BRAC Bank Limited and leading lifestyle e-commerce platform, Bagdoom.com, introduced the country's first ever SME loan product for the e-commerce entrepreneurs. Managing Director & CEO of BRAC Bank, Selim RF Hussain, Executive Chairman of eGeneration Group & Bagdoom.com, Shameem Ahsan, CEO of Bagdoom.com, Mirajul Huq and Head of SME Banking Division of BRAC Bank, Syed Abdul Momen were present at the event along with the high officials of both the organisations.
BRAC Bank Limited and leading lifestyle e-commerce platform, Bagdoom.com, have introduced the country's first ever SME loan product for the e-commerce entrepreneurs, said a statement.
The product styled "BRAC Bank - Bagdoom Merchant Financing Platform: eMPOWER", an SME loan programme to financially empower the merchants of Bagdoom.com and assist in their business expansion, was launched at a press conference at the BRAC Bank Head Office in Dhaka Wednesday.
Under the agreement between BRAC Bank and Bagdoom to launch the financing programme, the merchants exclusively associated with Bagdoom.com can now avail loan facilities with the minimum of collaterals and lowest of interest rates from BRAC Bank.
Managing Director & CEO of BRAC Bank, Selim R. F. Hussain, Executive Chairman of eGeneration Group & Bagdoom.com, Shameem Ahsan, CEO of Bagdoom.com, Mirajul Huq, Head of SME Banking Division of BRAC Bank, Syed Abdul Momen were present at the event along with the high officials of both the organisations.
Upon launching of this exclusive programme, Chairman of Bagdoom.com, Mr. Shameem Ahsan said, "The biggest obstacle for entrepreneurs in the ICT and e-commerce sectors is the lack of investment. BRAC Bank and Bagdoom.com have launched this platform to solve the problem. The financing platform will facilitate thousands of new e-commerce entrepreneurs and enterprises entering the market and creation of new jobs. This will help the local products compete with the foreign products and also generate demands in the international market".
Managing Director & CEO of BRAC Bank, Mr. Selim R. F. Hussain said, "Being the pioneer of SME Banking in the country, BRAC Bank always gives priority to creating new entrepreneurs. We believe that SME entrepreneurs are the ones who keep the country's economy vibrant. We are very pleased we are being able to offer SME loan facility to the merchants and sellers of Bagdoom.com. With this loan facility, the entrepreneurs will be able to further expand their businesses. We will work together with Bagdoom.com to promote the country's e-commerce sector."