BRAC BANK DISTRIBUTES INSTANT LOANS TO MARGINAL FARMERS

BRAC Bank has extended instant loan facilities to marginal farmers in Nilphamari under the refinancing scheme for Tk 10/50/100 account holders, managed by the Financial Inclusion Department (FID) of Bangladesh Bank. Organised with Rajshahi Krishi Unnayan Bank (RAKUB) as the lead bank, the event was held in Nilphamari, bringing together 20 participating banks from across the region. Abeda Rahim, Additional Director, FID, Bangladesh Bank, Head Office, attended the event as the chief guest, while Juma Rani, Joint Director, FID, was present as the special guest. As part of the programme, BRAC Bank disbursed JIBIKA Plus instant loans at a highly competitive interest rate of only 7% to 30 marginal farmers through its fully digital platform. These collateral-free loans carried no processing fees, apart from a nominal stamp charge, and were processed and disbursed within minutes.