Write a draft of the minutes of the Board meeting of your bank in which SME loan facilities were approved.

Ref: Board Meeting/Minutes/SME/M-39/12 

Strictly Confidential

Sunday, May 02, 2012

MINUTES OF THE BOARD MEETING IN WHICH SME LOAN FACILITUIES WERE APPROVED

In pursuance of the Circular Number 33 dated 12 March 2012 of Bangladesh Bank and in accordance with the government’s directive to encourage entrepreneurs in Small and edium Enterprises (SME) One Bank in its 025th Credit Committee meeting held on May 12, 2012 recommended, which has been approved by the Managing Director, to disburse a total amount of Taka 500 crore among at least 5000 entrepreneurs as SME loans under the following terms and conditions. The details of the loan scheme are mentioned in Annexure A, B and C. The recommended SME loan scheme is placed for approval by the Board of Directors in the meeting being held on May 02, 2012:

Loan Ceiling: BDT 3 lac to 12 lac

Maximum Loan amount: Required loan amount, but not exceeding Taka 50 lac

Areas of SME: Any manufacturing or service industry and trading that can employ at least 12 people as wage earners Preference to be given to those trades and industries which can produce products and services as substitutes of any product that are imported from abroad.

Product Type: Equated Monthly Installment (EMI) or Single Installment

Tenure: EMI in 12 to 36 months or by a Single Installment

Interest Rate: 13%

Security: Hypothecation on assets, two personal guarantees & post dated cheques

MEMO NO-39/12 RESOLVED: All the members of the Board present in the meeting held on May 02, 2012 thoroughly have discussed each and every term and condition of the proposed SME Loan cheme and unanimously approved the same to be made effective from the first day of July, 2012. The Board however approved Taka 1200 crore, instead of Taka 500 crore to be disbursed among as many entrepreneurs as possible instead of among 5000 entrepreneurs, each with a minimum of Taka 5, 00,000. Any SME loan above Taka 12, 00,000, the Board decided, has to be approved by the Managing Director and any SME loan exceeding Taka 30, 00,000 by the Board. 

X
Board Secretary

Chairman, Board of Directors