News & Events

IFIC Bank distributed loans to 2500 CMSME entrepreneurs in a day

Date: 20 September 2022

In order to increase employment and achieve economic development of the larger population of Bangladesh, Bangladesh Bank has formed a refinancing scheme to ensure credit facility at low interest and easy terms to the cottage, micro, small and medium industries- CMSME sector. Under this scheme, IFIC Bank distributed loans to 2500 CMSME entrepreneurs across the country through all its shakha-uposhakha. To commemorate this occasion, an inaugural program titled 'Glorious Journey of CMSME Loan Refinancing Scheme Distribution' was held today at the IFIC Tower located in Purana Paltan, Dhaka. This program was officially inaugurated by the creator of this scheme, Mr. Abdur Rouf Talukder, Honorable Governor of Bangladesh Bank as the chief guest. Mr. A. R. M. Nazmus Sakib, Director of IFIC Bank, presided over the event, in the presence of Managing Director and Chief Executive of IFIC Bank, Mr. Shah A Sarwar and Deputy Governor of Bangladesh Bank, Mr. Abu Farah Md. Nasser. Directors and senior officials of IFIC Bank, senior officials of Bangladesh Bank, various professionals and journalists were also present at the event.

The chief guest of the program Hon’ble Governor Mr. Abdur Rauf Talukder gave special emphasis on the potential and contribution of the SME sector to the economy of Bangladesh. He said that he is elated by the fact that IFIC Bank is the first to start distributing loans under this scheme announced by Bangladesh Bank. He thanked all the officers of IFIC Bank, especially the managing director and the directors of the bank. According to him, in the context of Bangladesh, the SME sector is the heart of the country. The Government and Bangladesh Bank have given special attention in strengthening the SME sector with the aim of creating more employment with less money. Aside from that, maintaining economic balance in post Covid-19 pandemic is also an objective of the said scheme. Therefore, in his opinion, they have formed this loan refinancing scheme with very low interest and ease to boost the village-based economy.


In his speech, Mr. Shah A Sarwar, Managing Director and CEO of IFIC Bank said that, IFIC Bank has taken long-term steps with the support of Bangladesh Bank 10 years ago, today's program is a milestone in that step. IFIC Bank is implementing international best banking practices to suit the culture of Bangladesh with the aim of long-term sustainable development in the banking sector. With the support of Bangladesh Bank, they have spread across the country with more than 1,100 shakha-uposhakha to connect the masses to bring stability to the mainstream economy. They have developed general people-friendly banking products for the masses. So, according to him, they were ready with their extensive network and products. Meanwhile, this scheme of Bangladesh Bank has opened the door of a breakthrough possibility for the common people. A massive positive change is going to happen in the country's economic sector. For this, he has expressed his sincere gratitude and thanks to Mr. Abdur Rouf Talukder, the visionary of this scheme, and the Hon’ble Governor of Bangladesh Bank.

In the event, Mr. Abdur Rouf Talukder, Hon’ble Governor of Bangladesh Bank directly handed over the loan documents to some customers of IFIC Bank.