Bashundhara empowers thousands through interest-free loans

I took a small loan from an NGO about 6-7 years ago. The condition was that I would have to repay the loan within a year. Despite frantic efforts, I could not repay the loan in time. When I remember the consequences, I cannot hold back my tears.

I somehow managed to clear the loan after selling everything that I possessed. I fell in danger with my two children. Their education was about to stop. However, I came to know that Bashundhara Foundation provides interest-free loans. I knew how to sew.

Taking a Bashundhara loan, I bought a sewing machine. I brought back solvency to the family with a little effort. My daughter is a higher secondary student. My son has also passed the SSC exam. I took loans thrice. My daughter intends to take a loan.

She has also learnt the art of sewing. The family will run smoothly if both mother and daughter work buying a machine. My children will continue their education.  

Their father is a peasant. We overcame the adversity that we faced six years ago.

Taking Bashundhara loans, I brought back solvency to the family.

Honufa Begum, wife of Billal Hossain of Durgarampur village in Bancharampur of Brahmanbaria, said this while expressing her feelings when she came to take a new loan from Bashundhara Foundation.

Recently, the 73rd loan distribution ceremony was held at the upazila auditorium close to the Bashundhara Foundation office in Bancharampur upazila. It is a service-oriented organisation. Bashundhara Group adviser Maynal Hossain Chowdhury and Bashundhara Foundation Chief Executive Officer M Naseemul Hye FCS attended the event.

A total of 481 disadvantaged women of 17 villages under the upazila took loans from them. An amount of Tk78.05 lakh was distributed in a day. For the first time, 56 people took out loans. The other 425 persons had also taken loans previously. Again, they have come to take loans. Honufa is one of them.

She came along with her daughter Fatema Zannat. Their hardship knew no bounds. However, taking loans from the Bashundhara Foundation, they attained solvency. Honufa, Lovely, Shefali and Parul were in great hardship. Now, solvency has returned to their families.

Sharmin Akter of Madhyanagar village is mother of a six-month-old baby. While comforting her child, she was talking. There was a time when she had to remain half-fed. “Although I knew the job of sewing, I couldn’t buy a sewing machine due to poverty. Last year, I purchased a sewing machine taking a loan from Bashundhara Group. Previously, I had a paucity of work. Gradually, I got ample work. I started earning a lot. My food scarcity vanished. Now, I’m well off with my husband and children.  Bashundhara Group is behind my solvency. This time, I shall buy two goats taking a loan anew. Lots of people have benefited from rearing goats,” she said.

Mariam Begum of Doani village purchased two goats taking a Tk10,000 loan. She said she earned Tk30,000 from selling goats during the Eid season. She possesses three more goats. In reply to a query, she expressed her intention to buy a cow so that she can earn a lot. “Because of the Bashundhara Group, our good days have returned. May Allah bless them!”

The story of every woman is different from each other. They are surviving in their day-to-day struggle. They have sustained well. Bashundhara Group has taught them how to survive well. At least, 27,000 families attained solvency taking their interest and service charge-free loans.

Mymun Kabir, deputy general manager of Bashundhara Group, said Bashundhara Group Chairman Ahmed Akbar Sobhan has established this foundation.

"Our loan distribution programme kicked off on 8 December 2005. We distributed loans to the inhabitants of 101 villages in Bancharampur, Nabinagar and Homna upazilas. Since its inception, 27,340 women have been brought under the purview of the loan distribution scheme. All of them are solvent enough.”

Naseemul Hye said, "Bashundhara Group Chairman Ahmed Akbar Sobhan has undertaken this project to improve the living standard of disadvantaged people. Since its inception, Bashundhara Group distributed interest and service charge-free loans for people's welfare. Observing the way the people of Bancharampur are investing their loans, it’s presumed that they won't remain insolvent for long. The Group's aim and objective are to make them solvent.”

Addressing the beneficiaries, Maynal Hossain said, "Interest and service charge-free loan is a rare event in world history. Only the Bashundhara Group can do such a noble act. The Bashundhara Group Chairman is engaged in multifarious activities to make disadvantaged rural women solvent. The loan distribution programme is one of the noble acts. To date, loans amounting to Tk26 crore have been distributed rotationally and the rate of loan realisation is cent per cent."

"Talking to beneficiaries, I have learnt that they’ve attained solvency by taking the loans. I request the loan receivers not to misuse the loans. If you remain well, the country will remain well. Bashundhara Group is working for the welfare of the country and its people. Please pray for the chairman of Bashundhara Group and his family,” he added.

SOURCE : Daily Sun