Dhaka, Bangladesh
575 educated unemployed youths in Sreemangal will get loans

‘Bangabandhu Jubo Rin’

575 educated unemployed youths in Sreemangal will get loans

2 lakh nationwide

Thousands of unemployed youth of Sreemangal Upazila have become self-sufficient, including self-employment, aided by the state-owned Karmoshangstan bank with loans sans any collateral and in easy process of lending. This establishment of state-owned establishment was created in the year 1998 to urge unemployed youths to build an economic foundation for self-employment as well as entrepreneurship. According to the data available, In the period from starting of the branch, FY 2001-19, up to 2452 unemployed borrowers have taken 19 crore 66 lakhs, out loans from Sreemangal Branch & repayment more than 19 crore 36 lakhs. Accordingly, the loan repayment rate is about 99%, depending on the simple condition of the loan. Many have brought themselves under the economy by retaking loans to expand their business. However, some have not been able to succeed. The 'Bangabandhu Jubo Rin', which brought a maximum of BDT 5 lakh to the Karmoshangstan bank around 'MujibBorsho' in 2020, has been appraised by 6 persons, especially educated and trained youths eligible to get loan. Actually between the ages of 18 to 34, on a 'first come first served basis'. Eligible youth can get 'Bangabandhu Jubo Rin'at a single digit (9%) interest rate. And this created a livelihood among the unemployed youths those are trained and educated in the upazila. The finding shows that there are huge educated and trained young people in Sreemangal upazila. Many young are unable to develop themselves as entrepreneurs just because of their poor economic conditions. Along with this, there is a lack of industry in the area - lack of factories and lack of proper training facility as well. In particular, the youth people of the Tea Workers community and ethnographic tribes community of the area do not have any private land of their own. In fact, the working and educated children of Dalit, landless families are the most vulnerable. Many trained job-seekers said their focus is on the 'Bangabondhu Jubo Rin - 2020' program of Karmoshangstan bank because it's a immense initiative of the Bank on occasion of 'Mujib Barsho' and looking forward to being a successful entrepreneur by eliminating unemployment in this historical year of the nation . From Sreemangal Branch to FY 19 - 2020, so far (February 1st week), 550 customers have been engaged in self-employment. Bank sources said unemployed youths of the eight unions, other than Rajghat UP of the upazila, had taken SME loan. From the beginning of the Seemangal branch, till now 88 customers have failed to repay the loan partly. Only 4.77 percent, and the branch designates 25 loans as classified loans (CL), most of which are in Kamlaganj upazila. On the other hand, in the current financial year, 59% of the total distribution target has been earned 39% and the opposite has been achieved. Second officer of the branch Suma Rani Deb said, "Demand notes, legal notices, lawyer notices have been made against the defaulters regularly and we are working towards collecting defaulted loans by next June. She mentions the reason for unable - unexpectedly distressing illnesses, high-mindedness, unwanted business loss, and very little intentional negligence. However, the bank can take legal action if anyone does not intentionally refund the loan. Sreemangal Branch Manager (P.O) Ali Akkash Miji said, "80% of the total credit holder from this branch is now self sufficient. The youth of this area are very honest. Behind the success of the branch is the tendency of the borrowers to use the money to pay back. As a result, the banks do not have to think negatively to provide credit among the youth community in this area and the rate of collection is good as well as result of adequate verification - sorting and proper monitoring. Besides, there is no unexpected pressure from any part of the society. Besides, the bank keeps a close eye on whether anyone is investing in illicit business with loans. When someone stands firm at the taxpayer level or on his own foot, we are discouraged them to get credit" According to bank sources, they are working to meet the target rate of debt collection will increase by next June. However, the best of the branches in the Sylhet division is suffering from a manpower crisis, with only four manpower running banking activities across parts of Sreemangal and Kamalganj upazilas. The branch According to the organogram, there are seven posts is empty. One of the Principal Officers, Second Officer, Computer Operator and night watchman continues the activities of the daily banking. The loan activities of the bank, including the 'Bangabandhu Jubo Rin', are provided in complete simple terms in the commercial and self-help sector. In that case, in addition to the national identity card / chairman's certificate as proof of citizenship, a copy of the transcript of his or her parent's land should be submitted to the permanent resident. On the other hand, there are many youths away from their land, but have been living with family in the area for generations. In that case, only under the conditions of, can a local businessman, a guaranteed businessman or a government / autonomous or non-governmental employee guarantor to get the required loan benefits from the bank at a fixed rate making him/her a commercial or self-employed entrepreneur. Particularly ICT, alternative medical practices, local small productive sectors, services sector, commercial finance, fisheries, and poultry, trained by public institutions or government-approved institutions. Enterprises in the self-employed sectors such as farms, industries- factories, small and cottage industries it can be. In this case, any working person in the age group of 18-45 years may be conditionally entitled to avail this benefit. The Karmosangstan Bank Sreemangal Branch has already collected the list of trained trainees from the Upazila Youth Development Officer's Office, Upazila Fisheries Officer's Office, Women Affairs Officer's Office, Upazila Animal Resources Officer's Office and Social Services Officer's Office & started 'Bangabandhu Jubo Rin' working process in the meantime. It should be noted that the current government is committed to bringing at least one member of each family under self-employment through economic self-employment and hunger free, building a poverty-free society and promoting the socio-economic development of the unemployed youth. 'Bangabandhu Jubo Rin' will be given to the 02 lacs educated and trained unemployed youth across the country during the year `MujibBorsho - 2020' to make them economically self-sufficient and entrepreneurial. Deputy General Manager of the bank's branch control, Mahmuda Yasmin, said, "On the initiative of the Honorable Prime Minister, Kaniz Fatema, NDC and Managing Director of the bank's board of directors Under the direction of Tajul Islam, the Karmosangstan Bank has inagurated the 'Bangabandhu Jubo Rin'- 2020 as a special program in Mujib Borsho. Our aim to help the highest number of unemployed youth with limited funds collected. Besides, it has been decided to confer 'Bangabandhu Honors and Crest' to 100 successful entrepreneurs across the country during countrywide Occasion. The program has already started and will be completed within the next fiscal year. Karmoshangstan Bank's efforts to build youth power as a tool for economic prosperity' — Rupom Acharjee, Sreemangal, Moulvibazar

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