“I invested so much in educating my son. I never imagined that he would not have a job.” - Shurab Seikh, Ashulia, Dhaka.
Shurab Seikh’s son had just finished his education and Shurab was planning to start a business with him when the pandemic hit. As the impacts rippled across the country, Shurab saw business after business forced to shut down. He began to worry about his son’s future, as there were no jobs either.
Shurab knew that starting a business during a crisis would be a massive risk, and that it was highly unlikely that anyone would invest in him. Anxious but determined, he decided to try anyway.
Mohammad Emdadul Haque, the credit officer who Shurab approached, knew Shurab well and kept regular contact with him because Shurab already had a loan which he had paid 15 instalments against in the last year. While starting a business during a crisis was a risky venture, Shurab had an excellent track record. Emdadul, with the permission of the area manager, arranged a loan of BDT 700,000 (USD 8,270).
Shurab started the clothing business with the loan, employing his son. Initial signs are that the business is starting well and will only flourish further as the lockdown continues to ease.