BRAC Bank distributes instant loans to marginal farmers in Nilphamari

BRAC Bank has extended instant loan facilities to marginal farmers in Nilphamari under the refinancing scheme for Tk. 10/50/100 account holders, managed by the Financial Inclusion Department (FID) of Bangladesh Bank.

The programme, held on August 8, 2025, in Nilphamari, aimed to provide on-the-spot loan facilities to marginal farmers, low-income individuals, school banking account holders, and small business owners, according to a press release.

The initiative is designed to improve access to affordable credit while advancing the broader objective of deepening financial inclusion in rural Bangladesh.

Organised with Rajshahi Krishi Unnayan Bank (RAKUB) as the lead bank, the event brought together 20 participating banks from across the region. It served as a vibrant platform for engagement between financial institutions and grassroots beneficiaries, attracting customers, local business leaders, journalists, and representatives of the local administration.

Abeda Rahim, Additional Director, FID, Bangladesh Bank, Head Office, attended the event as the chief guest, while Juma Rani, Joint Director, FID, served as the special guest.

As part of the programme, BRAC Bank disbursed JIBIKA Plus instant loans at a highly competitive interest rate of only 7% to 30 marginal farmers through its fully digital platform.

These collateral-free loans carried no processing fees, apart from a nominal stamp charge, and were processed and disbursed within minutes, demonstrating the bank’s efficiency in delivering fast, paperless, and customer-friendly financial services.

Officials from Bangladesh Bank and other stakeholders highly commended BRAC Bank’s proactive role in facilitating low-cost financing for underserved farming communities.

This initiative underscores BRAC Bank’s unwavering commitment to empowering marginal farmers, strengthening rural livelihoods, and fostering nationwide financial inclusion through innovative and accessible banking solutions.