BB recognises Brac Bank for agricultural credit disbursement

Bangladesh Bank has recognised Brac Bank for its outstanding role in the successful and timely disbursement of agriculture refinancing credit under the Covid-19 Stimulus Package.

Bangladesh Bank Governor Fazle Kabir handed over a certificate of recognition to Brac Bank's Managing Director and CEO Selim RF Hussain at a ceremony at Bangladesh Bank's Jahangir Alam Conference Hall on Wednesday (18 May), said a press release.

Syed Abdul Momen, deputy managing director and head of SME Banking of Brac Bank, and senior officials of Bangladesh Bank were also present on the occasion.

Bangladesh Bank initiated a Tk5,000 crore refinancing scheme for farmers.

The bank made proactive efforts to help the farmers hit hard by the Covid-19 pandemic secure much-needed funding. The refinancing with a lower interest rate greatly helped the farmers overcome the losses and make a strong comeback, offsetting the impact of the pandemic. Brac Bank's extensive SME network and large team enabled the bank to successfully meet the target in agriculture credit. 

Appreciating Bangladesh Bank's commendation, Selim RF Hussain said, "We appreciate Bangladesh Bank for making Brac Bank an implementation partner of the agriculture refinancing scheme. We express our gratitude for the continuous guidance and policy support from Bangladesh Bank."

"As an SME-focused bank, Brac Bank is committed to ensuring easy access to finance to the entrepreneurs at the grassroots. In view of the pandemic, we have redoubled our efforts to provide much-needed funds to farmers and SMEs. This easy term credit under the refinancing scheme has rejuvenated the agriculture sector, which is the lifeblood of the economy, "he added.