Bank Asia signs deal on Challenge Fund

Bank Asia signed a contract with Nathan Associates London Limited recently to implement the Challenge Fund titled “Business Finance for the Poor in Bangladesh (BFP-B)” under project “DIGANTA” on behalf of the UK Department for International Development (DFID), funded by UK aid from the UK Government.

Press-PhotoUnder the scope of this contract, Bank Asia will utilize the grant fund for development of IT & Business Infrastructure to finance in Micro & Small Enterprises (MSEs) through Agent Banking channel to expedite financial inclusion and create a platform for the rural entrepreneur to get access to finance.

Mr. Md. Mehmood Husain, President & Managing Director of Bank Asia and Mr. Chris August, Team Leader of BFP-B signed the agreement on behalf of respective sides. Challenge Fund Manager of the BFP-B Mr. Anwaruddin Chowdhury, FCA, Deputy Managing Directors of the Bank Mr. Md. Arfan Ali and Mr. Muhammed Zahirul Alam and Senior Executive Vice President & Head of MSME & Agri Mr. Sarder Akhter Hamed and other officials of both the organization were present.