BRAC Bank and the Bangladesh Software and Information Services Association have launched a special financial program called Digonto to expand support for BASIS members, a press release said.
The Digonto package will facilitate ICT and ITES companies greater access to finance, business expansion and capital purchases.
Under the Digonto program, BRAC Bank will provide unsecured and partially guaranteed loans of up to Tk 1 crore to eligible BASIS members.
BRAC Bank Managing Director and CEO Selim RF Hussain and BASIS Chairman Syed Almas Kabir launched Digonto in a virtual program on Saturday.
Salman F Rahman, Prime Minister’s Advisor on Private Industry and Investments, attended the program as the main guest.
Bangladesh Bank Deputy Governor Ahmed Jamal and Bangladesh Federation of Chambers of Commerce and Industry President Sheikh Fazle Karim joined the event as special guests.
Syed Abdul Momen, SME Director of BRAC Bank, presented the Digonto package to the audience and explained how the model will support BASIS members.
Salman F Rahman said: “The IT industry is undoubtedly one of the key players in realizing the vision of a digital Bangladesh. Only visionary banks and organizations can take such a daring step and offer such a comprehensive and structured package to extend support to this promising sector. I think it will be an example for others to follow.
Commenting on the occasion, Selim RF Hussain said: “Digonto is not just a loan facility, it is a complete financial package specially designed for BASIS members. It will also facilitate the banking services needed to finance stimulus packages, international payments, facilitate global business and collect export earnings.
Digonto will enable BASIS members to obtain single installment loans and revolving loans in addition to term loans to facilitate custom finance for ICT-based businesses. In addition, BASIS women entrepreneurs will get loans at a rate of only 7 percent.