FE Report

Citi Foundation, the philanthropic arm of Citigroup, Thursday launched the Citi Microentrepreneurship Awards (CMA) programme for the fifth consecutive time in Bangladesh to recognise and honor leadership, entrepreneurial skills and best practices of individual micro entrepreneurs.

This year the awards will be presented in four categories that are best micro entrepreneur of the year in agriculture, best women micro entrepreneur of the year, best micro entrepreneur of the year and best MFI of the year.

Each winner will be given Tk 350,000 as cash award. The final award presentation ceremony will be held in March 2010, said managing director and Citi country officer Mamun Rashid at a press conference held at the National Press Club Thursday.

Former adviser to caretaker government and chairperson of the advisory council of CMA Dr Wahiduddin Mahmud, former chairman of the board of directors of Agrani Bank and former finance secretary Siddiqur Rahman Chowdhury, Prof. Abu Ahmed of the Department of Economics of Dhaka University, director general of NGO Affairs Bureau Mustak Hassan Md. Iftekhar and founder executive director of Shakti Foundation for Disadvantaged Women Dr. Humaira Islam were present at the press conference.

Speaking at the press conference Dr Wahiduddin Mahmud said microcredit has been playing a significant contribution to improving the living standard of people.

"Citigroup deserves a credit for its continuity of micro entrepreneurship awards. Through this award a small entrepreneur can play an important role and if at least 5.0 per cent borrowers of the country become the small entrepreneurs the national economy will witness a positive impact," said Dr Mahmud.

"There is a gap between the interests of different bank loans and the banks should decrease the rates. Proper distribution of micro credit can change the fate of the poor," he added.

"We're very pleased with the progress made by the past CMA winners and expect that other unsung heroes of this country will follow their footsteps," Dr Humaira Islam said.

Dr Wahiduddin Mahmud (Chairman of Palli Karma-Sahayak Foundation-PKSF and Professor of the Department of Economics of Dhaka University) has been made chairperson of the advisory council formed for the awards.

Other members of the council include Bangladesh Bank governor Dr. Atiur Rahman, former governor of Bangladesh Bank Salehudin Ahmed, former Adviser to the caretaker government and former cabinet secretary Dr Akbar Ali Khan, former adviser to the caretaker government Rokia A Rahman, former chairman of Board of Directors of Agrani Bank and former finance secretary Siddiqur Rahman Chowdhury, Prof Abu Ahmed of the Department of Economics of Dhaka University, director general of NGO Affairs Bureau Mustak Hassan Md. Iftekhar, regional senior vice president, Middle East, Africa, South Asia-East, ALICO M Nurul Islam, Managing Director of Syngenta Bangladesh Limited Sarwar Ahmed, Managing Director of Grameen Trust Professor H.I. Latifee, executive director of BRAC Dr. Mahabub Hossain, and founder executive director of Shakti Foundation for Disadvantaged Women Dr. Humaira Islam.