Community Bank signs Participatory Agreement with Bangladesh Bank regarding FICGS

Community Bank Bangladesh PLC. has signed a "Participatory Agreement" with Bangladesh Bank to join the Participation Agreement under Financial Inclusion Credit Guarantee Scheme (FICGS).

This agreement is a key initiative aimed to extend credit facilities to 10/50/100 Tk. Account holder marginal/ landless farmers, low income professionals, school banking account holder, small business owner who often face difficulties accessing formal financing due to inadequate collateral, according to a media release. 

The FICGS aims to promote inclusive financing by providing credit guarantees against eligible loans, thereby reducing the risk exposure of participating banks and financial institutions.

Md. Sawkatul Alam, Executive Director, Bangladesh Bank graced the program with his kind presence. Mr. Muhammad Nazmul Haque, Director CGD of Bangladesh Bank and Mr. Kimiwa Saddat, Managing Director (Current Charge) of Community Bank Bangladesh PLC. signed & exchanged the agreement on behalf of their respective organizations at Conference Room, Main Building of Bangladesh Bank.

Besides, Mohammad Imam Hossain, Additional Director & Ms. Zobaida Afroze, Additional Director, CGD of Bangladesh Bank and Dr. Md. Ariful Islam, Head of Corporate Banking & Head of Business (Branch), Md. Mamun ur Rahman, Head of ADC & Head of MD’s Coordination team, Sharif Hasan Mamun, Head of SME & Agriculture of Community Bank Bangladesh PLC., along with other Senior Officials of Bangladesh Bank, were also present on this occasion.