Business Report :
United Commercial Bank PLC (UCB) and SME Foundation have formalized a pivotal partnership aimed at bolstering credit access for CMSME (cottage, micro, small, and medium enterprises) customers through a Credit Wholesaling Program.
The agreement was recently formalized at a renowned hotel in Dhaka, marks a significant step towards providing low-cost credit support to SMEs across Bangladesh.
Salahuddin Mahmud, acting managing director of SME Foundation, and Md Shah Alam Bhuiyan, deputy managing director of UCB, exchanged the agreement on behalf of their respective organizations.
The ceremony was graced by Zakia Sultana, senior secretary of the Ministry of Finance, Abdur Rahman Khan, Secretary of the Department of Financial Institutes under the Ministry of Finance, Prof Md Masudur Rahman, chairman of SME Foundation, and Md Mohsinur Rahman, senior vice president & head of SME at UCB, among other senior officials from both entities.
The collaboration aims to streamline financing opportunities for CMSMEs, facilitating their growth and sustainability in the competitive market landscape.
This initiative underscores UCB’s commitment to supporting the grassroots economy while aligning with SME Foundation’s mission to empower small enterprises nationwide.