City Bank Ltd yesterday launched “City Nokshi,” the bank's SME loan product tailor-made for women entrepreneurs.
K Mahmood Sattar, managing director and chief executive officer of the bank, launched the product at a ceremony in Dhaka, where Rehana Rahman, president of the Women Entrepreneurs Association of Bangladesh, was present as chief guest.
The bank has set a 10 percent interest rate a year on the gender-specific loan in line with the guidelines of Bangladesh Bank.
It will be available at SME outlets of the bank, where a client can apply for loans of up to Tk 25 lakh.
At the ceremony, Kabita Begum, proprietor of KB International, received the first offer letter from the CEO of the bank.
"The new loan product is aimed to promote the prospective women entrepreneurs to explore their potentials in the business industry," the bank said in the statement.
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