Structural reforms are needed for easy loan disbursement for the Cottage, Micro, Small and Medium Enterprises (CMSMEs), speakers said at a webinar today.
SME Foundation and Dhaka Chamber of Commerce & Industry (DCCI) organised the event on “Procedures of availing loan from SME stimulus package”.
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They said less documentation process, establishing a specialized SME bank, a comprehensive SME database, policy reforms will pave the CMSMEs to flourish as the sector is the lifeline of our economy.
“The medium enterprises have good relationships with banks in compared to small entrepreneurs because of lack of documentation and confidence. A CMSME friendly fund and easy access to the loan management system is the demand of time now,” said Rizwan Rahman, president of DCCI.
He also said if Bangladesh Bank can give a guideline to the banks that they have to disburse a specific amount of loan to the CMSMEs then banks will have to comply with it.
“SME entrepreneurs’ capacity building is more important for financial inclusion. And they need more training for financial literacy. Framework reforms for the loan needed,” said Masudur Rahman, chairperson of SME Foundation.
Saifuddowla Shamim, head of SME at IDLC Finance, said, “SME entrepreneurs in the country are more than 80 lakh who needed to give financial literacy for the CMSME sector. We have already trained 700 women entrepreneurs.”