FBCCI offers Tk 1cr grant for victims

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will provide a grant of about Tk 1 crore to rehabilitate around 5,000 small and micro businesses affected by last Tuesday's fire which burned down the Bangabazar market in Dhaka.

FBCCI President Md Jasim Uddin made the announcement during a visit to the market yesterday, the apex trade body said in a press release. He also urged all businesspeople to extend their support.  

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However, the Dhaka Chamber of Commerce & Industry (DCCI) yesterday urged Bangladesh Bank to issue directives and guidelines for commercial banks and non-banking financial institutions (NBFIs) to financially support the quick rehabilitation of the Bangabazar fire victims.

Around 5,000 small and micro businesses were affected in last Tuesday's fire which completely burned down the market in Dhaka

Around 5,000 small and micro businesses were affected in last Tuesday's fire which completely burned down the market in Dhaka.

Most of the traders and their dependants are now in a dire situation as they lost all the goods bought with loans for sale ahead of Eid-ul-Fitr, one of the biggest religious festivals for Muslims when sale of clothes soars in Bangladesh.

A victim database assessing needs could be created to offer loan interest waivers or reductions, interest free special term loans or low interest credit and loan instalment payment deferrals, recommended DCCI President Md Sameer Sattar in a press release.

Relevant and existing government refinancing schemes on easy terms and conditions could also be offered while the victims could be granted temporary immunity from being listed as loan defaulters, he said.

Judicious consideration of the recommendations can rapidly get the victims and their employees back on their feet, he added.