BB warns banks on SME funds for women

Bangladesh Bank (BB) yesterday directed commercial banks to disburse at least 10 percent of SME funds among women entrepreneurs.
In a circular, the central bank said any bank failing to comply with the directive would not get refinancing facilities.
BB said the commercial banks had kept 15 percent of their credit in the small and medium enterprise (SME) funds.
A review by the central bank shows the banks failed to hand out sufficient loans to women entrepreneurs.
BB officials said the central bank encourages more women to come into entrepreneurship.
Women entrepreneurs constitute less than 10 percent of the total business entrepreneurs in Bangladesh whereas women in advanced market economies own more than 25 percent of all businesses.
A recent United Nations report concluded that economic development is closely related to the advancement of women.