Banks Allowed To Open Small Business Centers In Bangladesh

May 5, 2008 12:44 p.m. EST

Dhaka, Bangladesh (AHN) - The central bank of Bangladesh on Monday allowed commercial banks to open service centers to gear up financing for small and medium businesses, officials say in Dhaka.

The Bangladesh Bank, the country's central bank, asked the banks to apply by June 15 for permission to establish a small business financing center.

Under the new guidelines, the banks will provide services to small business clients, such as receiving loan applications and disbursing, monitoring and recovery of loans.