SBAC Bank joins Tk 3,000cr refinance scheme for CMSMEs

SBAC Bank PLC has signed an agreement with the Bangladesh Bank to participate in the central bank’s Tk 3,000 crore refinance fund under the Cluster Financing Scheme for the cottage, micro, small and medium enterprise (CMSME) sector, aimed at accelerating economic growth.

SM Mainul Kabir, managing director and CEO of SBAC Bank PLC, and Nawshad Mustafa, director of the SME and Special Programmes Department of the Bangladesh Bank, signed the agreement at the central bank’s headquarters in Motijheel, Dhaka yesterday, according to a press release.

Nurun Nahar, deputy governor of Bangladesh Bank, attended the signing ceremony as the chief guest.

Among others, Husne Ara Shikha, executive director of the central bank; Abdul Quaium Chowdhury, additional managing director of SBAC Bank PLC; and Md Abdul Mannan, executive vice-president and head of the Credit Risk Management Division, along with other officials from both organisations, were present at the ceremony.