NCC Bank PLC has taken a fresh step to help small businesses across the country by signing a participation agreement with Bangladesh Bank. This agreement is part of the Tk5,000 crore CMSME Working Capital Refinance Fund, a program designed to give cottage, micro, small and medium enterprises easier access to working capital.
The goal behind this initiative is simple. Many small business owners struggle to keep their operations running smoothly because they don’t have enough working capital. This fund is meant to ease that pressure so businesses can stay active, grow steadily and use their full production capacity without financial roadblocks.
The signing ceremony brought together senior officials from both institutions. Bangladesh Bank Deputy Governor Md Anis Ur Rahman was present at the event. The agreement itself was formally exchanged by NCC Bank Deputy Managing Director Md Habibur Rahman and Bangladesh Bank SME and Special Programmes Department Director Md Zabdul Islam, who signed on behalf of their respective organisations.
Also attending as guests were Bangladesh Bank Executive Director Nahid Rahman and Additional Director Shahanaj Pervin. From NCC Bank’s side, Senior Vice President and Head of SME and Agri Credit Sharif Mohammad Mahsin joined the ceremony along with other senior officials from both sides.
This refinance fund was created under Bangladesh Bank’s larger Tk60,000 crore economic stimulus package. The main purpose is to reach out to CMSME businesses that are viable and have real growth potential but are held back simply because they lack enough working capital.
Under this scheme, eligible small business owners can get financing at an interest rate capped at 9 percent, depending on the usual policies and conditions set by the bank. This lower rate is expected to make a real difference for entrepreneurs who often find it hard to secure affordable loans.
Officials believe this move will help businesses stay afloat, expand their production and services, and create new job opportunities. In the long run, it is expected to add momentum to the broader economy by keeping small and medium businesses active and financially stable.
With this agreement, NCC Bank has now joined a growing group of banks supporting Bangladesh Bank’s mission to strengthen the CMSME sector, which plays a major role in the country’s overall economic growth.