Brac Bank has introduced an innovative financial product called Tally Loan – ‘Druti’ to promote greater financial inclusion in Bangladesh. This business loan is designed specifically for small traders, often overlooked by formal financial institutions, reads a press release. With over eight million businesses lacking access to formal credit and secure banking services, Brac Bank is bridging the gap in the underserved market segment. Tally Loan – ‘Druti’ is based on the traditional bookkeeping books of small traders called Tally Khata, which has been used in Bangladesh for over a thousand years. Small business owners can now use their Tally Khata as proof of transactions and creditworthiness to apply for a bank loan. Brac Bank’s Relationship Officers visit small businesses, assess their credit needs based on Tally Khata records, and fill out loan applications.
