Mercantile Bank signs participation agreement with Bangladesh Bank under Tk 41,000cr refinance package

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Mercantile Bank PLC (MBPLC) signed a participation agreement with Bangladesh Bank on Thursday to join a Tk 41,000 crore refinance package aimed at boosting large industries, rural economic activities and cottage, micro, small and medium enterprises (CMSMEs).

The agreement was signed on August 27 at a ceremony organised by the Supervisory Data Management and Analytics Department (SDAD) at the conference room of Bangladesh Bank’s main building. Under the agreement, Bangladesh Bank will collect up to Tk 300 crore from Mercantile Bank’s surplus liquidity for a maximum period of three years.

The funds will be used to support agricultural development, rural economic activities and export diversification across the country. The initiative is intended to channel surplus liquidity into productive sectors of the economy.

Bangladesh Bank Deputy Governors Dr Md Kabir Ahmed and Md Sarwar Hossain, Executive Directors Md Enamul Karim Khan and Md Abul Bashar, and SDAD Director Md Abdul Mannan attended the ceremony. Mercantile Bank Managing Director Mati Ul Hasan, Deputy Managing Director Ashim Kumar Saha and Head of Treasury Md Hasanuzzaman Bakshi were also present.