Brac Bank Limited signed a Memorandum of Understanding with Bangladesh Hi-Tech Park Authority under ICT Ministry of Government of Bangladesh to provide preferential financial services to IT, IT-enabled services (ITES) companies and business process outsourcing (BPO) service entities located at Hi-Tech Parks across the country.
The partnership will allow IT, ITES and BPO services operating in the Hi-Tech Parks to avail collateral free credit under the umbrella of Brac Bank SME Banking.
It will be a big boost for the country’s fastest growing sector as they prepare for the next step of expansion against the backdrop of the government’s vision of Digital Bangladesh.
Syed Abdul Momen, Deputy Managing Director & Head of SME Banking at Brac Bank and Bikarna Kumar Ghosh, Managing Director at Bangladesh Hi-Tech Park Authority, signed the agreement at BHTPA’s Head Office in Dhaka on Wednesday.
Nakib Zaman, Regional Head of Distribution Network, Brac Bank, and ANM Shafiqul Islam, director at BHTPA, were also present at the event.
Given Brac Bank’s long-hauling experience and pedigree in collateral-free lending in the CMSME segment, this collaboration is expected to help BHTPA members take off to achieve the full growth potential in the long term.
Commenting on the partnership, Syed Abdul Momen said, “Brac Bank understands the ample opportunities to provide financing with favorable terms to the companies established in the High Tech Parks. With our customised financing solutions, we will help the Bangladeshi tech-based companies grow and expand further. We are thankful to Bangladesh Hi-Tech Park Authority for this partnership and optimistic of enabling growth momentum in the IT sector.”
