NCC Bank signs deal to tap BB’s Tk 500cr start-up fund

NCC Bank PLC has signed an agreement with Bangladesh Bank (BB) to participate in the central bank's Tk 500 crore Start-up Refinance Fund, which aims to support technology-driven, innovative and scalable start-up ventures across the country.

M Shamsul Arefin, managing director of NCC Bank PLC, and Nawshad Mustafa, director of the SME and Special Programmes Department of Bangladesh Bank, signed the agreement at the BB headquarters in Motijheel, Dhaka recently, according to a press release.

Under the deal, NCC Bank will disburse loans to eligible start-up entrepreneurs using refinance funds provided by Bangladesh Bank.

Nurun Nahar, deputy governor of Bangladesh Bank, attended the signing ceremony as the chief guest.

Husne Ara Shikha, executive director of the central bank; Md Habibur Rahman, deputy managing director; and Sharif Mohammad Mahsin, senior vice-president and head of the SME division of NCC Bank PLC, along with other senior officials from both organisations, were also present.