| BRAC Bank's Financial Literacy Program for MSMEs Published on: 12 October 2009 |
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BIID is currently working with BRAC Bank on their Financial Literacy Program (FLP) for MSMEs. This program is part of BRAC Bank's CSR. The FLP is designed to make MSMEs aware of the importance of maintaining proper accounts, financial records and other such business information.
The training program will begin in early January, 2010 and continue for a period of three months. Initially, there will be three training modules which the participants will take part in. The participants are a mixture of BRAC Bank SME clients and non-BRAC Bank SMEs. The non-BRAC Bank SMEs were chosen by BIID through a process of snowballing and word-of-mouth. In these modules, the MSMEs will be made aware of the need to maintain business accounts, the proper procedure of maintaining business accounts, and the benefits of maintaining such accounts. Once the initial process is complete, there will be a period of follow up during which an accounts expert will visit the MSMEs to follow up with them. The expert will clarify any doubts that the MSMEs might have as to how to keep proper records and any other such issues that the MSMEs may have. Once the three month period is over, the participants will be provided with a certificate of participation in the FLP program. Through is training program, it is hoped that the MSMEs will start to think about the need to maintain proper financial records, and how it can help in planning and managing a business organization. |
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