Zabidi Abdullah

SME-Development Bank

Our Bank History Small and Medium Enterprise Development Bank (SME–Development Bank) was formerly known as Myanmar Industrial Development Bank (MID Bank). It was founded in 1996 and commenced operation to 2010 as Semi Government bank. In 2010, the bank has been reformed to public bank which stand - alone independently. The bank changed its name to SMID bank and managed by Board of Directors who elected by shareholders of the bank. Change the Name in May 2019, as the Small and Medium Enterprise Development Bank called terms. The main objective of the bank was established to function as a development financial institution to nurture and meet the unique needs of small and medium enterprises (SMEs) through the provision of financial and non-financial services to SMEs. While SME Development Bank‘s role is to complement the products and services provided by other development and commercial banking institutions, the Bank was also established to strengthen the national implementation infrastructure through enhanced SME capacity. OBJECTIVES SMEs playing a significant role for the development of our economy by creating employment opportunity and producing important alternative machines and machinery parts for saving huge foreign currency for our country. SME sector is becoming gradually a rising industrial sector of our country and contributing more and more to our export, this sector faces several common problems like lack of technical know- how, shortage of long-term financial support, lack of skilled workers, marketing link, R &D, knowledge on safety measures, hygiene, environmental pollution, etc. We need to acquire proper institutional knowledge in the fields of technological and managerial education and ask academics and researchers to work more vigorously for the sector's rapid development. So as a part of our development strategy, we should intensify our efforts to develop this sector to grow industrial base and volume of foreign trade.