Jamuna Bank PLC Signs Participation Agreements with Bangladesh Bank under Two Refinance Schemes

Jamuna Bank PLC has signed two important Participation Agreements with Bangladesh Bank under the Financial Sector Fund for the Development of Micro, Small and Medium Enterprises (FSFDSMEs) and Cluster Financing Scheme. The signing ceremony was held yesterday at the Jahangir Alam Conference Hall, Bangladesh Bank Head Office. Under these initiatives, Cottage, Micro, Small and Medium Enterprises (CMSMEs) across the country will be able to access financing at an affordable interest/profit rate of up to 7% under easy terms and conditions.

The initiative is expected to play a significant role in promoting industrialization, generating employment, and fostering inclusive economic growth across the country. The ceremony was attended by Ms. Nurun Nahar, Deputy Governor of Bangladesh Bank; Mr. Naushad Mostafa, Director of the SME and Special Programs Department; along with other senior officials of Bangladesh Bank. Representing Jamuna Bank PLC were Mr. Noor Mohammed, Deputy Managing Director and Chief Business Officer, and Mr. N H M Nusrat, Head of SME Business. Through these agreements, Jamuna Bank PLC will be able to more effectively channel Bangladesh Bank’s low-cost refinancing facilities to small and medium entrepreneurs throughout the country, thereby contributing to the development and expansion of the CMSME sector.