50% CMSME cluster loan has to be given in 19 clusters

Banks and financial institutions have to disburse at least 50% of their Cottage, Micro, Small and Medium Enterprises (CMSME) cluster loans to 19 “high-priority” and “priority” clusters, according to a circular issued by the SME and Special Programmes Department of the Bangladesh Bank on Sunday. The six high-priority sectors of the CMSME are agriculture/food processing and agricultural machinery manufacturing industries; ready-made garments, knitwear, design and decoration; ICT; leather and leather products industry; light engineering and jute and jute industries. The 13 priority sectors include plastics and other synthetic industries, tourism industry, home textiles, renewable energy, jewellery, toys, etc. In the case of manufacturing cottage enterprises, the maximum limit of consumer loans is Tk15 lakh. In the case of micro-enterprises, manufacturing industries will get Tk1 crore and service industries will get Tk25 lakh. Manufacturing small enterprises will get Tk20 crore and service industry Tk5 crore. Manufacturing entities in the medium enterprise will get Tk75 and service industry Tk50 crore.

Source: https://www.tbsnews.net/economy/banking/50-cmsme-cluster-loan-has-be-given-19-clusters-477194

177,681 BO accounts closed in one month

The number of active BO (beneficiary owner’s) accounts has declined 8.82 per cent in the past one month mainly because of non-payment of account maintenance fees. A total of 177,681 active BO accounts were shut down during the period from July14 to August 14, according to the data from the Central Depository Bangladesh Limited (CDBL). The number of active BO accounts stood at above 1.83 million on August 14, down from 2.01 million on July 14. Of the total BO accounts, some 1.37 million accounts belong to male investors while 440,000 million accounts are in the names of women beneficiaries, the CDBL data show. Usually, BO accounts are closed during July 1-31 every year due to non-payment of maintenance fees. In 2016, Bangladesh Securities and Exchange Commission (BSEC) reduced the renewal fee to Tk 450 from Tk 500 for each BO account with a view to reducing the financial burden on investors. Of Tk 450, Tk 200 goes to the public exchequer, Tk 100 to depository participants (DPs), Tk 100 to the CDBL and the remaining Tk 50 to the BSEC. On June 8, 2022, the securities regulator extended the investment ceiling to Tk 50,000 for general investors, and Tk 0.1 million for the NRBs.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/177681-bo-accounts-closed-in-one-month-1660585580

Pubali Bank opened sub-branch at Aftabnagar

Pubali Bank Limited has recently opened its sub-branch at Aftabnagar in Dhaka under Rampura Branch having online banking facilities to provide modern and digital banking services.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/pubali-bank-opened-sub-branch-at-aftabnagar-1660585789