StanChart closes Tk. 350m deal for microfinance programme of TMSS
Wednesday, 31 March 2010
Standard Chartered Bank signed a microfinance facility agreement Monday with TMSS (Thengamara Mohila Sabuj Sangha), one of the leading MFIs in the country.
Under this financing arrangement, Stanchart will disburse Tk. 350 million to TMSS which will be directed towards growth of their microfinance portfolio.
Mr. Ahmed A Shah, Managing Director, Origination & Client Coverage of Standard Chartered Bank, Bangladesh and Prof. Dr. Hosne Ara Begum, Executive Director of TMSS signed the agreement on behalf of their organizations.
Jim McCabe, CEO of Standard Chartered Bank and other senior officials from both the organizations were also present at the signing ceremony held in the city.
This is part of SCB's global initiative to provide support in the microfinance sector across Asia and Africa which will in turn help to alleviate poverty for some of the poorest people in these regions. Current microfinance operations of SCB spans across more than 20 countries in Asia & Africa covering more than 50 clients with ongoing expansions such as this deal.
Under this financing arrangement, Stanchart will disburse Tk. 350 million to TMSS which will be directed towards growth of their microfinance portfolio.
Mr. Ahmed A Shah, Managing Director, Origination & Client Coverage of Standard Chartered Bank, Bangladesh and Prof. Dr. Hosne Ara Begum, Executive Director of TMSS signed the agreement on behalf of their organizations.
Jim McCabe, CEO of Standard Chartered Bank and other senior officials from both the organizations were also present at the signing ceremony held in the city.
This is part of SCB's global initiative to provide support in the microfinance sector across Asia and Africa which will in turn help to alleviate poverty for some of the poorest people in these regions. Current microfinance operations of SCB spans across more than 20 countries in Asia & Africa covering more than 50 clients with ongoing expansions such as this deal.