Economic Reporter :
Like the previous years, four state-owned banks would provide 24 entities with credit facility worth around Tk 1800 crore for purchasing rawhide on the eve of Eid-ul-Azha, the biggest supply season of the item.
Top executives of the banks – Sonali, Rupali, Agrani and Janata – said that they would provide leather businesses loan facility for ensuring collation of maximum amount of rawhide, a major export item.
They also said that they traders would get loans at the rate of 9 per cent interest for purchasing rawhide.
Of the banks, Janata Bank would provide highest Tk 1300 crore including previous loan renewal for nine to ten business institutions this year.
Regarding the loan, Janata Bank’s Managing Director Abdus Salam said, “Janata Bank will provide loans worth around Tk 200 crore newly. Beside, around Tk 1100 crore loans will be renewed. Altogether total Tk 1300 crore loans will be disbursed this year to ten organisations.”
Besides, Rupali Bank Tk 250 crore, Agrani Tk 160 crore and Sonali rest Tk 70 crore loans will be disbursed this year.
Agrani Bank managing director Mohammad Shams-Ul Islam said that the entity has decided to issue Tk 160 crore loans to 7 entities for purchasing rawhide on the eve of Eid-ul-Azha.
Sonali Bank’s Managing Director Md Obayed Ullah Al Masud said, “We have sanctioned Tk 70 crore in loans for three entities this Eid for purchasing rawhide as like the previous year.”
Another state owned entity, Rupali Bank would disburse around Tk 250 crore this year for purchasing the essential raw element for the export of leather and leather goods to four entities.
Besides the state-owned banks, several private commercial banks were also issuing credit facility to their customers in this regard.
However, the disbursement of the loans might vary due to the existing state of loans repayment by the entities which received loan facility last year.
The country’s export of leather and leather goods constitutes worth around $1 billion. Leather businesses collect 50 per cent of their annual requirement during Eid-ul-Azha.
Bangladesh Tanners’ Association President Shahin Ahmed said the state-owned banks have targeted to disburse Tk 1800 crore for rawhide purchase this year.
