New proposals for simplification of EEF policy

2015-10-13

Bangladesh Association of Software and Information Services (BASIS) delegation led by President Shameem Ahsan met Dr. M. Aslam Alam, Secretary of Banking and Financial Institution Division for Ministry of Finance. The meeting was held at Secretariat on Tuesday evening.
 
Among others, Additional Secretary of Bank and Financial Institutions Division Arijit Chowdhury, BASIS Secretary General Uttam Kumar Paul, BASIS Treasurer Shah Imraul Kaeesh and BASIS Director Samira Zuberi Himika were also present at the meeting.
 
Proposals to simplify IT entrepreneurs' access to Equity and Entrepreneurship Fund (EEF); aiming at providing them with equity support and to reduce corruption were submitted to Dr. M. Aslam Alam. To change the maximum budget for a proposed project to 10 crore from 5 crore for ICT industry, to increase the Intellectual Property (IP) related costs to 10% from 5% of the total budget, to ease the EEF rules of taking land/building/flat as collateral for the genuine young entrepreneurs are the major changes recommended.
 
Dr. M. Aslam Alam assured that all concerns raised by BASIS will be considered. He said, besides amendments, a reformation of the whole policy is required to simplify the EEF policy and to ensure that genuine entrepreneurs get the fund. Banking and Financial Institution Division and BASIS have decided to jointly work in this regard in the meeting.
 
He said, growth of E-commerce in the country is very promising. There will be a major advancement in the industry if trust building and easy E-payment system is guaranteed. To help achieve it, BASIS member companies need to build credibility and offer their customers with the best customer service.

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