Bangladesh Bank & NCC Bank sign agreement to Implement BDT 5b Start-up refinance fund

With the objective of expanding financing in the start-up sector, NCC Bank has signed a participating agreement with Bangladesh Bank.

Under this agreement, NCC Bank will be able to disburse loans to eligible start-up entrepreneurs using refinance funds received from Bangladesh Bank, according to a press release.

The primary objective of the BDT 5 billion fund is to support the development of new, technology-driven, innovative, and scalable entrepreneurial ventures across the country.

Recently, at a ceremony held at the head office of Bangladesh Bank, the agreement was signed and exchanged in the presence of Bangladesh Bank Deputy Governor Nurun Nahar. M. Shamsul Arefin, Managing Director of NCC Bank, and Nawshad Mustafa, Director of the SME and Special Program Department of Bangladesh Bank, signed the agreement on behalf of their respective institutions.

Also present at the event were Husne Ara Shikha, Executive Director of Bangladesh Bank; Md. Habibur Rahman, Deputy Managing Director and Sharif Mohammad Mahsin, SVP and Head of the SME Division of NCC Bank, along with other senior officials from both organizations.

This agreement reflects NCC Bank’s proactive commitment to expanding start-up financing and represents a timely initiative to effectively contribute to the government’s goals of entrepreneurship development, digital innovation, and sustainable economic growth.