk 47,130 crore in loans among a total of 261,651 SME entrepreneurs, including 33,469 new entrepreneurs and 14,838 women entrepreneurs, according to central bank sources. Of the total SME credit disbursed during the January-June period, the highest 62.73 percent went to trade, followed by 27.45 percent to industries and 7.82 percent to the service sub-sectors, the BB says. The central bank claimed that 80 percent loan-recipients were small entrepreneurs. The BB said the SME sector’s contribution to GDP is about 30-35 percent. Around 25 percent of total workforce of Bangladesh belongs to the SME sector. In industries, 80 percent workforce belongs to the SMEs. All banks and NBFIs have disbursed a total of Tk 2, 85,000 crore as loans to the SME sector since 2010.
Friday, September 12, 2014
SME entrepreneurship soars by 24 pc:Daily Sun
this year. Same time last year, a total of 26,892 new entrepreneurs had received loans from banks and non-bank financial institutions (NBFIs). The amount of loan disbursed among the new entrepreneurs also jumped by 19.58 percent, the central bank said. Meanwhile, Bangladesh Bank Wednesday won a prestigious award from the Alliance for Financial Inclusion (AFI) for its outstanding achievements in the SME sector in Bangladesh. AFI is a global network of financial policymakers from developing and emerging countries; working together to increase access to financial services for the poor. In a statement issued on Thursday, the AFI has recognised the “target-based SME lending” policy interventions of Bangladesh Bank as an international best practice for SME financing, Bangladesh Bank officials said. The AFI has also nominated Bangladesh Bank as the chairman of a sub-committee for preparing global SME finance policy glossary or dictionary. The sixth global policy forum (GPF) of AFI was held on September 9-11 at Port of Spain in Trinidad. Sources in the SME department said the central bank has been pursuing banks and NBFIs since 2010 to promote SMEs with the objective to create more entrepreneurs across the country. To attain this objective, the central bank has also opened several re-finance windows to encourage banks and NBFIs to increase credit flow to the SME sector, said the source. Sources said the central bank’s target of disbursement of SME credit has been set at Tk 89,030 crore for the year 2014. During the first six months, banks and NBFIs disbursed a total of Tk 47,130 crore in loans among a total of 261,651 SME entrepreneurs, including 33,469 new entrepreneurs and 14,838 women entrepreneurs, according to central bank sources. Of the total SME credit disbursed during the January-June period, the highest 62.73 percent went to trade, followed by 27.45 percent to industries and 7.82 percent to the service sub-sectors, the BB says. The central bank claimed that 80 percent loan-recipients were small entrepreneurs. The BB said the SME sector’s contribution to GDP is about 30-35 percent. Around 25 percent of total workforce of Bangladesh belongs to the SME sector. In industries, 80 percent workforce belongs to the SMEs. All banks and NBFIs have disbursed a total of Tk 2, 85,000 crore as loans to the SME sector since 2010.
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