Give SMEs easy access to finance: DCCI
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Monday
January 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
MONDAY, JANUARY 30, 2023
Give SMEs easy access to finance: DCCI

Industry

TBS Report
29 July, 2020, 11:35 pm
Last modified: 30 July, 2020, 11:24 am

Related News

  • High paid-up capital for OPCs hampering SME growth: BUILD
  • 14 Bangladeshi SMEs to exhibit jute products at a New York trade show on 5-8 February
  • Local laws need amendment to enforce contracts, resolve disputes quickly: DCCI
  • SMEs to suffer more due to gas price hike
  • SME index jumps amid 131% turnover boost

Give SMEs easy access to finance: DCCI

Dhaka Chamber of Commerce & Industry calls for making loan process easier so that SME stimuluses can be disbursed promptly

TBS Report
29 July, 2020, 11:35 pm
Last modified: 30 July, 2020, 11:24 am
Give SMEs easy access to finance: DCCI

The small and medium enterprises (SMEs) are yet to get required assistance from the government announced stimulus packages to tackle coronavirus fallout. Loan processes need an immediate simplification as those are often prompting procrastination against the backdrop of the ongoing crisis.

Discussants said this Wednesday while addressing a webinar organised by the Dhaka Chamber of Commerce & Industry (DCCI).

The programme titled "Financing the Cottage, Micro, Small & Medium Entrepreneurs and Alleviating the Virus Situation" also advocated for including the Bangladesh Small and Cottage Industries Corporation (BSCIC), SME Foundation and Palli Karma-Sahayak Foundation (PKSF) in the loan disbursement process.         

DCCI President Shams Mahmud said the SMEs are playing an important role in employment generation and GDP growth.

He said, "The SMEs were affected by the pandemic like other sectors and the government has announced Tk20,000 crore in stimulus to salvage the small businesses. But the entrepreneurs are facing challenges both in availing the assistance and getting required information."   

Referring to a survey, DCCI Senior Vice President NKA Mobin said that 59 percent of SMEs believe borrowing from banks is complicated.

He said, "Contribution of SMEs to the country's GDP amounts to 25 percent while the sector alone generates 35.5 percent of total employment. Small businesses contribute 75-80 percent of total export."       

The DCCI senior vice president said the pandemic slashed 35 percent of sales of the small businesses, and more than 62 percent of entrepreneurs were no longer able to pay salaries to their staff.      

He called for making the loans from the stimulus packages simple and speeding up the loan disbursement process for the small firms.       

Bangladesh Bank Executive Director Abu Farah Md Naser joined the programme as the chief guest. He asked the banks to examine borrowing capacity of the entrepreneurs.

Besides, he urged the SMEs to give more emphasis on supply chain management for marketing.       

Naser also assured that they would consider whether the assistance from stimulus -- meant for working capital -- could be disbursed as term loan.

BSCIC General Manager Akhil Ranjan Tarafder said only 28 percent of SMEs avail bank loans and the banks should be cooperative to raise the borrowing rate.

SME Foundation General Manager Md Nazeem Hassan Satter said the foundation was formulating a guideline for SMEs who would borrow from the stimulus.

He also suggested the small businesses apply for collective loan.   

Industries ministry Joint Secretary Ferdousi Begum recommended strengthening monitoring of the central bank so that the SMEs can avail government assistance. 

During the open discussion, SME Banking Head of Brac Bank Syed Abdul Momen said defining SMEs according to their trading is problematic for lending.

He believes the definition needs correction.

Mutual Trust Bank's SME Banking Head Sanjeeb Kumar Dey said they had set the target to disburse Tk301 crore from the stimulus package, and hopefully would be able to achieve the goal by next December.          

Dutch-Bangla Bank Executive Vice President Anwar Faruq Talukder said their lending target under the stimulus package was set at Tk340 crore. 

Exim Bank Additional Deputy Managing Director Sheik Moyeen Uddin, Krishi Bank Additional Managing Director Md Afzal Karim, Prime Bank SME Banking Head Syed M Omar Tayub and One Bank SME Banking Head Kamrul Islam, among others, took part in the open discussion. 

Economy / Top News

DCCI / SME

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Collected
    Economic slump drags down growth in VAT collection from big cos
  • It's corruption that bites business harder: CPD
    It's corruption that bites business harder: CPD
  • Photo: Masum Billah/TBS
    How the Padma Bridge motorbike ban spawned a new business

MOST VIEWED

  • Toy makers seek dedicated zone, govt support
    Toy makers seek dedicated zone, govt support
  • Mechanisation vital for commercialising agriculture: Minister
    Mechanisation vital for commercialising agriculture: Minister
  • Manufacturers feel the pinch as consumers tighten belt
    Manufacturers feel the pinch as consumers tighten belt
  • Illustration: TBS
    Commerce ministry to continue advocacy for simplification of business registration process: Minister
  • Looking ahead for SMEs
    Looking ahead for SMEs
  • Once booming steel industry now in deep stress
    Once booming steel industry now in deep stress

Related News

  • High paid-up capital for OPCs hampering SME growth: BUILD
  • 14 Bangladeshi SMEs to exhibit jute products at a New York trade show on 5-8 February
  • Local laws need amendment to enforce contracts, resolve disputes quickly: DCCI
  • SMEs to suffer more due to gas price hike
  • SME index jumps amid 131% turnover boost

Features

Photo: Courtesy

The Hawkers: Where minimalism meets motifs

1h | Brands
Illustration: TBS

Where do Shariah-compliant mutual funds stand in Bangladesh

35m | Panorama
Sketch: TBS

A subsidy war without winners

25m | Panorama
Photo: Collected

Oppo Reno 8T first look revealed!

1h | Brands

More Videos from TBS

Sarika Sabrin is waiting for a good film

Sarika Sabrin is waiting for a good film

16h | TBS Entertainment
Take your football game to the next level at Next Level academy

Take your football game to the next level at Next Level academy

17h | TBS SPORTS
“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

18h | TBS Round Table
What does Shahrukh has in his 770 million dollar property?

What does Shahrukh has in his 770 million dollar property?

1d | TBS Entertainment

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]