Prime Bank PLC has signed an agreement with Bangladesh Bank to avail the Central Bank's Refinance Facility for Digital Nano Loans.
The signing ceremony took place at the Bangladesh Bank office recently, says a press release.
This initiative marks a significant step toward expanding access to affordable, digital credit facilities for underserved and unbanked segments of society, in line with the Government's and Bangladesh Bank's vision of building a Cashless Bangladesh.
Through this refinance scheme, Prime Bank will be able to offer fully digital loans to eligible customers at a lower interest rate, making small-scale credit more accessible, affordable and convenient for individuals across the country.
The agreement was signed by Hassan O. Rashid, CEO of Prime Bank PLC. and Iqbal Mohasin, Director of the Financial Inclusion Department of Bangladesh Bank.
The ceremony was also attended by Dr. Md. Habibur Rahman, Deputy Governor; Kazi Mutmainna Tahmida, Additional Director; Rup Ratan Pine, Executive Director of Bangladesh Bank and M. Nazeem A. Choudhury, Deputy Managing Director; A.Z.M. Fouz Ullah Chowdhury, Head of Digital Channels of Prime Bank PLC.
Prime Bank has already been offering Prime Agrim, a fully digital loan solution for retail customers. Through PrimeAgrim, customers can conveniently access a portion of their monthly salary as a short-term loan with instant approval and seamless disbursement.
