Bangladesh Bank and Al-Arafah Islami Bank PLC have signed an agreement under the Tk10,000 crore Agricultural Refinance Scheme, established to increase agricultural production, expand economic activities in rural areas, ensure food security, and create employment opportunities for the rural population.
The agreement was signed on August 19 at an event held at the Bangladesh Bank Head Office.
AKM Saifuzzaman, director, Agricultural Credit Department-2 of Bangladesh Bank, attended the agreement signing ceremony as chief guest.
Also present were Rafiya Sultana, additional director; Md Sakhawat Hossain, joint director; and Md Riaz Mahmud, assistant director of Bangladesh Bank.
Representing Al-Arafah Islami Bank PLC were Monirul Islam, senior vice president & head of SME business division, and Sheikh Asadul Haque, senior assistant vice president & head of agriculture business unit, SME business division.
Under the refinance scheme, expanding financing facilities for the agriculture and rural sectors is expected to play a significant role in increasing agricultural productivity, accelerating agriculture-based economic activities, strengthening food security, and creating employment opportunities for the rural population.
The initiative by Bangladesh Bank is expected to provide farmers, agriculture-based entrepreneurs, and small businesses in rural areas with greater access to financing.
Through this initiative, stakeholders expressed optimism that the overall development of the country's agriculture and rural economy will be further accelerated.
