Regulatory Alerts2008-05-04
Added · Updated
Introduction of SME Service Centres for loan disbursement and recovery in the Small and Medium Enterprise sector
Bangladesh Bank permits scheduled banks to open SME Service Centres to handle loan applications, disbursement, monitoring, and recovery for the Small and Medium Enterprise sector. These centres are authorized to receive foreign remittances and convert them to domestic currency, and may establish dedicated desks for women entrepreneurs. Banks must apply to the Banking Regulation and Policy Department to open a limited number of these centres in areas where the bank currently has no branches. Applications for the 2008 fiscal year must be submitted by 15 June 2008, while applications for 2009 must be included with the annual branch opening applications.