Bangladesh Bank is ready to extend all possible support — from policy reforms to easier loan access — to strengthen the country’s private sector, said Nawshad Mustafa, director of the central bank’s SME and SPD departments.
Speaking at a seminar organised by the Dhaka Chamber of Commerce and Industry on Saturday, Nawshad said the SME loan policy has already been revamped to make credit access smoother.
‘However, if further simplification is needed, Bangladesh Bank is ready to take that step,’ he added.
Nawshad urged businesses to provide specific feedback rather than general requests. ‘Instead of saying ‘make loans easier,’ please tell us exactly where and how much flexibility would help you. We will consider those points in revising the policy,’ he said.
Terming the private sector the main driving force of Bangladesh’s economy, Nawshad reaffirmed the central bank’s openness to cooperate with businesses, and emphasised the importance of timely and reliable data for effective policymaking.
‘The data we receive must be actionable and free of major gaps. Discussing 2024’s data in 2025 won’t lead to timely solutions,’ he noted.
Unlike countries such as the UK, Nawshad said, Bangladesh’s monetary policy is not yet credit-oriented, an area where future reforms could bring positive changes.
Bangladesh Bank’s director (research) Salim Al Mamun also spoke at the event, stressing that data should not only highlight progress but also reveal underlying challenges. ‘Only then can proper analysis lead to meaningful decisions,’ he said.
Salim underscored the importance of cross-time comparisons to better interpret economic indicators and understand subtle trends within the economy.
