Prime Bank launches digital loan scheme for RMG workers

Prime Bank Limited has introduced country’s first ever digital loan payment system for readymade garment workers.

The test launching of the loan disbursement started in collaboration with Swisscontact and the British Fin-tech AGAM International early this month for a number of selected factories, said a press release on Wednesday.

According to the release, upon successful completion of the pilot, the bank intends to roll out the service across the country.

The product proposed as ‘PrimeAgrim’ assess customers’ credit eligibility and completes disbursement digitally.

All procedures from loan application to assessing credit worthiness and sanctioning will be digitally executed which will save time and energy, added the release.

Prime Bank Managing Director and CEO Hassan O Rashid said, “Prime Bank has always been at the forefront when it comes to technological innovations. This pilot run bears testament to our strong commitment towards financial inclusion through digital services.”