Dhaka Bank, IPDC sign deal with BB

Dhaka Bank and IPDC Finance Limited signed an agreement with Bangladesh Bank (BB) under 'Refinance Scheme for Small and Medium Enterprise Development Project' in the city on Wednesday.

General Manager, Financial Inclusion Department of Bangladesh Bank & Project Director of (SMEDP-2) Md Abul Bashar and Acting Managing Director of Dhaka Bank Emranul Huq exchanged the documents after signing the agreement.

This scheme is applicable for the entrepreneurs in all areas except Dhaka and Chittagong City Corporation zones of IPDC, according to statements.

Under the Financial Inclusion Department (FID), Bangladesh Bank will offer Tk 240 Million US Dollar Refinancing Scheme which will help the small and medium enterprises to experience convenient formal financing service and eventually develop trading sectors of rural and sub-urban areas. Only 12 banks and 7 NBFI will be eligible to avail refinancing facility under this scheme.

Shitangshu Kumar Shur Chowdhury, Deputy Governor of Bangladesh Bank, was present at the agreement signing ceremony as the chief guest. Mominul Islam, Managing Director and CEO of IPDC Finance Limited, AFM Barkatullah, DMD and Head of Retail Business, Rizwan D Shams, GM and Head of Business Finance, Mahzabin Ferdous, Head of Brand and Corporate Communications of IPDC Finance Ltd, and Cai Li, Deputy Country Director of Asian Development Bank Bangladesh, were also present at the signing ceremony.