From Exchange Announcements...

BRAC Bank Limited recently signed a memorandum of understanding (MoU) with Bangladesh Supermarket Owners Association. Under the agreement, BRAC Bank will extend SME (small and medium enterprise) loans to the suppliers of supermarkets countrywide through its Supplier and Distributor Finance Unit with its unique and customised product, Super Supply.

This is the first time in the country that a bank has devised a product to serve suppliers and support the backward linkage industries in the country. Farzana Chowdhury, Senior Vice-President and Head of SME Banking of BRAC Bank, and Niaz Rahim, President of Bangladesh Supermarket Owners Association and Managing Director of Agora, signed the MoU on behalf of their respective organisations.

BRAC Bank, founded in 2001 by BRAC NGO, provides comprehensive commercial banking services to more than 40,000 borrowers in the Small and Medium Enterprise (SME) business sector not traditionally served by conventional banks.

Read more about BRAC Bank at our client bank page here