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Mohidul Islam, a small entrepreneur who lives in Arif Kha Basudevpur village under Gaibandha district, failed to get only Tk50,000 as loan to set up a pottery in the year of 2018 despite visiting a number of banks.
Then, NRBC Bank came forward with financial support and the entrepreneur secured Tk5 lakh as collateral-free loan from professor colony sub-branch of the new generation bank in the district.
After getting financial support, Mohidul built a pottery in his home and employed 30 people as workers in his small entity.
“I went to various banks and financial institutions for loans while starting up this small business but failed,” he said.
He said that it was easy to get loans from non-governmental organisations (NGOs), but their interest rates are much higher. Loans from other financial institutions were not available due to collateral and other complications, he added.
“Finally, NRBC Bank provided the loan with easy-terms and low-interest.”
Not only Mohidul, but also fifty two thousand small entrepreneurs, including Nur Mohammad from Chandpur, Khaydujaman from Nilphamari, Lipy Khatun from Bogura, and Chand Mia from Rangpur, have become successful in their business with the help of NRBC Bank.
The new generation private commercial bank began its Journey on April 02, 2013 as a scheduled bank with the contributions of 53 expatriate entrepreneurs.
The aim of the bank is to build a hunger-and poverty-free country. As part of its move, the lender launched a special microcredit scheme in March 2021 for providing loan facilities with easy-terms and low-interest for the backward people in remote areas.
The bank officials said that this collateral-free loan facility has been expanded all over the country within a very short time and 52,500 small entrepreneurs have already received the loans. It provided Tk1,500 crore as micro loans from the scheme as of February this year, according to the bank data.
In recognition of the rapid expansion of this service, The Global Economics, a UK-based magazine, has been awarded NRBC as ‘Fastest Growing Micro Finance Bank-2022’.
The bank is setting up sub-branches in rural areas where the bank doesn’t have any branches. The marginal people who fail to get bank loans in a traditional way are being brought under the scheme, said the officials of the bank.
The bank is offering loan products such as Deshgari, Sonali Din, Prabas Bandhu, Banik Seba, Sukhi Bangla, Karigar etc. for micro, cottage and small enterprises against only 5-9 per cent interest rate.
The main objective of this bank is to bring banking services to the doorsteps of all people very easily, said SM Parvez Tamal, Chairman of NRBC Bank.
“We have launched the microloan scheme for the people in remote rural areas who are deprived of banking services.”
NRBC Bank is implementing the microcredit programme as part of our responsibility towards the country and the countrymen, he added.
Bank’s Managing Director and CEO Golam Awlia said that they are implementing the microcredit scheme going beyond traditional banking. “Instead of lending hundreds of crores of taka to a single borrower, we prioritise the needs of marginalised people.”
NRBC Bank started its journey with a sub-branch concept to ensure banking services for the common people. It has 103 branches across the country apart from more than 1,500 sub-branches, booths and various service centres.
The bank has been recognised as the best bank in Asia in six categories twice in a row for innovative banking services.
