BRAC Bank partners with BHTPA

BRAC Bank Limited has signed a memorandum of understanding with Bangladesh Hi-Tech Park Authority (BHTPA) to provide preferential financial services to entities located at Hi-Tech Parks across the country.

The partnership will allow IT, ITES and BPO services operating in the Hi-Tech Parks to avail collateral free credit under the umbrella of BRAC Bank SME Banking. It will be a big boost for the country’s fastest growing sector as they prepare for next step of expansion against the backdrop of the government’s vision of Digital Bangladesh.

Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank, and Bikarna Kumar Ghosh, Managing Director, Bangladesh Hi-Tech Park Authority, signed the agreement at BHTPA’s head office in Dhaka on Wednesday last.

Nakib Zaman, Regional Head of Distribution Network, BRAC Bank, and ANM Shafiqul Islam, Director, BHTPA, were also present at the event, the bank said in a statement.

Given BRAC Bank’s long-hauling experience and pedigree in collateral-free lending in CMSME segment, this collaboration is expected to help BHTPA members take off to achieve the full growth potential in the long term.

Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank, said, “BRAC Bank understands the ample opportunities to provide financing with favorable terms to the companies established in the high tech parks. With our customised financing solutions, we will help the Bangladeshi tech-based companies grow and expand further. We are thankful to Bangladesh Hi-Tech Park Authority for this partnership and optimistic of enabling growth momentum in IT sector.”

BRAC Bank is fully aligned with the government’s vision of making a Digital Bangladesh. ICT industry holds immense potential for becoming a game changer for Bangladesh economy. With overwhelming growth over the past two decades, the ICT sector is forecast to emerge as a major foreign currency earner in the next few years. BRAC Bank is committed to be a part of the growth journey of this promising industry, it added.