Modhumoti Bank signs credit guarantee deal with PKSF

Modhumoti Bank PLC has signed an agreement with Palli Karma-Sahayak Foundation (PKSF) to avail credit guarantee services under the Credit Enhancement Scheme (CES).

Md Shafiul Azam, managing director and CEO of the bank, and Md Hasan Khaled, deputy managing director of PKSF, signed the agreement at PKSF Bhaban-1 in Agargaon, Dhaka on Monday, according to a press release.

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Under the agreement, Modhumoti Bank will be able to extend credit facilities to PKSF’s CES-enlisted partner organisations (POs).

PKSF will provide a credit guarantee for the credit facilities extended by the bank to the enlisted microfinance institutions (MFIs).

Md Fazlul Kader, managing director of PKSF, chaired the signing ceremony.

Arab Fazlur Rahman, deputy managing director and chief business officer of the bank; Zahid Al Muntasir, head of CMSME business support; and Abu Mohammad Zahed, head of CMSME business, along with other senior officials from both organisations, were also present.