Bangladesh Dokan Malik Samity (BDMS) has demanded that the Bangladesh Bank (BB) withdraw 1 per cent supervision charge on the CMSME loan imposed by the central bank on June 19.
“This charge can result in increased indebtedness among the entrepreneurs involved in the small and medium enterprise sector, putting economic pressure on them,” said BDMS president Md Helal Uddin while speaking at a press conference organised by the association at its Moghbazar office in the capital on Sunday.
BDMS Secretary General Zahirul Haque Bhuiyan and other leaders of the organisation were also present at the event.
The Banking Regulation and Policy Department (BRPD) of Bangladesh Bank has slapped the supervision charge in the Cottage, Micro, Small and Medium Enterprises (CMSME) sector and consumer credit.
Helal Uddin, also a former vice-president of FBCCI, said, "Amid the economic crisis, small businessmen in the CMSME sector are struggling to sustain their businesses through bank loans. At such a critical time for businesses, the Bangladesh Bank has increased the interest rate from 9 per cent to 10.10 per cent."
Currently, the food inflation in Bangladesh has risen to 12.5 per cent, resulting in the price hikes of products. Imposing an additional 1 per cent supervision charge during such a financial crisis is a blow to traders involved in this sector, he added.
He further pointed out that the CMSME sector is defined with a credit limit of Tk 75 crore. “If a businessman takes out a loan of this amount, it will be 75 lakh after deducting 1 per cent supervision charge.”
Due to the Covid-19 pandemic followed by Russia-Ukraine war, the global economy has been facing serious headwinds for nearly four years, he said.
"We have sent a letter to the central bank governor on behalf of BDMS, requesting him to withdraw the circular and take necessary measures to return the deducted money to the accounts of all traders. However, we do not know if any initiative has been taken in this regard so far."
In this situation, he demanded that the supervision charge be withdrawn and refunded by October 15. “If not, businesspeople involved in the CMSME sector will announce their next course of action for the sake of their livelihoods,” he warned.
