BRAC Bank launches financial solution for BCS members

Published: 01:01, Oct 26,2020


BRAC Bank, in partnership with Bangladesh Computer Samity, has launched a financial solution, Uddom, to support BCS members.

Uddom is a financial solution meant for supporting the ICT sector and nearly two-and-a-half thousand BCS members in their recovery from the consequences of the COVID-19 pandemic, said the bank in a press release.

Uddom will enable BCS members to get unsecured loans of up to Tk 1 crore at 9 per cent interest, while for women entrepreneurs, the interest rate will be 7 per cent.

State minister for information and communication technology Zunaid Ahmed Palak launched the financial solution on a digital platform as the chief guest on Saturday.

State minister Zunaid Ahmed Palak said, ‘We thank BRAC Bank for caring about this sector and coming forward to support the entrepreneurs in this challenging time.’

He also said, ‘We consider BCS as an important stakeholder to achieve the vision of a Digital Bangladesh. I would encourage the BCS members to set up manufacturing and assembling plants for accessories and computer parts as well as smart devices.’

He also said that support would be given to BRAC Bank-funded BCS members to have spaces at the 28 high-tech parks and 64 Sheikh Kamal IT Training Incubation Centres.

SBK Tech Ventures founder Sonia Bashir Kabir said, ‘This will surely help to reduce the four billion credit gap in the SME sector and help the SMEs to become more successful. I would encourage BRAC Bank to simplify the underwritings for the small and medium entrepreneurs.’

On the occasion, BRAC Bank managing director and CEO Selim RF Hussain said, ‘We are the biggest collateral-free lender in the country and we’ll continue this to ensure financial liberty and inclusion and play a positive role in making Bangladesh digital.’

BCS president Md Shahid-ul-Munir and its secretary-general Mohammed Monirul Islam and BRAC Bank SME head Syed Abdul Momen were also present at the launching. — New Age

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