United Commercial Bank PLC (UCB) has solidified its commitment to supporting the growth of Small and Medium Enterprises (SMEs) by entering into two new Participatory Agreements with Bangladesh Bank.
These agreements aim to provide credit guarantee support to CMSME (Cottage, Micro, Small and Medium Enterprises) customers under the Small Enterprise Refinance Scheme for Women Entrepreneurs and the Refinance Scheme for Agro Based Product Processing.
The official signing ceremony took place at the central bank office on Monday.
Nahid Rahman, Director (CGD) of Bangladesh Bank, and Arif Quadri, Managing Director & CEO of UCB, signed the agreement on behalf of their respective sides.
The ceremony was attended by Nurun Nahar, Deputy Governor of Bangladesh Bank, Mohammad Jamal Uddin, Executive Director of Bangladesh Bank, Md Shah Alam Bhuiyan, Deputy Managing Director of UCB, Md. Mohsinur Rahman, Senior Vice President & Head of SME at UCB, and other senior officials from both organizations.
This strategic collaboration between UCB and Bangladesh Bank underscores a shared vision of fostering entrepreneurship and facilitating access to finance for SMEs, particularly those led by women and engaged in agro-based product processing.
Through these agreements, UCB aims to leverage the credit guarantee support provided by Bangladesh Bank to extend financial assistance to CMSMEs, thereby fueling economic growth and promoting sustainable development in Bangladesh.