Premier Bank, SME Foundation sign deal

As a partner bank, Premier Bank signed an agreement with SME Foundation to receive revolving funds under the Stimulus Package announced by the government for distribution among cottage, micro and small (CMS) entrepreneurs.

Syed Nowsher Ali, deputy managing director of Premier Bank Ltd, and Md Mafizur Rahman, managing director of SME Foundation, signed the agreement at the Pan Pacific Sonargaon Dhaka in the capital recently, a press release said.

Under the agreement, the bank will disburse the allotted fund at 4 per cent interest to CMS entrepreneurs across the country's rural and marginal population to accelerate economic recovery from the Covid-19 pandemic fallout and to improve the rural living standard.

Sheikh Mohammad Salim Ullah, secretary of financial institutions division at the ministry of finance, Md Masudur Rahman, chairman of SME Foundation, and Mohammed Emtiaz Uddin, senior executive vice-president of the bank, were present.