The central bank will guarantee small loans
Guarantee scheme is being introduced for cottage, micro, small and medium enterprise (CMSME) loans. The central bank has taken this initiative to boost the economy by increasing loans in this sector.
Banks are expected to increase their interest in lending to the CMSME sector due to the assurance of Bangladesh Bank. Because, if the loan is not recovered, the central bank will compensate. In addition, the regulator has plans to provide security reserves against these loans.
Bangladesh Bank has already sent a letter to the Finance Ministry asking for Tk 250 crore for setting up the scheme. Discussions are also underway to get কোটি 300 million assistance from the World Bank. However, if the government does not provide the money in the end, the central bank wants to form the scheme on its own. Such guarantee schemes are in operation in various countries, including neighboring India.
If you want to know the executive director of Bangladesh Bank Abu Farah. Nasser
"We hope to launch the scheme from next September," he said. Our goal is to reach the marginal level and reach the small borrowers. '
Southeast Bank is one of the top lenders in this sector. The bank's managing director (MD) Kamal Hossain said the scheme would act as a bulwark for banks. Banks will feel much safer to lend, which will propel the country's SME sector forward. Such an initiative is very important in the current situation.
It is learned that the central bank had prepared a draft policy for this scheme. There it is proposed to deposit 2 per cent in the scheme against the loan. The banks did not agree. Banks offer to collect from the customer at the rate of 50 percent against the loan. Now the central bank is working to finalize the draft policy by revising it.