Prime Bank PLC has recently inked a deal with the Bangladesh Bank (BB) to utilize the central bank’s refinance facility aimed at digital nano loans. The agreement signing took place at the BB headquarters in Motijheel, Dhaka, where Hassan O Rashid, the CEO of Prime Bank PLC, and Iqbal Mohasin, the director of the Financial Inclusion Department of the Bangladesh Bank, formalized the partnership. This collaborative effort signifies a significant stride towards broadening access to cost-effective digital credit services for marginalized and unbanked sectors of society, aligning with the vision of fostering a Cashless Bangladesh by the Government and the Bangladesh Bank.
Under this refinance program, Prime Bank will be empowered to provide entirely digital loans to qualifying individuals at competitive interest rates, thereby enhancing the accessibility, affordability, and convenience of small-scale credit for people across the nation. The bank has already been offering PrimeAgrim, a comprehensive digital loan solution tailored for retail customers, enabling them to conveniently access a portion of their monthly income as a short-term loan with prompt approval and hassle-free disbursement.
This strategic partnership with the Bangladesh Bank not only reinforces Prime Bank’s dedication to promoting financial inclusion but also supports the bank’s efforts in driving digital transformation within the banking industry and ensuring seamless access to small-scale credit for customers nationwide. The signing ceremony was attended by key figures including Md Habibur Rahman, deputy governor of Bangladesh Bank; Kazi Mutmainna Tahmina, additional director; Rup Ratan Pine, executive director; M Nazeem A Choudhury, deputy managing director of Prime Bank PLC; and AZM Fouz Ullah Chowdhury, head of digital channels.