Low-income people and farmers get spot loans at Bangladesh Bank's open loan programme in Sunamganj

The Open Loan Programme, a Bangladesh Bank initiative, was not just a financial event. It was a beacon of hope for the marginalized communities in Sunamganj. Offering spot loan facilities to individuals in the low-income bracket and farmers ensured financial inclusion for those who often feel left out in the financial landscape.

As the lead bank, BRAC Bank didn't just organize the event. They led the charge in making financial services more accessible. In compliance with Bangladesh Bank's directive, they brought together 26 banks operating in Sunamganj for this programme, which was held at Shahid Jogot Jyoti Library in Sunamganj town.

Md Iqbal Mohasin, Director of the Financial Inclusion Department (FID) of Bangladesh Bank, Head Office, was the chief guest at the programme. Tanbir Ehsan, Joint Director, Financial Inclusion Department (FID), Bangladesh Bank, Head Office, also attended the event. They distributed spot loans amounting to BDT 1 crore to customers of the participating banks.  

Biplab Kumar Biswas, Head of Small Business (North), SME Banking Division; and Rezaur Rahman, Regional Head of Sylhet Region, Distribution Network of BRAC Bank were also present at the event.

This initiative allowed no-frill account holders with Tk 10/50/100, landless farmers, and microbusiness owners to obtain spot loans ranging from BDT 50,000 to BDT 5 lakh. These loans were made available under Bangladesh Bank's refinancing facility, worth BDT 750 crore.

By quickly accessing these loans, marginalised individuals can inject capital into their businesses, establish new ventures, secure their livelihoods, and overcome economic hardships. Since most of these businesses are in rural areas, this open loan initiative will generate employment opportunities and revitalise the rural economy.