Shimanto Bank signs agreement with Bangladesh Bank for providing Long Term Financing Facilities

Shimanto Bank has recently signed an agreement with Bangladesh Bank to participate in Long Term Financing Facility in foreign currency (USD).

The agreement signing ceremony was presided over by Dr Md Habibur Rahman, Deputy Governor, Bangladesh Bank, according to a media release. 

Mr Rafiqul Islam, Managing Director and CEO of Shimanto Bank and Ms Liza Fahmida, Director (FSSSPD), Bangladesh Bank signed the agreement on behalf of their respective organisations.

High Officials from FSSSPD, Bangladesh Bank and related Division of Shimanto Bank were present in the ceremony.

Under this BB-LTFF on-lending/refinancing programme, Shimanto Bank will facilitate export-oriented industries to establish new projects and expand their existing projects complying with specific terms and conditions.

The rate of interest on this loan is low and repayment tenure is from three to ten years, the release adds.