BP Business Desk
Prime Bank Limited and Bangladesh Computer Samity (BCS) has 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.
It will be a big boost for the country’s booming ICT/ITES industry as eligible BCS members can now 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 thousands of MSME entrepreneurs in ICT industry, who are members of the trade association.
Prime Bank is the only bank in Bangladesh to have 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’s leadership in ICT financing coincides with a number of prestigious international accolades for the bank such as ‘Best Digital Digital Bank’ from AsiaMoney, ‘Excellence in Leadership in Asia 2020’ from Euromoney and ‘Best Bank in Bangladesh’ Awards from Global Finance all in 2020, the year that marks 25 years of fabulous journey of the bank.
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 Hon’ble 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. We are so proud that we have been able to form partnerships with key trade associations in the field of ICT and ITES – BASIS, e-CAB, ISPAB, BACCO and now with BCS.
This partnerships bear testimony to Prime Bank’s strong commitment to the growth journey of promising ICT and ITES industry.”
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. In view of the COVID-19 outbreak, the bank conducted the event through virtual media as part of its efforts to reinforce social distancing.
