SBAC Bank hands over Tk 2.58cr startup fund cheque to BB

SBAC Bank PLC has handed over a cheque of Tk 2.58 crore to Bangladesh Bank (BB) as part of initiatives undertaken in line with the central bank’s directives on the formation and operations of Bangladesh Startup Investment Company PLC.

Md Rabiul Islam, additional managing director of SBAC Bank PLC, presented the cheque to Nawshad Mostafa, director of the SME and Special Programmes Department (SMESPD) at Bangladesh Bank, at the BB headquarters in Motijheel, Dhaka recently, according to a press release.

Through the initiative, SBAC Bank reaffirmed its commitment to Bangladesh Bank’s policy directives and its active role in strengthening the country’s startup ecosystem.

The bank said it remains focused on promoting innovation, entrepreneurship and sustainable economic growth in Bangladesh.

Mohammad Abdul Mannan, executive vice-president and head of credit at SBAC Bank PLC, was also present, along with other senior officials from both organisations.