NRBC Bank signs deal with BB to support leather industry

NRBC Bank PLC has signed a Tk 2,000 crore pre-financing agreement with Bangladesh Bank (BB) to facilitate low-cost financing for the country's leather and leather goods industry.

The agreement was signed at Bangladesh Bank headquarters in Dhaka on Sunday (November 1) under a pre-financing scheme funded by the central bank's own resources.

Bangladesh Bank Deputy Governor Md Anisur Rahman attended the signing ceremony as the chief guest. Md Jabdul Islam, director of the central bank's SME and Special Programs Department, and NRBC Bank Managing Director and CEO Dr Md Touhidul Alam Khan signed the agreement on behalf of their respective organisations.

Bangladesh Bank Executive Director Nahid Rahman attended the event as a special guest. NRBC Bank Deputy Managing Director and Chief Business Officer Md Shaheen Howlader and Head of SME and Agri Business Department Md Romjan Ali Bhuiyan were also present.

The scheme aims to ensure access to low-cost financing on flexible terms for entrepreneurs and businesses operating in the leather and leather goods sector.

The initiative is expected to expand financing opportunities for entrepreneurs, accelerate production and business activities, encourage industrial investment and strengthen the competitiveness of Bangladesh's leather industry.

- MaT