Citizens Bank, BB deal with Tk5,000cr CMSME fund

Citizens Bank PLC has signed Participation Agreement with Bangladesh Bank at its Head Office in Dhaka under the “Tk 5,000 crore revolving refinance fund, supporting the working capital needs of Cottage, Micro, Small and Medium Enterprises (CMSMEs).”

The agreement was signed by Mr. Alamgir Hossain, Managing Director of Citizens Bank PLC, and Md. Zabdul Islam, Director, SME and Special Programs Department (SMESPD), Bangladesh Bank on behalf of their respective organizations, in the presence of Md. Anis Ur Rahman, Deputy Governor of Bangladesh Bank.

Nahid Rahman, Executive Director, Bangladesh Bank, Shahanaj Parvin, Additional Director, BB attended the agreement signing ceremony.

Bangladesh Bank; Md. Mazibur Rahman, Executive Vice President, Bijoy Chandra Das, Senior Vice President and Head of SMR & Marketing Division of Citizens Bank PLC, along with other senior officials from both institutions attended the agreement signing ceremony.

Through this refinancing scheme, Citizens Bank PLC will further enhance its support to eligible CMSME entrepreneurs to avail financing at an interest rate of 9pc, empowering them to sustain and expand production, services and business operations.

This initiative marks another step towards strengthening CMSMEs, creating employment opportunities and supporting sustainable economic growth.