Citizens Bank signs participation agreement with Bangladesh Bank

Citizens Bank PLC has signed participation agreement with Bangladesh Bank to implement the Tk 3,000 Crore Cluster Financing Scheme and Tk 2,000 Crore Agro Processing for the development of Micro, Small and Medium Enterprises at Bangladesh Bank head office recently, according to a press release.

In presence of Ms. Nurun Nahar, Deputy Governor of Bangladesh Bank Mr. Nawshad Mustafa, Director, SME & Special Programs Department (SMESPD), Bangladesh Bank and Mr. Md. Mostafizur Rahman, Deputy Managing Director of Citizens Bank PLC., signed and exchanged the deed of agreement on behalf of the respective organizations.

Ms. Husne Ara Shikha, Executive Director, Bangladesh Bank, Mr. Bijoy Chandra Das, Head, SMR & Marketing Division and other officials of Bangladesh Bank were present on the occasion. As per the agreement, Citizens Bank will provide loans to cluster and Agro Processing entrepreneurs at an interest rate of 7% under Bangladesh Bank’s refinancing scheme.