BRAC Bank recently signed a memorandum of understanding (MoU) with BRAC Kumon, an initiative of the KUMON Institute of Education (KIE), to provide essential financing support for the latter's franchisees.

Under this strategic collaboration, the bank will finance BRAC Kumon franchisees who have reached the peak of their business capacity and need to expand to enhance their capacity and serve more children and students.

Syed Abdul Momen, deputy managing director and head of SME banking at the bank, and Nehal Hasan, chief business officer of BRAC Kumon, penned the MoU at the bank's head office in Dhaka, according to a press release.

"We are privileged to contribute to the mission of imparting knowledge and enhancing education in a unique way through BRAC Kumon," Momen said.

"This aligns closely with BRAC Bank's values and commitment to community development."

"We are thrilled to partner with BRAC Bank to empower women entrepreneurs for the BRAC-Kumon network," said Hasan.

"This collaboration will provide them with the financial support needed to enhance their capacity and drive business growth, contributing to the sustainable academic development of the country."