To promote growth and development of the country’s leather and leather goods industry, Bangladesh Bank and Al-Arafah Islami Bank PLC have signed a Tk2,000 crore pre-finance agreement to ensure investment facilities at low profit rates and on easy terms under Bangladesh Bank’s own fund.
The agreement was signed on September 16 at a ceremony held at the head office of Bangladesh Bank.
Deputy governor of Bangladesh Bank Md Anisur Rahman attended the event as chief guest.
On behalf of their respective institutions, Zabdul Islam, director of the SME & Special Programs Department of Bangladesh Bank, and Mohd Rafat Ullah Khan, managing director of Al-Arafah Islami Bank PLC, signed the agreement on behalf of their respective organization.
Executive director of Bangladesh Bank Md Mojibur Rahman Sheikh attended as special guest.
Also present were Mohammad Saddam Hossain Chowdhury, additional director of Bangladesh Bank; Mohammad Masudur Rahman, joint director; and Sheikh Asadul Haque, senior assistant vice president and head of the agriculture business and refinance Unit at Al-Arafah Islami Bank.
Through this pre-finance scheme, formed under Bangladesh Bank’s own fund, initiatives have been taken to provide necessary financing facilities to the leather and leather goods sector.
As a result, financing opportunities for entrepreneurs in this sector will be expanded, creating greater scope for increasing production and accelerating business activities within the industry.
