Brac Bank, Sheba Platform launch ‘SME Bondhu’ to facilitate digital commerce
Brac Bank Limited and Sheba Platform Limited have signed an agreement and marked the official kickoff of "SME Bondhu", a small and medium-sized enterprises (SMEs) banking initiative, aimed to facilitate SMEs inclusion into the ever-growing digital commerce.
Syed Abdul Momen, deputy managing director and head of SME Banking of Brac Bank, and Ilmul Hoque Sajib, chief operating officer of Sheba Platform Ltd, signed the agreement on behalf of their respective organisations at the bank's head office in Dhaka on 28 September, said a press release.
According to the press release, the objectives of the project are- to leverage Brac Bank's network and facilitate women-led SMEs, introduce and promote digital ways of business, train and develop SMEs' capability, promote digital transaction, payments, logistics and delivery and promote sustainable business approach and ensure long-term profitability.
Sheba Platform is lending their sManager solution, where SMEs can conduct businesses online and avail inclusive services like online store, digital bookkeeping, payment and delivery.
Keep updated, follow The Business Standard's Google news channel
Brac Bank SME customers will get a 5% discount in subscriptions and Women Banking TARA customers will be able to use it for free.
The project is part of the Women Enterprise Recovery Fund (WERF) of the United Nations Capital Development Fund (UNCDF) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
WERF is supported by the Dutch Entrepreneurial Development Bank (FMO), the Government of Canada, and Visa Inc.
The Fund is hosted by UNCDF's Fund Facility Investment mechanism, through the UNCDF Association of Southeast Asian Nations (ASEAN) programme, with support from the Australian Government (DFAT).
