Dhaka Bank, SME Foundation team up to boost CMSME business

Dhaka Bank PLC has teamed up with SME Foundation (SMEF) for providing loans to the Cottage, Micro, Small and Medium Enterprises (CMSMEs) under their revolving loan facility, amounting to Tk 450 crore with the fund from the government's stimulus package and its own source to help navigate the challenges of the pandemic.

Dhaka Bank and SMEF signed an agreement in this regard on June 11, 2024, in a renowned hotel in Dhaka, according to a media release. 

Under this programme, SME Foundation will provide Tk 450 crore to the participating banks and non-bank financial institutions (NBFIs) which will be disbursed to the entrepreneurs at a subsidised rate of 6 per cent.

Mr A K M Shahnawaj, Acting Managing Director of Dhaka Bank PLC and Mr Salahuddin Mahmud, Managing Director (Additional Charge) of SME Foundation signed the agreement on behalf of their organisations.

Also, Mr Md Mahbubur Rahman Palash, Head of MSME and Emerging Business Division of the bank was present during the agreement signing ceremony.

Professor Md Masudur Rahman, Chairman of the SME Foundation, presided over the agreement signing ceremony, while Ms Zakia Sultana, Senior Secretary, Ministry of Industries, Government of the People's Republic of Bangladesh, Mr Md Abdur Rahman Khan FCMA, Secretary, Financial Institutions Division, Ministry of Finance and high officials of different banks and NBFIs were also present in the signing ceremony.