BRAC Bank signs MoU with Supermarket Owners Assoc
Sunday, 10 February 2008
BRAC Bank Limited has recently signed a memorandum of understanding (MoU) with Bangladesh Supermarket Owners Association.
Under the agreement, BRAC Bank will extend SME (small and medium enterprise) loans to the suppliers of supermarkets countrywide through its Supplier and Distributor Finance Unit with its unique and customised product, Super Supply.
This is for the first time in the country that a bank has come forward to serve the suppliers in a focused manner with a long-term objective to support the backward linkage industries in the country.
Farzana Chowdhury, Senior Vice-President and Head of SME Banking of BRAC Bank, and Niaz Rahim, President of Bangladesh Supermarket Owners Association and Managing Director of Agora, signed the MoU on behalf of their respective organisations.
Farzana Chowdhury focused on BRAC Bank's SME loan disbursement activities saying that the bank had been providing collateral-free loan facility since 2001.
Under the agreement, BRAC Bank will extend SME (small and medium enterprise) loans to the suppliers of supermarkets countrywide through its Supplier and Distributor Finance Unit with its unique and customised product, Super Supply.
This is for the first time in the country that a bank has come forward to serve the suppliers in a focused manner with a long-term objective to support the backward linkage industries in the country.
Farzana Chowdhury, Senior Vice-President and Head of SME Banking of BRAC Bank, and Niaz Rahim, President of Bangladesh Supermarket Owners Association and Managing Director of Agora, signed the MoU on behalf of their respective organisations.
Farzana Chowdhury focused on BRAC Bank's SME loan disbursement activities saying that the bank had been providing collateral-free loan facility since 2001.