SBAC Bank inks deal to tap BB’s Tk 500cr startup fund

SBAC Bank PLC has signed an agreement with Bangladesh Bank (BB) to participate in the central bank's Tk 500 crore Start-up Refinance Fund, aimed at promoting innovation and supporting the development of new entrepreneurs.

SM Mainul Kabir, managing director and chief executive officer of SBAC Bank PLC, and Nawshad Mustafa, director of the SME and Special Programmes Department of the Bangladesh Bank, signed the agreement at the BB headquarters in Motijheel, Dhaka yesterday, according to a press release.

Nurun Nahar, deputy governor of the Bangladesh Bank, attended the ceremony as the chief guest.

Among others, Husne Ara Shikha, executive director of the central bank; Md Altaf Hossain Bhuyan, deputy managing director of SBAC Bank PLC; and Md Abdul Mannan, executive vice-president and head of the credit division, were also present.