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Prime Bank PLC has teamed up with PRAN-RFL Group to ease the working capital requirements of their suppliers.
Under this facility arrangement, suppliers of PRAN-RFL will be able to enjoy mortgage-free overdraft loan up to BDT 10 crore (100 mliion), according to a media release.
The programme will help suppliers expedite the pace of their business by getting hassle-free credit facility against the validated invoices of their delivered products.
Prime Bank and PRAN-RFL firmly believe this will create a new horizon for the suppliers, the release says.
In presence of Faisal Rahman, Additional Managing Director of Prime Bank, Nazeem A Choudhury, Deputy Managing Director of Prime Bank and Uzma Chowdhury, director-finance of PRAN-RFL Group, exchanged the agreement documents on behalf of their respective organisations at Prime Bank head office in Dhaka recently.
Senior officials from both organisations were also present at the agreement signing ceremony.