Dhaka Bank joins Tk 500cr BB startup refinancing scheme

Dhaka Bank PLC has recently signed a participation agreement with Bangladesh Bank (BB) under the Tk 500 crore Startup Fund Refinancing Scheme.

Muhammad Mustafizur Rahman, additional director of Bangladesh Bank, and AKM Shahnawaj, managing director (current charge) of Dhaka Bank PLC, signed the agreement at the BB headquarters in the capital's Motijheel, according to a press release.

Bangladesh Bank Governor Ahsan H Mansur joined the programme virtually.

According to the central bank's master circular issued on July 9 this year, eligible startup entrepreneurs can now access refinance loans at a 4 percent interest rate.

The circular also raised loan ceilings for startups, setting limits between Tk 2 crore and Tk 8 crore.

Startups introducing new products, services, or processes using technology or intellectual property to meet domestic or global demand, demonstrating rapid scalability, and possessing the capacity to reshape or significantly improve existing markets through disruptive innovation will be eligible to access loans at the 4 percent rate.

Nurun Nahar, deputy governor of Bangladesh Bank; Husne Ara Shikha, executive director; and Md Mahbubur Rahman Palash, head of MSME and emerging business division of Dhaka Bank PLC, along with other senior officials, were also present.