Make regulatory compliance easier for CMSMEs

Strategies for Sustainable Growth in the CMSME and Emerging Business Industry by MD Emranul Huq, Managing Director & CEO, Dhaka Bank

Dhaka Bank’s MD Emranul Huq Prioritizes Sustainable Growth in CMSME Sector

In a bid to boost sustainable growth in the CMSME (Cottage, Micro, Small and Medium Enterprises) and Emerging Business industry, MD Emranul Huq, Managing Director & CEO of Dhaka Bank, has outlined a comprehensive strategy to enhance the bank’s presence in this sector.

Huq emphasized the importance of developing new MSME & Emerging Business products to cater to the evolving needs of customers. The bank is also focusing on developing Supply Chain and Distributor Finance models to facilitate business growth. Additionally, specific branches have been allocated with MSME business targets, with close monitoring to ensure their success.

Cluster financing has been a key focus area for Dhaka Bank, with 156 rural and suburban customers in various clusters benefiting from a total loan disbursement of Tk. 37.63 million. The bank is also expanding its reach into rural and remote areas through mobile banking, mobile apps, and internet banking services.

Huq stressed the need for banks to view financing not just as a means of earning but as a tool for development. He highlighted the importance of offering tailored financial products, such as flexible loans and revenue-based financing, to meet the diverse needs of MSMEs.

In line with the vision of Digital Bangladesh, Dhaka Bank is also looking to extend modern services like online banking platforms and digital payment solutions to MSMEs. The bank is committed to promoting financial literacy among small-business owners through workshops and seminars on various topics.

Huq reiterated Dhaka Bank’s commitment to the MSME sector, with plans to introduce multiple products and services under various pre/refinancing schemes to support the timely needs of businesses in this segment. He also called for simplified regulatory compliance for CMSMEs and the introduction of policies that encourage innovation and growth in the sector.

To ensure the success of MSME entrepreneurs in accessing financial support, Huq emphasized the importance of education and training programs. He also highlighted the need for a collaborative environment where CMSMEs, large corporations, financial institutions, and government agencies can work together to support each other’s growth and development.

With MD Emranul Huq at the helm, Dhaka Bank is poised to play a significant role in driving sustainable growth and development in the CMSME sector, ultimately contributing to the overall economic activity in the country.

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