To Develop All Economic Organization

To Develop All Economics Organization (DAEO) received the primary certification from MRA (Microcredit Regulatory Authority) on 30th December 2021. It is founded by the local young entrepreneur named Mr. Newton Sharma who is the chairman of this organization and Mr. Jahidul Islam who is the Executive Director of this organization. Though the official headquarter is located in Gior Upazila of Manikganj, it’s initial activity was started in Shibaloy Upazila, Manikganj. Shibaloy Upazila is the farthest region from Manikgonj Zila city. It is located just beside the Rajshahi District’s Bera Upazila. Brahmaputra River flows between these two Upazilas. So most of the people of these upazilas are heavily dependent on fishing from the Brahmaputra River or vegetable cultivation in the open field area when the water level goes down in summer and winter time. The problem arises whenever the water level goes down, scarcity of fish arises and the vegetable business is only profitable in the winter season. To develop economic independence for such urban people DAEO’s young entrepreneurs started encouraging people to involve in other businesses, which is much more sustainable and efficient for economic development. They are encouraging local people to start the business of poultry firm, fish firm, duck firm, cattle firm, harvesting paddy, jute, flower, mastered, honey, etc. They are coordinating with the shibaloy upazila office to receive assistance from government officials to develop an entrepreneurship mentality among the rural people of the shibaloy. Later DAEO also started to work in Gior Upzila to encourage local people about such entrepreneurialism by making them realize, the development of living standards and economic independence in their life. For those people who do not own any land or property, DAEO gives loans for owning rickshaws, small trucks, and or vocational skill development training.
The current activities of DAEO’s are given below:
1) Giving loans to SME.
2) Encouraging people to start businesses in the small-cottage industry
3) Making people realize the importance of savings for future needs and investment
4) Ensuring women’s empowerment by encouraging rural women to start their own businesses or cultivation
5) Provide interactive sessions where DAEO highlights the importance of education for kids and adult people.
6) Donate funds and clothes for rural people who do not have a home or shelter to live in.
DAEO plans to expand in Bangladesh rapidly and dreams of becoming one of Bangladesh’s biggest MFI institutions. To fulfill its mission, DAEO purchased a subscription to SWOSTI-MFI247 software, which helps them to transform from a slow and manual process to a fast and automated process of their microfinance operation. SWOSTI is proud to be an initial stepping stone for DAEO. SWOSTI believes DAEO will go a long way in the future. Swosti Ltd. expresses it’s gratitude to DAEO, for selecting SWOSTI-MFI247 software for it’s microfinance operation.