Bangladesh Bank, NRBC Bank Sign Tk 2,000 Crore Deal to Support Leather Industry
Bangladesh's leather and leather goods industry is set to receive a Tk 2,000 crore financing boost through a new agreement between NRBC Bank and Bangladesh Bank.
LW Desk
Bangladesh's leather and leather goods industry is set to receive a significant financing boost following a Tk 2,000 crore pre-financing agreement between NRBC Bank PLC and Bangladesh Bank. The initiative aims to improve access to affordable credit for businesses across the sector and support further industrial growth.
The agreement was signed at Bangladesh Bank headquarters in Dhaka on November 1 under a pre-financing scheme funded by the central bank's own resources. The facility is designed to provide low-cost financing on flexible terms to entrepreneurs and businesses operating in the leather and leather goods industry.
Bangladesh Bank Deputy Governor Md Anisur Rahman attended the signing ceremony as chief guest. Md Jabdul Islam, Director of the central bank's SME and Special Programs Department, and Dr Md Touhidul Alam Khan, Managing Director and CEO of NRBC Bank, signed the agreement on behalf of their respective organizations.
Bangladesh Bank Executive Director Nahid Rahman was present as a special guest. NRBC Bank Deputy Managing Director and Chief Business Officer Md Shaheen Howlader and Head of SME and Agri Business Department Md Romjan Ali Bhuiyan also attended the event.
The financing initiative is expected to create greater opportunities for leather sector entrepreneurs by improving access to institutional credit. Affordable financing could help businesses strengthen their production capabilities, expand operations and invest in industrial development.
For Bangladesh's leather and leather goods sector, access to finance remains an important factor in supporting business expansion, improving competitiveness and strengthening its position in international markets.
Through the agreement, Bangladesh Bank and NRBC Bank aim to encourage investment and accelerate commercial and industrial activities across the sector. The Tk 2,000 crore facility is expected to provide additional financial support to businesses seeking to expand their presence in the country's leather industry.
