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Short Note On SME and CIB

The document defines small and medium enterprises in Bangladesh based on criteria from the Ministry of Industry and Bangladesh Bank. Small enterprises have up to 25 employees and assets up to BDT 15 million, while medium enterprises have between 26-100 employees and assets between BDT 15-100 million. It also describes the Credit Information Bureau (CIB) in Bangladesh. The CIB contains individuals' repayment histories and is generated online by the central bank. This automated process provides credit reports much faster than previously. Financial institutions must use the CIB to check applicants' credit histories before lending. The CIB aims to improve risk management and create a disciplined borrowing environment through efficient sharing of credit information.

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195 views1 page

Short Note On SME and CIB

The document defines small and medium enterprises in Bangladesh based on criteria from the Ministry of Industry and Bangladesh Bank. Small enterprises have up to 25 employees and assets up to BDT 15 million, while medium enterprises have between 26-100 employees and assets between BDT 15-100 million. It also describes the Credit Information Bureau (CIB) in Bangladesh. The CIB contains individuals' repayment histories and is generated online by the central bank. This automated process provides credit reports much faster than previously. Financial institutions must use the CIB to check applicants' credit histories before lending. The CIB aims to improve risk management and create a disciplined borrowing environment through efficient sharing of credit information.

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chstu
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SME

Definition of Small and Medium Enterprise (SME) is recommended by Better Business Forum
and accepted as a uniform one by Ministry of Industry and Bangladesh Bank. Criteria of the
definition of SME are given below:
Small Enterprise refers to the firm/business which is not a public limited company and
complies the following criteria:

Medium Enterprise refers to the establishment/firm which is not a public limited company and
complies the following criteria:

Credit Information Bureau (CIB)

Credit Information Bureau (CIB) is a credit record of an individual, which contains the
repayment history of liability. The CIB is generated from central bank of a country. In the
previous time, the CIB was generated manually but now a days it is generated through online
from the server of Central Bank. In manual process it was a lengthy process which took about 15
to 20 days to generate, but now it requires only few seconds. The financial institutions which
engaged with lending to others must use CIB to know the credit history of applicant. The
purpose of online CIB is to create a disciplined environment for borrowing; the automated CIB
service provides credit related information for prospective and existing borrowers. With this
improved and efficient system, risk management will be more effective. Banks and financial
institutions may furnish credit information to CIB database 24 by 7 around the year; and they
can access credit reports from CIB online. The following mandatory field must be filled up for
generating CIB:
a) Applicant Name
b) Parents Name
c) Applied Amount
d) Date of birth (DOB)
e) District of birth
f) National Id/ Passport/ Driving License number
g) Permanent Address

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