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Published:
2018-03-28 21:56:49 BdST

MoU signed between BIBM and BFP-B


(L-R) Rashed Al Hasan, Policy Manager, BFP-B; Feisal Hussain, Team Leader, BFP-B; Dr. Toufiq Ahmad Choudhury, Director General, BIBM and Dr. Shah Md. Ahsan Habib, Director (Training) & Coordinator, BIBM

FT ONLINE

An MoU (Memorandum of Understanding) has been signed between Bangladesh Institute of Bank Management (BIBM) and Business Finance for the Poor in Bangladesh (BFP-B) Project.

Under the agreement signed on Tuesday, the two organizations will conduct policy advocacy that promotes strengthening of the regulatory environment for micro and small enterprises.

BIBM is a national training, research, consultancy and education institute that trains officials of banks and financial institutions to strengthen their skills.

The BFP-B is a £25 million six-year financial inclusion program funded by the UK Department for International Development.

“This MoU further strengthens the strategic partnership that the two organizations are developing together in order to advocate for a stronger regulatory environment that truly supports growth of the country’s small businesses,” said Feisal Hussain, BFP-B team leader.

The partnership will prioritize policy recommendations from a recent landmark BFP-B study of SME (small-to-medium enterprise) credit-related policies of Bangladesh Bank.

It will also incorporate recommendations from two upcoming BFP-B policy research studies: one on innovative SME financing products and delivery channels, and another on addressing market demand through agent banking.

BPF-B’s work includes eight landmark policy research studies that provide Bangladesh Bank with knowledge to improve policies that will lead to enhanced financing opportunities for small businesses.

The BFP-B aims to improve the credit worthiness of small businesses, enabling financial institutions to reduce the cost of risk assessment and to improve the risk-adjusted returns of lending and investing in small businesses.

The BFP-B is also assisting the Microcredit Regulatory Authority to establish a functioning micro-finance credit information bureau.

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