Shimanto Bank signs refinancing deals with BB

Shimanto Bank PLC has signed Participation Agreements with Bangladesh Bank under the Cluster Financing Scheme and the FSFDMSME Refinancing Scheme through the SME & Special Programs Department (SMESPD).

The move aims to strengthen financing support for Cottage, Micro, Small and Medium Enterprises (CMSMEs) across the country, the bank said in a press release.

Under the schemes, CMSME customers will be able to avail financing facilities at a concessional interest rate of 7 percent per annum, enhancing access to affordable financing for entrepreneurs and small businesses nationwide. The signing ceremony was held recently at Bangladesh Bank Head Office in Dhaka, chaired by Nurun Nahar, deputy governor of Bangladesh Bank.

Md Nurul Azim, managing director and CEO of Shimanto Bank PLC, and Nawshad Mustafa, director of SMESPD, Bangladesh Bank, signed the agreement on behalf of their respective organisations. Husne Ara Shikha, executive director of Bangladesh Bank, Muhammed Didarul Islam, CRO, and Md Faridul Islam, head of SME banking of Shimanto Bank PLC, were also present.