Global Islami Bank recently signed a participatory agreement with Bangladesh Bank under the refinance scheme of $300 million provided by the Asian Infrastructure Investment Bank (AIIB) named Covid-19 Emergency and Crisis Response Facility Project (CECRFP) for supporting the credit expansion and reduce liquidity constraints brought on by the pandemic to CMSMEs.
Under this agreement, Global Islami Bank can disburse SME investments to Covid-affected customers at a maximum rate of 4%, reads a press release.
In presence of Abu Farah Md Nasser, deputy governor of Bangladesh Bank, Syed Habib Hasnat, managing director of Global Islami Bank and Md Abdul Wahab, director (CECRFP) of Bangladesh Bank signed the agreement on behalf of their respective organizations.
Dr Md Kabir Ahmed, executive director of Bangladesh Bank, SM Mizanur Rahman, EVP & head of Investment Division of Global Islami Bank along with other top officials of both organizations were also present on the occasion.