BRAC Bank extends digital SME lending programme to Medbox

BRAC Bank has entered into a partnership with Medbox Solution Limited to extend its digital lending programme 'Shafollo' to Medbox's affiliated pharmacies, enabling access to formal financing for a largely underserved segment of the pharmaceutical business ecosystem.
MedBox is an integrated B2B medicine distribution chain solution in Bangladesh, says a press release.
Under the partnership, affiliated pharmacies will be able to access instant working capital from BRAC Bank through Shafollo, the country's first SME instant digital loan, through the bank's Shubidha App. The fully digital process removes paperwork and long approval cycles, allowing faster and hassle-free access to finance.
The initiative addresses the financing challenges faced by small pharmacy businesses, supporting better inventory management, smoother day-to-day operations, and sustainable growth, while strengthening the pharmaceutical supply chain at the grassroots level.
Syed Abdul Momen, Additional Managing Director and Head of SME Banking, BRAC Bank, and Kazi Ashikur Rasul, Managing Director, Medbox Solution Limited, signed a Memorandum of Understanding in Dhaka recently in the presence of senior officials from the two organisations.
Commenting on the partnership, Syed Abdul Momen said, "Through Shafollo, BRAC Bank is redefining SME financing by enabling instant digital access to formal credit. This partnership extends the country's first SME digital loan to pharmacy entrepreneurs, reinforcing our commitment to financial inclusion through innovation."
Kazi Ashikur Rasul said, "This collaboration will allow our affiliated pharmacies to access timely working capital, supporting operational efficiency, better stock management, and long-term business growth."