NBL and Bangladesh Bank Ink Deal to Boost Financial Inclusion, NCC Bank Secures USD Refinancing
In a move to bolster financial inclusion in Bangladesh, National Bank Limited (NBL) and Bangladesh Bank have signed the ‘Financial Inclusion Credit Guarantee Scheme’ on Wednesday. The agreement was signed by several key figures including Manoj Kumar Howlader, Md. Mehmood Husain, Syed Himyanuddin Ahmed, and Md. Oliul Islam.
Under the new scheme, NBL will offer collateral-free loans at a 7 percent interest rate to marginalized farmers, low-income professionals, and school banking account holders. The loan amount will range from Tk 10 to Tk 50,100. This initiative is led by the CRM (MSME) Division Head of NBL, Md. Sahidul Islam, and is expected to enhance NBL’s CMSME financing.
On the same day, another significant agreement was signed between NCC Bank and Bangladesh Bank. The “BB-Long Term Financing Facility (BB-LTFF)” will provide USD refinancing to export-oriented manufacturers in Bangladesh against long-term loans. The signing was executed by Mohammad Mamdudur Rashid of NCC Bank and Liza Fahmida of Bangladesh Bank’s FSSSPD. Key witnesses to the signing included officials Nurun Nahar, Md Abul Bashar, Mohd Rafat Ullah Khan, Md Mahbub Alam, and A. K. M. Jahidul Alam.
These agreements represent significant strides in promoting financial inclusion and supporting local businesses in Bangladesh. They aim not only to provide financial assistance but also to stimulate economic growth within the country.
