Bangladesh Bank (BB) has expressed its full commitment to supporting the country’s private sector through necessary policy reforms and improved loan accessibility, said Nawshad Mustafa, director of the central bank’s SME and SPD departments.
Addressing a seminar hosted by the Dhaka Chamber of Commerce and Industry (DCCI) on Saturday, he highlighted that the SME loan policy has already undergone major revisions to streamline the credit process.
“If there’s a need for further simplification, the central bank is fully prepared to move in that direction,” he said.
Calling for more constructive engagement from businesses, Nawshad urged entrepreneurs to share specific and actionable feedback instead of broad requests. “Rather than saying ‘make loans easier,’ it would help us more if you point out where exactly and how much flexibility is needed. We’ll review such inputs while updating policies,” he added.
Recognising the private sector as the key engine of Bangladesh’s economic growth, he reaffirmed Bangladesh Bank’s willingness to work hand-in-hand with businesses. He also stressed that timely, accurate, and comprehensive data is essential for effective policy formulation.
“Data should be current and practical. Discussing last year’s numbers won’t help us tackle today’s challenges,” he noted.
Nawshad further pointed out that unlike countries such as the United Kingdom, Bangladesh’s monetary framework has yet to become fully credit-oriented – an area that could see positive transformations in future reforms.
Bangladesh Bank Director (Research) Salim Al Mamun also spoke at the event, emphasising that data must not only showcase progress but also identify underlying weaknesses. “Only through clear and comparative analysis can we arrive at meaningful conclusions,” he said.
Salim added that examining economic indicators across different timeframes is crucial to detecting subtle trends and ensuring informed policy responses.
