Central bank should come forward to support Bangabazar victims: DCCI

The Dhaka Chamber of Commerce and Industry (DCCI) has urged Bangladesh Bank to issue relevant directives for commercial banks and non-banking financial institutions so that they come forward to support the businesses which have recently been affected by the Bangabazar fire.

Around 5,000 small and micro businesses of Bangabazar clothing market lost their shops with all belongings and valuables from a fire incident on April 4.

As a result, most of the traders and their allied dependents have become helpless and crippled with massive loans taken to buy stock ahead of the Eid-ul-Fitre, one of the biggest religious festivals for the Muslim.

Considering the tragedy, it is important to bring these traders within the purview of financial assistance for their quick rehabilitation.

DCCI President Md Sameer Sattar made the pleas to the central bank today, the chamber said in a press release.

Sattar also recommended extending waiver or reduction of interest on loans taken by these traders along with providing them with interest-free special term-loans or credit.

The Bangabazar fire victims should get deferred payment facilities for loan instalments and they should be exempted from being classified as loan defaulters now, he said.

The government should also provide the traders with relevant and existing refinancing schemes for easy loans, Sattar said.

These fiscal benefits may be allowed subject to creating a database of the fire victims and actual need assessment of these victims, he said.