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Bangladesh Bank has directed the country’s registered banks to provide loan and credit card services to IT self-employed workers to boost the self-employed sector.
The matter came to light from a notification issued by the central bank on Sunday.
According to the notification, the self-employed with virtual identity cards issued by the Department of Information and Communication Technology (TIC) will be able to benefit from loans and credit cards from banks.
According to the Bangladesh Association of Software and Information Services (BASIS), around 6.5 million freelancers work in the country’s IT sector and collectively earn around £ 200 million annually.
In recent years, foreign exchange earnings through IT freelancers have increased, representing a significant contribution to the national economy, the central bank said in a statement.
To improve the country by 2041, the government has taken various initiatives including human resource development, creation of entrepreneurs, and job creation.
As part of that initiative, the government has already started issuing virtual identification cards for freelancers.
“If the self-employed get loans and credit cards from banks, there will be adequate progress in this sector,” a central bank statement read.
A freelancer earns money for each of their jobs. These jobs are usually short-lived. He is not an employee of any organization. So at the same time, you have a lot of freedom to work. Unless you are committed to working until a specific project is completed on a contractual basis.
