Rezaul Haque, 45, has installed a commercial fish farming on 95 bighas of water bodies at Sundarpur, Paba Upazila.
After getting training from the Department of Fisheries and the Department of Youth Development, Rezaul had initiated the fish farming business around twenty years ago.
“Initially, I got a loan of worth Tk50,000 from the Rajshahi branch of Karmasangsthan Bank,” said Rezaul, adding that he also received financial support from both the Department of Fisheries and the Department of Youth Development.
At present, his investment has accumulated to over Tk1 crore.
“I had to learn the nature of the business in the first 15 years. But I have been continuously getting success since the last five years,” Rezaul explained.
His yearly income now stands at Tk10 lakh. The fish farms he started with the bank loans have brought him financial stability.
Rezaul’s success inspired many others to enter the fish farming business in the area, contributing to meeting the gradually mounting protein demands in the country.
Borhan Uddin, 42, another fish farmer of Bagsara village in the same upazila, has invested Tk75 lakh on 75 bighas of water body after borrowing money from the Karmasangsthan Bank.
His investment is expected increase to Tk1 crore by next year. Speaking to BSS, the entrepreneur said no alternatives to enhancing investment exist other than taking bank loans.
Shahajahan Ali, 35, owner of Juthi Bostraloy in Nawhata Municipality Market, said he is running his business with credit support from the state-owned bank since the last decade.
Mokbul Hossain, 46, owner of Mehedi Shoe store at the same market, said he has expanded his business with credit support. "I repay my loan installments regularly," he added.
These entrepreneurs are among 20,000 others who have built their fortune with loan support from the bank, contributing to economic development of the region.
Mizanur Rahman, branch manager of Karmasangsthan Bank, said that many promising youths have become successful entrepreneurs after availing loans from the bank. He attributed this success to proper evaluation before approving the loan, and intensive surveillance after disbursement.
“We have disbursed loans worth Tk211.88 crore among 20,936 entrepreneurs in 24 commercial sectors in Rajshahi and Chapainawabganj districts till December 2018, in the last 20 years,” said Saleh Muhammad Sirajul Salekin, Regional Manager of Karmasangsthan Bank.
"Our loan recovery rate is over 90%, and the amount of deposit collection is more than Tk33 crore," he added.
The beneficiaries get services of the bank through its six branches in Rajshahi and two branches in Chapainawabganj.
Sirajul added that the entrepreneurs succeeded in various business fields including fisheries, livestock, and small and cottage industries.
He further mentioned that 10,011 livestock farmers achieved significant success in the two districts, who were disbursed loans worth Tk109 crore—which is 52% of total regional disbursement of the bank.
Moreover, 1,155 fish farmers got loans worth Tk17 crore, 1,625 dairy farmers received Tk15 crore, 1,586 small traders got Tk11.58 crore, 74 furniture traders received Tk5.41 crore, 675 tailors got Tk5 crore, 365 poultry farmers and 608 pharmaceuticals traders got Tk4 crore each, and 225 handicraftsmen received loans worth Tk1.91 crore loan.
