Standard Bank signs agreement with Bangladesh Bank under Tk5,000cr refinance for agriculture

Standard Bank Limited signed an agreement with the Bangladesh Bank as a participating organisation for distributing investments amounting to Tk5,000 crore under a refinancing scheme formed by the central bank to ensure the country's food security.

Under this agreement, Standard Bank will be able to disburse agricultural investment to small, marginal and lease farmers at a maximum rate of 4%, said a press release.

A signing ceremony was held on 8 January at Jahangir Alam Conference Room of Bangladesh Bank.

Governor of Bangladesh Bank Abdur Rouf Talukder, Managing Director & CEO of Standard Bank Khondoker Rashed Maqsood and Director of Agricultural Credit Department of Bangladesh Bank Md Abul Kalam Azad signed the agreement on behalf of their respective organisations.

Deputy Governor AKM Sajedur Rahman Khan along with senior officials of the Bangladesh Bank were also present.