Prime Bank offers loan for Pran-RFL suppliers

Prime Bank PLC recently signed a facility arrangement agreement with Pran-RFL Group, enabling the latter's suppliers to get mortgage free loans from the former.

Nazeem A Choudhury, deputy managing director of the bank, and Uzma Chowdhury, director for finance of the group, inked the deal at the bank's head office in Dhaka, read a press release.

Under this facility arrangement, suppliers of Pran-RFL will be able to enjoy mortgage free overdraft loans up to Tk 10 crore.

This agreement will help suppliers expedite the pace of their business by ensuring hassle free credit facilities against validated invoices of their delivered products.

Prime Bank and Pran-RFL firmly believe this will create a new horizon for suppliers, the press release added.

Faisal Rahman, additional managing director of the bank, was present alongside senior officials from both organisations.