BRAC Bank has signed a Memorandum of Understanding (MoU) to provide the country’s first digital SME loan to thousands of merchants of Delivery Tiger.
Delivery Tiger is the country’s first and popular online courier marketplace, providing logistics solutions to small traders.
This partnership will enable BRAC Bank to provide the country’s first digital SME Loan, ‘Shafollo’ and digital microloan, ‘Jibika’ to the micro merchants of Delivery Tiger across the country. With digital loans, entrepreneurs will be able to avail of paperless instant loans on a 24/7 basis.
The objective of the collaboration is to leverage BRAC Bank’s extensive SME network to cater to the ever-growing smallholder entrepreneurs engaged in e-commerce and emerging business fields at the grassroots level across the country.
Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, BRAC Bank, and A. K. M. Fahim Mashroor, Managing Director & CEO, Delivery Tiger, officially signed the agreement at the bank’s Head Office in Dhaka on December 04, 2023. Senior officials of both BRAC Bank and Delivery Tiger were present during this agreement signing ceremony.
Commenting on the collaboration with Delivery Tiger, Syed Abdul Momen, said, “BRAC Bank has been playing a vital role in country’s financial inclusion since its inception by keeping its major focus on SME financing. This agreement is another milestone that will assist grassroots entrepreneurs with easy access to credit facilities, allowing them to expand their businesses. BRAC Bank’s seamless digital lending platform with its small ticket size credit facilities will contribute significantly to bringing the unbanked and under-banked people under a formal banking system, accelerating the national development. We will continue to adopt digital solutions to provide more convenience to the SME customers.”
ARS
