Refinance deal between BB, AB Bank signed

Posted by BankInfo on Wed, Nov 10 2010 07:41 am

To avail of the Refinance Scheme under ADB Fund for SME sectors, a contract signing ceremony was held recently between Bangladesh Bank and AB Bank Limited. Mr. Md. Abul Kashem, Executive Director of Bangladesh Bank and Mr. Kaiser A. Chowdhury, President & Managing Director of AB Bank signed the contract on behalf of their respective organizations. Under patronization of ADB and from the SME Development Project undertaken by Bangladesh Government, a total of USD95 million Fund has been created. AB Bank Limited would utilize this fund to finance SME projects situated outside Dhaka and Chittagong Metropolitan areas. To streamline and strengthen the industrial development of the country, to institutionalize the activities of the SME Sector and to ensure access to finance, Bangladesh Bank with the assistance of ADB Fund is making such contract with different commercial banks and financial institutions to extend this facility. Among others present at the signing ceremony were Mr. Majedur Rahman, AMD and Mr. Moshiur Rahman Chowdhury, Head of SME Banking of AB Bank Limited and other senior officials from Bangladesh Bank.

                                                                 Source: The Financial Express/09 Nov 2010

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