BRAC Bank has signed a memorandum of understanding (MoU) to provide the country’s first digital SME loan to thousands of merchants of aamarPay. AamarPay is leading online payment gateway and fintech company offering payment gateway solution for SME and large enterprises.
Under the partnership, BRAC Bank will provide the country’s first digital SME Loan ‘Shafollo’ and digital micro loan ‘Jibika’ to the micro merchants of aamarPay across the country. With digital loans, the entrepreneurs will be able to avail paperless instant loan 24/7.
The objective of the collaboration is to leverage on BRAC Bank’s extensive SME network to cater to the ever-growing smallholder entrepreneurs engaged in ecommerce and emerging business fields at grassroots level across the country.
Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, BRAC Bank, and Ishtiaque Sarwar Managing Director,aamarPay, signed the agreement at the bank’s head office in Dhaka on November 21, 2023. Senior officials of BRAC Bank and aamarPaywere present at the signing ceremony.
