Prime Bank PLC has recently signed a memorandum of understanding (MoU) with the Bangladesh Bank with the objective of providing training to marginal, cottage, micro, small, and medium enterprise (CMSME) entrepreneurs across the country.

The initiative aims to equip them with modern business knowledge and practical skills.

The programme forms part of the Skills for Industry Competitiveness and Innovation Programme (SICIP), which is funded by the Asian Development Bank.

Nurun Nahar, deputy governor of the BB, attended the MoU signing ceremony held recently at the central bank's headquarters in Motijheel, Dhaka, according to a press release.

Under the programme, Prime Bank will deliver comprehensive training to CMSME entrepreneurs covering a broad spectrum of essential topics, including financial literacy, bookkeeping, document management, as well as product marketing and promotion.

These sessions will be conducted by seasoned professionals, with the aim of enabling entrepreneurs to gain access to formal banking services.

As a Participatory Financial Institution (PFI), Prime Bank will work in collaboration with other participating financial institutions to develop a pool of trained, finance-ready entrepreneurs by 2027.

Md Nazrul Islam, additional director and programme director of SICIP-PIU at the Bangladesh Bank, and Nazeem A Choudhury, deputy managing director of Prime Bank, along with senior officials from both institutions, were also present.