Microcredit plays vital role to create employment, sustainable development: BB governor

Bangladesh Bank Governor Fazle Kabir has said microcredit and other microfinance play a vital role towards generating employment and sustainable development in the country.

In addition to contributing to the economy, microcredit has become an important part of upholding the trend of elevating the country's GDP.

The governor was addressing a conference of Small and medium-sized enterprises (SME) entrepreneurs of Islami Bank Bangladesh Limited (IBBL) at a hotel in the city today as the chief guest.

Governor Fazley Kabir said the generation of employment through using the microcredit is a prime need for the country and called for spreading the credit throughout the country.

He also stressed the need for long-term financial services by every of the banks to the clients in general for the sake of substantial and sustainable expansion of the business sector.

Simultaneously, he urged the entrepreneurs to be attentive towards business promotion through payment of loans borrowed from the banks in due time.

Executive Director of Bangladesh Bank Zibon Krishna Roy spoke as special guest with IBBL Managing Director Monirul Maola in the chair.

In the daylong conference, the attending SME entrepreneurs also set up stalls for displaying their products.