STAR BUSINESS REPORT

Small and medium enterprise (SME) entrepreneurs have called for the implementation of the Secure Transactions (Movable Assets) Act, 2023, which enables the use of movable assets as collateral for bank loans.

The demand was raised at a workshop jointly organised by the SME Foundation and the International Finance Corporation (IFC), where the participants emphasised the law’s potential to widen access to finance for SME businesses.

Martin Holtmann, country manager of the IFC, presided over the workshop, while SME Foundation Chairperson Md Musfikur Rahman attended as the chief guest, according to a press release.

Bangladesh Bank Deputy Governor Nurun Nahar also spoke at the event.

Speakers noted that many SME entrepreneurs, particularly those in rural and informal sectors, as well as women entrepreneurs, lack immovable assets such as land or buildings, which limits their ability to secure bank financing to start or expand their businesses.