Mutual Trust Bank joins BB’s Tk 41,000cr refinance scheme

Mutual Trust Bank PLC (MTB) has signed a participation agreement with Bangladesh Bank (BB) under the central bank’s Tk 41,000 crore financing package aimed at supporting productive and priority sectors of the country’s economy.

Chowdhury Akhtar Asif, acting managing director and CEO of MTB, and Md Abdul Manna, director of the supervisory data management and analytics department at the central bank, signed the agreement at the BB headquarters in Motijheel, Dhaka recently, according to a press release.

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Formed from the banking sector’s surplus liquidity, this strategic initiative provides affordable pre-finance and refinance facilities to revitalise priority sectors, restart closed industries, support cottage, micro, small and medium enterprises (CMSMEs), expand agriculture, enhance export diversification and build regional economic hubs.

Top executives from several other participating commercial banks, including Agrani Bank, Rupali Bank, Jamuna Bank, Mercantile Bank, NCC Bank, Prime Bank, Southeast Bank, Trust Bank and Uttara Bank, were also present at the joint ceremony.

Through this participation, MTB reinforces its commitment to leveraging sound treasury management to channel low-cost funds, the release added. Md Kabir Ahmed and Md Sarwar Hossain, deputy governors of Bangladesh Bank, attended the event.

Md Shamsul Islam, deputy managing director and group head of treasury at Mutual Trust Bank, alongside senior officials from both organisations, was also present at the signing ceremony.