Senior bank officials at a seminar in the city on Monday stressed introducing a credit scoring for small and medium enterprise sector in a bid to improve its operational efficiency.
They observed that a scoring model on SME loans will enable quick disbursement of finance and accelerate the growth of the country’s SME sector, now contributing about 25 per cent of the gross domestic product.
The seminar ‘SME Credit Scoring’ was jointly organised by industries ministry, Bangladesh Bank Training Academy, Bangladesh Institute of Bank Management at a city hotel.
The seminar is a component of the integrated support to poverty and inequality reduction through enterprise development (Inspired project), funded by the European Union.
Bangladesh Bank deputy governor SK Sur Chowdhury said introduction of the SME credit scoring would create a scope for objective validation of projects and increase the confidence of financial institutions for disbursing loans in the sector.
‘As the sector is geographically widely distributed across the country, the growth of the SMEs, by default, will ensure an inclusive growth of the economy, and also the broad-base financial inclusion,’ he said.
Presided over by Inspired project deputy project director AKM Rafiqul Islam, the inauguration was also addressed by BB banking supervision adviser Glen Tasky and Inspired Project team leader (Component 3) Ali Sabet.
-With New Age input
