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Micro loans are essential for expansion of e-commerce: BRAC Bank director

Reported by: Tofazzal Hosne

Written by: Tanzim Taqrim
Managing Director (MD) and Chief Executive Officer (CEO) of BRAC Bank Selim R. F. Hossain said “We are Bankers, we have no idea about ICT but I can say that ICT will lead in the future. There is a problem of investment in this sector. Therefore, micro loan is necessary for the expansion of e-commerce businesses.” He said these at the signing ceremony of the BRAC Bank Bagdoom Merchant Financing Platform: Empower at the head office of BRAC Bank in Tejgaon on Wednesday. According to the agreement, BRAC Bank will provide ‘low interest’ loans to the Bagdoom customers. Bagdoom dotcom Chairman Shamim Ahsan, Head of SME Banking Division of BRAC Bank Syed Abdul Momen, Bagdoom’s Chief Executive Officer Mirajul Haque were present at the signing ceremony.
Later, the two organizations enclosed the details of the agreement to the media. Selim R. F. Hossain said that BRAC bank is offering special loans considering e-commerce as no other banks in the country offers any benefit for e-commerce. Henceforth, small entrepreneurs and e-commerce traders can expand their business as it will enable domestic products and vendors to compete with foreign markets.

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