DCCI seeks BB support for Bangabazar fire victims

Staff Reporter :
The Dhaka Chamber of Commerce and Industry (DCCI) requested Bangladesh Bank to extend support for Bangabazar fire victims, noting that thousands of small and micro businesses of Bangabazar shopping complex have lost their shops with all belongings and valuables in the destructive fire that damaged the entire market on April 4.
As a result, most of the traders and their allied dependents have become helpless and crippled with massive loans taken to buy stock ahead of Eid, DCCI observed.
Considering the calamity, it is important to bring these traders within the purview of financial assistance in order for their quick rehabilitation, it said.
DCCI President Barrister Md. Sameer Sattar urged the central bank for intervention by issuing relevant directives and guidelines to both commercial banks and non-banking financial institutions (NBFIs) so that they can come forward to support the fire victims.
The DCCI President has put forward some key recommendations on the broader spectrum which includes – waiver/reduction of interest on loans taken by these traders; providing interest free with low interest rate special term-loan or credit to the fire victims/business owners; deferring payment of loan installments; not classifying any such fire victims as loan defaulters during this time, and bringing the fire victim traders under any relevant and existing refinancing schemes of the Government with easy provisions.
He said that these fiscal benefits may be allowed subject to creating a database of the fire victims and actual need assessment of these victims.
The business leader said also that if Bangladesh Bank judiciously considers these proposals or recommendations for the victims, this will assist with the rapid rehabilitation of the affected businesses and of their employees who also suffered acutely.