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Newly appointed SME Foundation (SMEF) chairman Aftab ul Islam on Wednesday emphasized on lower interest for flourishing the small and medium enterprises in the country, reports UNB.
“SMEs won’t flourish if the interest rate (on SME loans) is not half of the general rate,” he said at a press conference at the Foundation office.
At present, banks charge up to 13 per cent interest on loans for agriculture, and medium and large enterprises while over 13 per cent for small enterprises.
Aftab ul Islam, a professional accountant and businessman, said: “Banks have a negative attitude towards the SMEs. This must change.”
He said the SME Foundation should have a bank of its own to provide much better financial support to the SMEs.
Replying to a question, Aftab, who has been appointed for two years, said: “I’ve a dream to see the foundation’s own bank during my tenure. But I’ll be happy if I can see the bank during my lifetime.”

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