Prime Bank and Bangladesh Association of Call Centre and Outsourcing (BACCO) Wednesday joined hands to offer collateral-free loans of up to Tk50 lakh alongside other customised financing solutions to BACCO members focusing the business process outsourcing sector.
The partnership titled "Prime Bank-BACCO Alliance for MSME Financing Solutions" will enable easy access to finance to business process outsourcing (BPO) companies as they strive for market expansion both locally and globally.
Under the partnership, outsourcing firms will get working capital (cash credit, overdraft accountand demand loan), term loans for fixed asset purchase, capital expenditures and international trade solution.
The BPOs also can avail a wide range of deposit products and free internet banking for conducting broad range of e-transactions. To avail the facilities, the BPOs will require two-year business experience and a recommendation from BACCO.
The announcement in this regard came at an online event Wednesday which was attended by Prime Bank Managing Director and CEO Rahel Ahmed and BACCO President Wahidur Rahman Sharif. Planning Minister MA Mannan was connected to the virtual event as the chief guest.
Companies can apply for loans from their office or home as Prime Bank has assigned dedicated relationship manager for the exclusive services to BACCO members.
While commenting on the alliance, Prime Bank CEO Rahel Ahmed said his bank is fully aligned with the government's vision of 'Digital Bangladesh'.
He said, "The outsourcing sector holds huge potentials as the developed countries have resorted to outsourcing the call centres and other BPO services. We hope with the financing solution, the companies will be able to expand their services."
The CEO said Prime Bank is committed to be a part of the thriving sector in its journey towards growth.
Meanwhile, BACCO President Wahidur Rahman Sharif said BACCO has always been working to enhance opportunities for its member organisations and will continue to work for the development of the BPO industry by taking certain initiatives in the future.
He added, "We will take all possible steps to ensure that the BACCO members are able to fully avail the financial incentives announced by the government. We hope other banks will also come forward to assist the promising BPO industry."
Senior Vice President of BACCO Md Abul Khair, BACCO Director Rashed Noman, Head of MSME Banking of Prime Bank Syed M Omar Tayub, Head of Brand and Communications Nazmul Karim Chowdhury, among others, also participated in the event.