Bank, financial institutions urged to treat entrepreneurs with respect

Small & Medium Enterprise Foundation's Managing Director Dr. Md. Mafizur Rahman has requested the bank and financial institution officials to behave better with the entrepreneurs when they go for a loan from incentives allocated for cottage, micro, small and medium enterprise (CMSME) sector.

He said, "Our entrepreneurs have complained of disrespect they faced while trying for the loans from the Tk100 crore incentives announced for the sector which is being disbursed through various banks and financial institutions.

He was delivering the welcome speech at the signing ceremony between the SME Foundation and 19 banks and financial institutions on Thursday afternoon at Agargaon SME Foundation building for disbursing Tk 200 crore loan for the CMSME sector .

Dr Rahman said, "Some entrepreneurs alleged that they were not treated respectfully by officials. The officials told the entrepreneurs that they couldn't talk properly, their clothes weren't appropriate. That is why when they go to the bank, they are ignored."

"We hope that our entrepreneurs, especially those from rural areas. will get better treatment from officials. Whether a loan is granted or not, they should be treated well."

Dr Md Masudur Rahman said, "Tk 100 crore reserved for the SME Foundation under the government's incentive package to offset the loss of Covid-19 have been disbursed. Of which, 33% have been given to women entrepreneurs. However, some banks have not treated the entrepreneurs well when they went there for this loan, especially in rural areas."

"The entrepreneurs said that they were asked for different papers at different times while taking loans. So this time we have said in the policy that all the requirements should be stated at the first time."

He said, "In some rural areas, the banks told the applicants that they did not know about this loan. They told the entrepreneurs that the head office knew about it, they should go to there for loan,"

Dr Rahman said, "This time, in the distribution of Tk 200 crore, the information about the distribution of loans has to be conveyed to all the branches. It should be taken seriously."

"Many entrepreneurs have complained that even after bank officials visiting their warehouses and shops repeatedly, loans were not sanctioned at the last minute. They say the time they spent was not worth it. This time, more importance should be given to this."

Planning Minister MA Mannan, State Minister for Industries Kamal Ahmed Majumder, State Minister for ICT Zunaid Ahmed Palak, Industries Secretary Zakia Sultana,  were present among others at the programme.

Senior officials from 15 banks and three financial institutions, including Ali Reza Iftekhar, managing director of Eastern Bank Ltd and managing director of commercial banks and chairman of ABB, an association of chief executives, were present on the occasion.