Home ›› 29 Dec 2021 ›› Front
The Bangladesh Bank on Tuesday awarded Letter of Appreciations to 13 banks and four non-bank financial institutions for their outstanding roles in disbursement of stimulus loans to cottage, micro, small and medium enterprises (CMSMEs).
The banks are United Commercial Bank, BRAC Bank, Agrani Bank, Uttara Bank, Premier Bank, Bank Asia, Mutual Trust Bank, Eastern Bank, Prime Bank, Bangladesh Krishi Bank, Modhumoti Bank, Rajshahi Krishi Unnayan Bank and Commercial Bank of Ceylon.
The Financial Institutions include IDLC Finance Ltd, IPDC, Lanka Bangla Finance Ltd and United Finance Ltd.
A meeting of the Bankers meeting selected the companies. The meeting was presided over by Bangladesh Bank Governor Fazle Kabir.
“A total of 13 banks and four NBFIs were given the letter of appreciation for their outstanding roles in disbursing loans to CMSMEs,” Sirajul Islam, Executive Director, BB, told The Business Post.
Earlier Banks and financial institutions failed to speed up the loan disbursement from the second stimulus package meant for the cottage, micro, small and medium enterprises (CMSMEs), he said, adding that most CMSME borrowers who are yet to recover from the pandemic shock failed to repay their previous loans.
The bankers, however, say high operational costs are behind the reasons for their slow disbursement.
Meanwhile, after the expiry of the first round of stimulus loans in June this year, the Bangladesh Bank announced another Tk 20,000 crore for the current fiscal year. The latest stimulus programme is expected to continue for three years.
A recent Bangladesh Bank data shows that from July to December 21, 52 banks and non-bank financial institutions lent Tk 4,136 crore out to 28,303 CMSME customers. The figure is 21 per cent of the total stimulus package.
