Pvt jobholders to get loan against salary from Bangladesh Finance

Private jobholders registered with SM Fintech can now get advance loan against their salaries from Bangla Finance Limited in urgent need.

Bangla Finance, formerly known as BD Finance, on Monday teamed up with SM Fintech Limited to introduce the service, according to a press statement. Bangladesh Finance Director and Chief Executive Officer (CEO) Md Kyser Hamid, and SM Fintech CEO Arif Sikder signed the agreement on behalf of their respective organisations.

Under the agreement, the financial service will be provided by Bangladesh Finance and technical support will be provided by SM Fintech, said the press statement, adding that the entire process will be completed by an app-based platform called ‘Maine’.

The press statement said Bangladesh Finance introduced the financial service for its clients that offers a quick advance loan against salaries.

As a result of this agreement, if anyone needs money at any time of the month, there will be no need to borrow money from moneylenders at high interest rates. Instead, they can avail an advance loan against their salary for the number of days they have worked in the month.

“The agreement’s goal is to make banking service available to customers’ doorsteps. Additionally, by bringing a big number of consumers under banking, time and money would be saved,” said Kyser Hamid of Bangladesh Finance.

Besides, SM Fintech CEO Arif said they aim to reduce consumer harassment and long wait for banking services.

Group CFO of Bangladesh Finance Md Sajjadur Rahman Bhuiyan, Head of Sustainable Finance Mohammad Kohinoor Hossain, Chief Risk Officer Suman Kumar Kundu and others were also present during the signing ceremony.