Bank Asia signs for Agri Value Chain

Bank Asia signed a tri-partite agreement with Agro-Input Retailers Network (AIRN) and NAAFCO, an agricultural input marketing company to offer credit facilities to their agri beneficiaries in southern regions of Bangladesh. The facilities include business to business (B2B) transfer and payment services to the prospective input retailers of AIRN, managed by USAID’s Agro-Inputs Project, and distributors of NAAFCO.

Mr. Mohammed Zahirul Alam, Deputy Managing Director of the Bank, Mr. Zunaed Rabbani, IMG_1710CEO of AIRN and Mr. Md. Saiful Huda, Director, NAAFCO Group signed the agreement on behalf of respective organizations at a function held at the Corporate Office of Bank Asia at Purana Paltan, Dhaka on Wednesday (February 22, 2017) in presence of Mr. Md. Arfan Ali, President & Managing Director of Bank Asia.

Mr. Alexis Ellicott, Chief of Party, USAID’s Agro-Inputs Project (AIP) implemented by CNFA, Mr. Josh Woodard, Regional ICT & Digital Finance Advisor of FHI 360 of USAID, Mr. Md. Serajul Islam, CEO of ERA Info Tech Ltd and Mr. Ahsan Ul Alam, Vice President and Head of Agent Banking Division of Bank Asia were, among others, present.

It is mentionable that Bank Asia’s credit facilities for AIRN and NAAFCO is considered as a strong move towards financial inclusion for agricultural value chain actors and an impetus to their business promotion and expansion. The `mSTAR’ program of `FHI 360 Project helps modalities of the credit facilities.