The City Bank Monday launched a new SME loan product especially for promoting country's women entrepreneurs.
Managing Director and CEO of the commercial bank K Mahmood Sattar officially launched the loan package styled 'City Nokshi' at a city hotel.
Speaking on the occasion, Mr Sattar said the new loan product at 10 per cent interest rate in line with the guidelines of Bangladesh Bank is only available for the women entrepreneurs of the country.
He said the product aimed at promoting the prospective women entrepreneurs so that they can be sensible partners of the women community in business as well as continuing their active participation in social development.
This package will be available at all SME outlets of the bank and clients will be able to apply for loan ranging between Tk 0.1 million and Tk 2.5 million subject to completion of easy and soft conditions, City Bank CEO said.
Head of SME Banking Badrudduza said this package would provide four types of SME loans such as Muldhan, Sheba, Shulov and Munafa. The collateral-free loan is payable within 18 months with Tk 6005.71 monthly installment and partially collateralised loan within 40 months with Tk 2950.08 monthly installment.
Speaking as chief guest, Women Entrepreneurs Association of Bangladesh President Rehana Rahman said collateral-free loan is a good opportunity for women entrepreneurs of the country.
Mrs Kabita Begum, proprietor of K B International, received the first Nokshi loan worth Tk 2.5 million from the CEO of the bank.
Bangladeshi nationals having one and a half years' of experience in any legitimate business supported by trade licence and aged between 24 and 50 years are eligible to apply for the loan.
Deputy Managing Director (Business) Sohail R K Hossain and Head of Brand and Marketing Aftab Mahmood Khurshid, among others, were present on the occasion.
30 November 2009
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