The central bank has directed the banks and other financial institutions to distribute these loans more effectively. “It can be seen that the banks and other financial institutions have failed to produce the expected pace of credit disbursement in the CMSME sector. Therefore, constant supervision is needed to effectively distribute loans in this sector,” the central bank said in a statement. The Bangladesh Bank, which will finance half of the CMSME package, published a policy on Apr 13 laying out how the loan would be distributed among banks and financial institutions. “We must remember that turning the economy around would not be possible if the CMSME sector does not recover.

Source: bd News24 June 22, 2020 15:22 UTC