Tripartite MoU signed to provide home loans

Ministry of Finance has signed a tripartite memorandum of understanding (MoU) with Bangladesh University Grants Commission (UGC) and Janata Bank Limited to provide government loans for housing.

The agreement was signed to start providing government home loans under the loan policy-2019 at the ministry's finance department of the ministry on Tuesday.    

UGC Secretary (additional in-charge) Dr Ferdous Zaman; Additional Secretary of Budget and Macroeconomics of the ministry, Md Ekhlashur Rahman, and freedom fighter and Managing Director of Janata Bank Limited, Md Abdus Salam Azad signed the agreement on behalf of their respective organisations.

Under this agreement, UGC officials and employees will be eligible for home loans ranging from TK 20 lakh to 75 lakhs at 4 percent simple interest. The government will pay the remaining 5 percent interest on the loan for a period of 20 years.

Dr Ferdous Zaman said a government official receives a flat and a car in developed countries, with Malaysia being the only country in Asia where this service is provided.  

This agreement was signed in order to provide home loans for UGC employees, and to implement Prime Minister Sheikh Hasina's vision-2021 by.  

Dr Zaman thanked the finance department of the Finance Ministry and Janata Bank Limited for signing the agreement. He also expressed his gratitude to the Prime Minister for providing loans to UGC officials and employees on convenient terms and conditions. Thanks to this easy home loan agreement, UGC officials and employees will now be able to fulfill their dream of buying their own home, he added.

UGC Joint Secretary Zafar Ahmed Jahangir; Additional Director Mohammad Makshudur Rahman Bhuiyan; Deputy Managing Director of Janata Bank Limited Md Ismail Hossain,  and senior officials of the Finance Department, Janata Bank Limited, Sonali Bank Limited, and Agrani Bank Limited were present on the occasion.