A Seminar titled “Bangabandhu’s thought on SME development and Present Perspective” organized by FBCCI on August 14, 2022.
Speaking as the Chief Guest, Industry Minister Mr. Nurul Majid Mahmud Humayun MP expressed his dissatisfaction regarding bank financing to SMEs. Generating profit by selling dollars is not the job of the banks-this is not ethical, the ministers said. “Government approved bank licenses with the condition to perform their commitment to the nation. They should not increase the disparity between rural and urban areas by financing only large conglomerates. Banks must play to ensure balanced development, the minister noted.
FBCCI President Mr. Md. Jashim Uddin said, SMEs are the backbone of the economy. However, banks are reluctant to finance them as they feel comfortable with large companies. Terming access to finance as the biggest challenge for SMEs, the president said, Prime Minister’s loan incentive package for large industries had been distributed in three months; in contrast incentives for SMEs have not been disbursed in two years.
FBCCI Senior Vice President Mr. Mostofa Azad Chowdhury Babu suggested establishing an SME bank to facilitate access to finance of the small and medium entrepreneurs.
FBCCI’s panel advisor and CPD’s research director Dr. Khandakar Golam Moazzem while delivering the keynote presentation at the seminar revealed that Commercial banks distribute 18% of their total disbursed loan to SMEs. Only 9% SMEs have access to bank finance and the rest 91% remains unbanked.
SME Foundation Chairman Dr. Md. Masudur Rahman complained that small and medium industries do not enjoy the same policy support as the large industries do.
Bengal Commercial Bank Ltd Managing Director Mr. Tarik Morshed, FBCCI Adviser Mr. Manzur Ahmed, Managing Director Dr. Md. Mofizur Rahman also spoke at the seminar.
Amongst others, FBCCI Vice Presidents Mr. Md. Amin Helaly, Mr. Md. Habib Ullah Dawn and directors of FBCCI were also present at the seminar.
FBCCI Secretary General Mr. Mohammad Mahfuzul Hoque moderated the seminar.