Mercantile Bank inks deal with Bangladesh Bank

Mercantile Bank PLC has signed a participating agreement with the central bank on Bangladesh Bank-Long Term Financing Facility (BB-LTFF).

Md Quamrul Islam Chowdhury, managing director and CEO of Mercantile Bank PLC, and Liza Fahmida, director of the Financial Sector Support and Strategic Planning Department (FSSSPD) of the BB, inked the deal at the BB headquarters in Motijheel, Dhaka today, read a press release.

Based on the success of the recently completed BB-LTFF programme under Financial Sector Support Project (FSSP), the Bangladesh Bank decided to continue providing long-term financing support to private sector firms, mainly export-oriented manufacturing industries, through BB-LTFF.

Its objectives are to contribute to the national economy with increased outputs, job creation and economic growth.

Among others, Nurun Nahar, deputy governor of the central bank, Md Abul Bashar, executive director, Firoz Mahmud Islam, additional director of the FSSSPD, and Shamim Ahmed, deputy managing director and CAMLCO of Mercantile Bank PLC, were also present.