Karmasangsthan Bank plays significant role for the unemployed
10 October 2015, Nirapad News: Karmasangsthan Bank (KB), one of the scheduled banks in the country, has been playing significant role in creating work opportunity for the unemployed youths here since 2002 through providing them with soft loan.
Office sources said the KB was established in 1998 as per KB Act No.7 of 1998 aimed at involving the unemployed people especially the unemployed youths in the economic activities through self-employment opportunities for poverty alleviation.
The Bank formally started functioning since 22 September of 1998 through disbursement of loans from its main branch in Dhaka, capital city of the country.
Few years later, a branch of the bank was opened at Gaibandha town in 2002 and since then, the bank has been working for the unemployed youths including women aimed at creating job opportunity.
Till June, 2015 work opportunities had been created to 2,880 unemployed youths of Sadar, Sundarganj, Saghata, Fulchhari and Sadullapur upazilas in the district through providing them with soft loan on easy term.
The loan was disbursed in different sectors including poultry and dairy farm, fish culture, beef fattening, welding factory, nursery, furniture and small scale cottage industries and other income generating activities in both rural and urban areas of the district.
Each of the beneficiaries received loan ranging from Taka 50,000 to 5 lakh from the bank without any hassle.
Jahangir Hossain, a beneficiary of Purbapara area of Gaibandha district town, said he had established a poultry farm in 2009 taking loan of Taka 5 lakh from the bank without any harassment.
He was able to turn the wheels of fortune alleviating his poverty like situation and as he was earning Taka 10,500 selling at least 1,500 eggs from 2,200 layers of the farm everyday, he said.
Senior principal officer and manager of the branch M. Jahangir Alam said the bank also realized a good amount of outstanding loan of Taka 15 crore from the loan receivers during the period.
The bank put more emphasis on enhancing credit flow towards exploring the potential sectors of the district side by side with ensuring transparency and accountability at the time of loan disbursement, he added.