BRAC Bank Limited and Sheba Platform Limited have recently signed an agreement and marked the official kickoff of “SME Bondhu” – an SME banking initiative which aims to facilitate MSME’s inclusion into the ever-growing digital commerce.
The objectives of the project are: to leverage BRAC Bank’s network and facilitate women-led SMEs revive their businesses; introduce and promote digital ways of business; train and develop SMEs’ capability to run business in new ways of normal; help SMEs and Women Entrepreneurs attract new customers; promote digital transaction, payments; logistics and delivery; and promote sustainable business approach and ensure long-term profitability.
Sheba Platform is lending their manager solution, where SMEs can conduct businesses online and avail inclusive services like online store, digital bookkeeping, payment and delivery. BRAC Bank SME customers will get a 5% discount in subscriptions, while Women Banking TARA customers will be able to use it for free, a press release said.
Syed Abdul Momen, Deputy Managing Director and Head of SME banking of BRAC Bank, and IlmulHoqueSajib, Chief Operating Officer of Sheba Platform Ltd., signed the agreement on behalf of their respective organizations at the bank’s Head Office in Dhaka on September 28, 2021. Senior officials of BRAC Bank and sManager were also present at the ceremony.
The project is part of the Women Enterprise Recovery Fund (WERF) of the United Nations Capital Development Fund (UNCDF) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). WERF is supported by the Dutch Entrepreneurial Development Bank (FMO), the Government of Canada, and Visa Inc. The Fund is hosted by UNCDF’s Fund Facility Investment mechanism, through the UNCDF Association of Southeast Asian Nations (ASEAN) programme, with support from the Australian Government (DFAT).
