United Commercial Bank PLC recently signed an agreement with Bangladesh Bank under the ‘Digital Nano Loan’ refinance scheme.
Through this agreement, UCB will utilise the Bangladesh Bank’s refinance facility to disburse Digital Nano Loan at lower interest rate through a technology-driven process, creating new opportunities for people who remain outside the reach of conventional financial services.
The initiative seeks to ensure fast, transparent and easily accessible loan services through digital platforms.
Mohammad Mamdudur Rashid, managing director and chief executive officer of UCB, and Md Iqbal Mohasin, director of the Financial Inclusion Department at Bangladesh Bank, signed the agreement on behalf of their respective organizations at the head office of Bangladesh Bank, said a press release.
BB deputy governor Md Habibur Rahman, along with executive director Rup Ratan Pine, among others, attended the event.
Officials expressed optimism that this digital nano loan initiative would accelerate financial inclusion across the country and play a pivotal role in improving the socio-economic conditions of low-income communities.
