Staff Reporter, Dhaka :  BRAC Bank has signed a memorandum of understanding (MoU) with eCourier to provide the country’s first Digital SME Loan to thousands of merchants of the logistics company.

eCourier Ltd. is the leading logistics company in Bangladesh, owned by dotlines.

Under the partnership, BRAC Bank will provide the country’s first digital SME Loan, ‘Shafollo’ and digital microloan ‘Jibika’, to the micro merchants of eCourier nationwide. With digital loans, entrepreneurs can avail paperless instant loans 24/7.

The collaboration’s objective is to leverage BRAC Bank’s extensive SME network to cater to the ever-growing smallholder entrepreneurs engaged in e-commerce and emerging business fields at the grassroots level across the country.

Syed Abdul Momen, Deputy Managing Director and Head of SME Banking of BRAC Bank, and Biplob Ghosh Rahul, Founder and CEO, eCourier Ltd., signed the agreement at the bank’s head office in Dhaka on November 20, 2023. Senior officials of BRAC Bank and eCourier were present at the signing ceremony.

Expressing his optimism about the partnership, Syed Abdul Momen, said: “Since its inception, BRAC Bank has a particular focus on SME financing with a broader vision of financial inclusion. Our digital loan brings unbanked micro and small entrepreneurs under a formal banking system, driving large-scale financial inclusion and catalyzing national progress. This partnership will give grassroots entrepreneurs easy access to credit using digital tools, helping them expand their businesses. We will continue our transformation journey by using technology to cater to the evolving needs of SME customers.”