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Prime Bank to give collateral-free loans for BACCO members

Staff Correspondent | Published: 22:40, Jul 08,2020

 
 

Prime Bank and Bangladesh Association of Call Center and Outsourcing (BACCO) on Wednesday launched an alliance to facilitate financing for the entrepreneurs in the field of call centre and outsourcing.

Prime Bank managing director and chief executive officer Rahel Ahmed and BACCO president Wahidur Rahman Sharif formally came up with the announced at an online press meet on Wednesday where planning minister MA Mannan participated as chief guest.

The partnership titled ‘Prime Bank-BACCO Alliance for MSME Financing Solutions’ will enable easy access to finance to business process outsourcing (BPO) companies for their market expansion locally and globally.

Eligible BACCO members would be entitled to avail collateral-free loan up to Tk 50 lakh and other tailor-made financing solutions, said a press release.

Under the arrangement, the BPO/Outsourcing firms will get working capital term loans for fixed asset purchase and capital expenditures, international trade solution, bank guarantee, work order.

It would facilitate the BPO to avail a wide range of deposit products and free internet banking for conducting broad range of e-transaction.

They will need two-year business experience and introduction letter from BACCO.

Commenting on the alliance, 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.’

‘Outsourcing sector holds huge potential as the developed countries resort to outsourcing the call center and other BPO services,’ he said.

Wahidur Rahman Sharif said, ‘BACCO has always been working to upturn the opportunities for member organisations and will continue to work for the development of the BPO industry by taking certain initiatives in the future.’

BACCO senior vice-president Md Abul Khair, Prime Bank MSME Banking head Syed M Omar Tayub, among others, attended the program.

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