Shimanto Bank offers subsidised home loans for govt employees

Shimanto Bank PLC has signed a memorandum of understanding (MoU) with the Finance Division of the Ministry of Finance to provide home loans at a subsidised rate for government officials and employees.

Md Nurul Azim, managing director and CEO of Shimanto Bank PLC, and Ferdous Rowshan Ara, additional secretary (administration and planning wing) of the Finance Division, signed the MoU at the Secretariat in Dhaka recently, according to a press release.

Under the MoU, all permanent government officials and employees will be eligible to avail home loans under a special scheme offered by Shimanto Bank PLC. A portion of the loan interest will be subsidised by the government, while the remaining portion will be borne by the borrower.

Mohammad Abul Hashem, additional secretary of the Planning, Development and Reform Wing of the Finance Division, presided over the signing ceremony.

Mohammad Golam Kabir, deputy secretary of the Housing Building Loan Branch (additional charge) of the Finance Division; TS Shamim Siddiky, deputy secretary of House Building Loan Cell-2 (additional charge); Md Sahidul Islam, head of business; and Mohammad Masud Sajjad, head of retail assets and liabilities at Shimanto Bank PLC, along with senior officials from both institutions, were also present at the ceremony.