BURO teams up with bKash

bKash Limited, a subsidiary of BRAC Bank, signed an agreement with BURO Bangladesh recently, allowing the microfinance institution to leverage bKash for loan disbursement and repayment service for its customers.

The deal will help around 1.7 million households of BURO Bangladesh make their installment payments for savings scheme of the organisation through bKash.

Mizanur Rashid, Chief Commercial Officer of bKash, and Md Mosharrof Hossain, Director-Finance of BURO Bangladesh, signed the agreement on behalf of their respective organistions at BURO Bangladesh's head office in the city.

Kamal Quadir, Chief Executive Officer of bKash, and Zakir Hossain, Executive Director of BURO Bangladesh, along with senior officials of both the organisations were present at the signing ceremony.

Currently, BURO Bangladesh, a leading NGO-MFI working for economic and social development, disburses loan to beneficiaries through its 64,898 centres across the country.

The collaboration with bKash, the largest mobile financial service provider in the country, allows the organisation to deliver loans directly into the bKash accounts of their beneficiaries while the loan recipients can also make repayment via bKash without the need for visiting any centres.

The fund transfer will significantly reduce the cost and time for both BURO Bangladesh and its beneficiaries.

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