Prime Bank, BCS join hands to facilitate MSME financing to ICT companies

Prime Bank and Bangladesh Computer Samity (BCS) have joined hands to facilitate MSME financing to ICT companies without any collateral.

The partnership titled “Prime Bank-BCS Alliance to Facilitate MSME Financing to ICT Industry” will enable easy access to finance to the ICT hardware and accessory companies as they prepare for next step of expansion against the backdrop of the government’s vision of Digital Bangladesh, according to a press release.

Eligible BCS members can avail collateral-free loan up to Tk 50 lakh and other tailor-made financing solutions.

Under the arrangement, the IT firms will get working capital (CC, OD and Demand Loan), Term Loans for Fixed Asset Purchase and Capital expenditures, International Trade solution- LC, LATR, IDBP etc., Bank Guarantee, Work Order etc.

They can also avail a wide range of deposit products and free Internet Banking – ALTITUDE - for conducting broad range of e-transaction. They will need two-year business experience and introduction letter from BCS.

The companies can apply for loan from the comfort of their office or home as Prime Bank has assigned dedicated Relationship Manager for exclusive service for valued BCS members.

The partnership between BCS and Prime Bank will create a facilitating business ecosystem for MSME entrepreneurs in ICT industry, who are members of the trade association.

Earlier, Prime Bank has formed financing alliance with key trade associations in the field of ICT and ITES – Bangladesh Association Software and Information Services (BASIS), e-Commerce Association of Bangladesh (e-CAB), Internet Service Providers Association of Bangladesh (ISPAB), Bangladesh Association of Call Center and Outsourcing (BACCO) and Bangladesh Computer Samity (BCS).

Prime Bank Managing Director and CEO Rahel Ahmed and President of BCS Md. Shahid-ul-Munir formally launched alliance through a virtual press conference on July 21, 2020. Private Industry and Investment Advisor to the Prime Minister Salman F Rahman MP joined the program as the Chief Guest.

Commenting on the alliance, Managing Director and CEO, Prime Bank Rahel Ahmed, said, “Prime Bank is fully aligned with the government’s vision of making a Digital Bangladesh as the country sets sight to become a middle income country. ICT hardware and accessory industry holds immense potential for becoming a game changer for Bangladesh economy.”

BCS Vice President Md. Jabedur Rahman, BCS Secretary General Mohammed Monirul Islam, Prime Bank’s Head of MSME Banking Syed M Omar Tayub and Head of Brand and Communications Nazmul Karim Chowdhury were also present.

(Source: UNB)