Premier Bank, SME Foundation ink deal for CMSME loan distribution

As a partner bank, Premier Bank has signed an agreement with SME Foundation to receive revolving fund under the stimulus package for distributing among Cottage, Micro, Small and Medium Enterprise (CMSME) entrepreneurs.

Syed Nowsher Ali, deputy managing director of Premier Bank and Md Mafizur Rahman, managing director of SME Foundation, inked the agreement on behalf of their respective organisations in a signing ceremony at a city hotel recently, reads a press release.

Sheikh Mohammad Salim Ullah, secretary of Financial Institutions Division (FID), Ministry of Finance, Dr Md Masudur Rahman, chairman, SME Foundation, Mohammed Emtiaz Uddin, SEVP & head of SME & Agriculture Banking Division of Premier Bank Ltd and senior officials from other partner banks and NBFIs were present at the event.

Under the agreement, Premier Bank will disburse the allotted fund at 4% 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.