National Credit and Commerce Bank Ltd (NCC Bank) has recently signed a credit wholesaling agreement with SME foundation on financing the cluster borrowers of the country.

Under the agreement, SME Foundation will provide Tk 20 million fund to the NCC Bank, said a press release.

The bank will provide finance to the borrowers at the rate of 9 per cent interest without any security money, it said.

Syed Rezwanul Kabir, managing director of SME Foundation and Mohammed Nurul Amin, managing director of NCC Bank signed the agreement at a city hotel on Tuesday.

Minister for Industries Dilip Barua was present at the signing ceremony as chief guest while Shahriar Alam, MP and Aftab ul Islam, chairman of SME Foundation, were present as special guests. Golam Hafiz Ahmed, additional managing director of NCC Bank, presented the vote of thanks.

Chowdhury Mofidul Haque, executive director of Bangladesh Bank, deputy manaing directors of NCC Bank Mohabbat Khan and T M Faruque Chowdhury, among other, were present on the occasion.

NCC Bank will provide low-rate credit to the two separate SME clusters involved in export oriented ready-made garments at Syedpur, Nilphamari and footwear manufacturing business at Kaluhati village under Charghat Upazila in Rajshahi.

The bank has also launched two tailor-made loan products NCCB Garments-Wear Cluster and NCCB Foot-Wear Cluster in this connection.

News: Daily Sun/ Bangladesh/ Apr-29-2011