BRAC Bank leads CMSME Cluster Financing Workshop in Laxmipur to fuel growth
BRAC Bank, under Bangladesh Bank's guidance, has organized a CMSME Cluster Financing Workshop in Laxmipur to enhance financing to the growing industrial hubs.
As the lead bank, BRAC Bank hosted the event per Bangladesh Bank's directive. All banks operating in the district participated in the interactive event to enhance industry-bank collaboration, identify more clusters, and increase financing flow, reads a press release.
Arif Hossain Khan, Executive Director of Bangladesh Bank Chattogram Regional Office, attended the event as the chief guest. Syed Abdul Momen, Deputy Managing Director & Head of SME Banking; Alomgir Hossain, Head of Small Business (Central), SME Banking; Jamshed Ahmed Chowdhury, Regional Head, Distribution Network, BRAC Bank, and branch managers of different banks were present at the workshop held at a hotel in Laxmipur town on February 8, 2024.
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Representatives from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Bangladesh Small and Cottage Industries Corporation (BSCIC), and Agriculture Extension Office attended the workshop.
Bangladesh Bank has assigned different banks to host such workshops on cluster financing as lead banks in various districts throughout the year. BRAC Bank has become the lead bank in Laxmipur and Gaibandha.
Several industry clusters in Bangladesh generate significant industrial output, create employment and play a catalytic role in economic development. Pirojpur, Jashore and Khulna are home to cricket bat clusters, Dhaka, Chattogram, Bhairab, and Brahmanbaria are famous for leather clusters, Gaibandha and Pabna are renowned for hosiery, Tangail and Sirajganj for power loom and textiles, Bhairab for shoes, Satkhira for medical products, Bogura's Dhunot and Dupchanchia for blanket, Jashore and Bogura for light engineering and Moulvibazar for Agar-Atar industries.
Easy access to financing can help flourish CMSME industries in different industrial clusters in the country. Collaboration among government bodies, entrepreneurs and banks can uplift clusters and allow them to contribute significantly to the manufacturing sector and national development.
