2nd generation entrepreneurs need to be encouraged

Abrar A Anwar, director and head of Global Commercial Banking, Citibank Bangladesh speaks at a workshop on “Recent Banking Trends for Business Successors of the Country”, in the capital yesterday. Photo: Citibank

The second generation entrepreneurs should be encouraged and trained to boost their businesses, a workshop was told yesterday.
“The country now needs to motivate and boost up the second generation business successors to run effectively and be successful in business to enhance the economic growth of the country,” said Abrar A Anwar, director and head of Global Commercial Banking, Citibank NA Bangladesh.
He was addressing the workshop on “Recent Banking Trends for Business Successors of the Country”, organized by the Citibank, NA Bangladesh, in the capital yesterday.
Around 28 participants from different reputed companies, such as Viyellatex, Partex, Nitol group, Summit, RAK ceramic, PNR groups, Malek spinning, United group.
The objective of the workshop is to accustom the young entrepreneurs and the business successors with recent banking trends and the management of financial factors, he added.
The workshop integrated topics ranges from recent changes in the Bangladesh economy, overview of banking, financial management and capital market, modern treasury management to trade solutions.
Abrar said the bank arranged the workshop to motivate the successors and second generation of family business in the country, which is the first time ever of its kind in Bangladesh.
“The workshop will also familiarize the successors with the critical role of the financial market and the operations of the financial institutes in the country,” he added.
The workshop also discussed the recent price hike of the essential commodities such as rice and oil.
“The price soar in essential commodities reduced the purchasing power of the middle and lower income groups people, which resulted more people to live below the poverty line in recent years,” said Fahmida Khatun, senior research fellow of Center for Policy Dialogue
She said the price soar and the increasing inflation rate makes a bad imprint on the country's economy that also causes a trade gap in bilateral and multilateral trade relations in recent times.
She also noted the per capita income of the country has increased to US$ 530 at the same time.
Mamun Rashid, MD and Citi country officer, Bangladesh, and Rashed Maqsood, director and head of global transaction services of Citibank, were also present the workshop.