Low-Income People And Farmers Get Spot Loans At Bangladesh Bank’s Open Loan Programme In Sunamganj1 min read

A Bangladesh Bank initiative, the Open Loan Programme, was organized in Sunamganj. It offers spot loan facilities to individuals in the low-income bracket and farmers ensuring financial inclusion for marginalized communities in rural areas.

As the lead bank, BRAC Bank organized the event in compliance with Bangladesh Bank’s directive. A total of 26 banks operating in Sunamganj participated in this programme, which was held on October 6, 2024, at Shahid Jogot Jyoti Library in Sunamganj town, said a press release.

Md Iqbal Mohasin, Director of the Financial Inclusion Department (FID) of Bangladesh Bank, Head Office, was the chief guest at the programme. Tanbir Ehsan, Joint Director, Financial Inclusion Department (FID), Bangladesh Bank, Head Office, also attended the event. They distributed spot loans amounting to BDT 1 crore to customers of the participating banks.

Biplab Kumar Biswas, Head of Small Business (North), SME Banking Division; and Rezaur Rahman, Regional Head of Sylhet Region, Distribution Network of BRAC Bank were also present at the event.

This initiative provided an opportunity for no-frill account holders with Tk 10/50/100, landless farmers, and micro business owners to obtain spot loans ranging from BDT 50,000 to BDT 5 lakh. These loans were made available under Bangladesh Bank’s refinancing facility, which had a total worth of BDT 750 crore.

By easily accessing these loans, marginalized individuals can inject capital into their businesses, establish new ventures, secure their livelihoods, and overcome economic hardships. Since most of these businesses are in rural areas, this open loan initiative will generate employment opportunities and revitalize the rural economy.

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