Ambala Foundation, a microfinance institution (MFI), signed an agreement with Bkash Limited so that their 60,000 clients can pay monthly instalments of microcredit through a Bkash account easily and conveniently. Besides, the management of instalment collection will become simpler and more effective for the lender.
Arif Sikder, executive director of Ambala Foundation and Ali Ahmmed, chief commercial officer of Bkash signed the agreement on behalf of the respective organisations in an event organised at Bkash office where other top officials of both the organisations were present.
Established in 1994, Ambala Foundation now has 175 branches and 60,000 members across the country.
The agreement with Bkash will allow the customers of the MFI to pay monthly instalments of loans through the Bkash app as well as the USSD code.
