• Wednesday, Oct 28, 2020
  • Last Update : 02:16 am

Disbursing stimulus funds for CMSMEs: BB increases monitoring

  • Published at 09:21 pm September 21st, 2020
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SMEs are an important arm of economic growth Mehedi Hasan/Dhaka Tribune

The banks will have to submit a summary report, as per the format prescribed by the central bank

The Bangladesh Bank has increased its monitoring on disbursement of loans under the Tk20,000 crore stimulus package meant for cottage, micro, small and medium enterprises (CMSMEs).

As part of the move, the central bank on Monday asked all scheduled banks to report on a weekly basis on disbursement of loans under the Tk20,000-crore stimulus package for entrepreneurs.

A BB circular issued in this regard said that the weekly reporting on disbursement was introduced with a view to observe the situation more closely.

The banks will have to submit a summary report, as per the format prescribed by the central bank.

Besides the weekly reporting, a monthly summary report on approved and disbursed loans will also have to be submitted to the central bank within five days of the following month.

An official of the central bank said that the slow disbursement of loans to the CMSMEs from the stimulus package has prompted the BB to introduce the initiative.

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