Around 8 million of the local trades are conducting their business in the cottage, micro, small and medium enterprise (CMSME) who are facing many obstacles in getting loan to develop their business.
Under the CMSME, half of the country’s workforce is involved, which contributes 25 percent of the gross domestic product (GDP). If this sector can be developed with proper financing it would contribute more in the country’s GDP. Experts made this opinion at a seminar titled “Digital Financial Services: Innovative Techniques in Developing and Bank Management” organised by the Bangladesh Bank in co-operation with IPDC Finance Ltd at Bangladesh Institute of Bank Management (BIBM) auditorium in the capital on Saturday.
bkash CEO Sheik Md Monirul Islam presented his article at the programme while General Manager of Bangladesh Bank Lila Rashid presided over the evnet. At the seminar, they highlighted on the solutions to this problem. They said, money crisis for CMSME entrepreneurs, lack of evolution of digital economic service, glitch in control-structure and how the entrepreneurs can be taken ahead discussed in details.
Mominul Islam, Managing Director and CEO of IPDC Finance Ltd, said, “ We haven’t reached the stage of incorporating required amount of technology in CMSME sector. Digital netwroking should be taken far ahead for that. Trade license is a big problem on the way before the CMSME entreprenuers to get loan. If this problem is checked, they would get loans very easily.”
Bangladesh Bank General Manager Md Mejbaul Haque said, “ The use of digital technology solves problems of money crisis among entreprenuers, problems in innovation at digital financial service, and glitch at control structure. Bangladesh Bank is already working with CMSME in four sectors. We hope, we will work so that the entrprenuers can avail loan from thei home.”
DBBL- SEVP and COO Abedur Rahman Sikder and SSL Wireless LTd Director and CEO Ashish Chakrabarty were also present as speakers in the seminar. At the end of the seminar there was a question-answer session between the speakers and entreprenuers.
