Prime Bank, BB inks deal on credit guarantee facilities

Prime Bank has joined hands with Bangladesh Bank, signing an agreement for a credit guarantee scheme aimed at uplifting women entrepreneurs by way of collateral-free credit and easy access to finance.

Hassan O Rashid, chief executive officer of Prime Bank, and Nahid Rahman, director of the Credit Guarantee Department of the Bangladesh Bank, inked the deal at the BB headquarters in Motijheel recently, the bank said in a press release.

This initiative falls under the Bangladesh Bank's comprehensive refinance scheme, designed to bolster cottage, micro and small enterprises.

This scheme promises to ease the path for women entrepreneurs, enabling them to secure essential financing without the burden of collateral, according to Prime Bank officials.

Among others, Nurun Nahar, deputy governor of the central bank, and Mohammad Jamal Uddin, executive director, were also present.