BRAC Bank partnered strategically with Apon Bazaar to extend small-ticket digital loans to ready-made garment (RMG) workers in minutes. They will get instant loans up to BDT 50,000 without hard-copy documentation. The bank has earlier developed a new digital loan proposition ‘Jibika’ for low-income people as part of its mission of financial inclusion. The beneficiaries’ assessment, evaluation, and creditworthiness will be completed in minutes for real-time loan disbursement. The project will be implemented with the support of Apon, one of the pioneering omnichannel marketplaces in the industry of affordable products and services for RMG workers. It operates shops inside factories, selling food and other disposables to workers at slightly discounted prices. Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, at BRAC Bank, and Shaikh Saif Al Rashid, Managing Director, of Apon Bazaar, signed the partnership agreement on August 29, 2024.
