Syed Abdul Momen: The CMSME sector suffered the most due to Corona. Almost all the businesses in the sector were on the verge of closure due to the shutdown of supply system across the country and nationwide lockdown. Institutions began to turn around again after the outbreak of corona subsided. Apart from this, CMSME business gets necessary working capital assistance as a result of government incentive package and other benefits. In this, CMSME sector is running the business with new initiative by cutting the loss of corona.Syed Abdul Momen: The government has set up a fund of Tk 20,000 crore to provide low interest loans to entrepreneurs in this sector. From this fund, all the banks and non-bank financial institutions of the country provide loans to the affected CMSMEs as working capital for business recovery. The highest number of CMSME companies in the country is in the trading sector. But due to the lowest allocation for the trading sector, it was not possible to provide loans to all the institutions in this sector as per the instructions of Bangladesh Bank.Syed Abdul Momen: The role of CMSME sector in the economic development of Bangladesh is immense. At present 90 percent of the country’s businesses are in this sector. The sector is directly contributing to the creation of about 75% of the country’s employment. The main goal of the CMSME sector is to improve the quality of life, create employment and alleviate poverty. This sector contributes about 25 percent to the overall GDP of the country. The overall management of the government and the country is satisfactory in the development of this sector.Syed Abdul Momen: About 52% of BRAC Bank’s loans have been disbursed to the CMSME sector. Since its inception, we have lent more than Tk 1 lakh crore to more than 1 million CMSME customers. As a CMSME-friendly bank, BRAC Bank’s main objective is to provide financial benefits to these customers. At present, a total of 3 lakh 95 thousand CMSME customers are availing banking facilities at BRAC Bank. Of which, loan facility of 1 lakh 64 thousand customers is running. At the end of last May, the loan disbursement in this sector was about 16 thousand crore. Apart from this, BRAC Bank is also playing a leading role in conducting foreign trade activities of SME customers.
Category: BUSINESS
Not in e-commerce, this time digital transactions will be in the sacrificial animal market. Vendors will be able to receive money from animal sales through bank accounts and mobile banking services. They will have a Point of Sales (POS) device to receive money from the sale of animals. Through which buyers will be able to pay the sale price with debit and credit cards. Dealers do not have to pay any fee to withdraw money from the sale of cows.
As part of a pilot project called ‘Smart Bangladesh Smart Hat’, the transaction facility is being launched at six cattle markets of Dhaka North City Corporation. As a result, buyers and sellers of these markets will not have to worry about carrying money. This is the first experimental initiative taken by Bangladesh Bank to popularize digital transactions. The Ministry of Fisheries and Livestock, Dhaka North City Corporation (DNCC) and Bangladesh Dairy Farmers Association are cooperating in this.
Relevant sources said that digital transaction booths will be set up at Gabtali, Bochila, Aftabnagar, Bhatara, Uttara and Kawla cattle markets under DNCC. The booths will be operated by Bank Asia, BRAC Bank, Eastern Bank, Islami Bank, Mutual Trust Bank, The City Bank and Mobile Financial Services (MFS).
Buyers will be able to pay for the sacrificial animal using debit and credit cards, MFS and mobile apps at the booth. Banks and MFS institutions will assist both buyers and sellers in this regard. Through this, the central bank thinks that it will be possible to prevent the risk of cash transactions and counterfeit money in the cattle market.
From next Sunday, banks and MFS companies will start setting up booths at the said market. Initially, they will open accounts to bring livestock traders from different parts of the country under this program. Big traders will be given POS machines to receive money.
In recent times, after the global pandemic has left us hanging on a cliff people started to hop on the new trend, which can be called Startups. Startups are not a new topic but it is definitely a hot one in a few years. People now want to be self secure rather than be dependent on some company and rightly so because during the pandemic there were hundreds and thousands of people who lost their jobs during testing times. The youth around the world is now inspired by the word Entrepreneur and they have quickly jumped on this trend too. But life is not a bed of roses and if you want to enjoy the fruit you have to work harder for it. There needs to be precise calculations and risk analysis before starting with any work and surely being an entrepreneur is one of them. You are now your own boss but you have a team under you. Few people around the globe have beautifully executed their plan of startup and they are now the most promising startups out there.
The founders have worked for startups in the region like Careem, Rocket Internet, Daraz, Foodpanda, and Shopistan. Through its b2b software, Retail offers a wealth of options for running a business. It provides store owners with market-competitive prices that help them maintain a steady and optimal inventory level.
Spacemaker
Founded out of Oslo in 2016, the AI-based company has gathered $25 million in funding from investors Atomico. Spacemaker intends to design sustainable infrastructure that may help businesses thrive while reducing pollution. It is one of the United Nations’ millennium development goals.
Infrastructure designers can hire Spacemaker to help them figure out the best ways to increase the worth of their real-estate structure. They will produce and investigate billions of site proposals, select the best, and provide infrastructure developers with thorough information on each. Spacemaker creates environmentally friendly designs using artificial intelligence.
Snackpass
The company was founded in 2017 and is located in California. They were last funded in series B in 2021. Prior to Snackpass, restaurant operators were concerned about consumers failing to pick up their food, and eventually, they will face a loss. But now they have nothing to worry about with Snackpass. The program immediately deducts money from a customer’s wallet when an order is placed.