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.

Under 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.