BRAC Bank has signed a participation agreement with Bangladesh Bank (BB) to avail “Refinance Scheme for Ship Building Industry” in line with the government’s ‘Ship-Building Industry Development Policy 2021’.
This low-cost BDT 2,000 crore Refinance Scheme has been introduced for the development, management and promotion of the ship-building Industry in Bangladesh to ensure sustainable development of the shipping industry, increase export earnings & employment and gradually reduce import dependence, according to a media release.
Arief Hossain Khan, Director, Department of Offsite Supervision, Bangladesh Bank; and Selim R. F. Hussain, Managing Director & CEO, BRAC Bank; signed the agreement at a ceremony at Bangladesh Bank Head Office in Dhaka on January 25, 2023 in presence of A.K.M Sajedur Rahman Khan, Deputy Governor, Bangladesh Bank.
Md. Anwarul Islam, Executive Director, Bangladesh Bank; Tareq Refat Ullah Khan, Deputy Managing Director & Head of Corporate Banking, BRAC Bank; were also present.
As a founding member of Global Alliance of Banking on Values (GABV), BRAC Bank has always been one of the biggest borrowers of various revolutionary funds introduced by Bangladesh Bank, the release says.
Similarly, BRAC Bank aims to channel a sizable portion of this low-cost fund to support top-tier conglomerates and local entrepreneurs; who can utilise Bangladesh’s marine resources, forging an effective partnership for expanding the shipping industry at the domestic, regional and international levels.
