SBAC Bank joins BB’s refinance scheme for small businesses

SBAC Bank PLC has signed an agreement with the Bangladesh Bank to participate in the central bank’s Tk 5,000 crore refinance scheme aimed at providing working capital support to entrepreneurs in the cottage, micro, small and medium enterprises (CMSMEs) sector.

Zabdul Islam, director of the SME and Special Programmes Department of Bangladesh Bank, and SM Mainul Kabir, managing director and CEO of SBAC Bank PLC, signed the agreement at the central bank’s headquarters in Motijheel, Dhaka recently, according to a press release.

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Md Anis Ur Rahman, deputy governor of Bangladesh Bank, attended the ceremony.

Nahid Rahman, executive director of Bangladesh Bank, and Jahangir Alam, head of the Credit Risk Management Division and executive vice-president of SBAC Bank PLC, along with other senior officials from both institutions, were also present at the signing ceremony.