Sammilito Islami Bank Joins Tk 2,000 Crore Pre-Finance Fund for the Leather Industry
State-owned Sammilito Islami Bank PLC has signed a participation agreement to join Bangladesh Bank's pre-finance scheme for the development of the country's leather and leather goods industry.
The agreement was signed at Bangladesh Bank's head office on Sunday, 1 November, at a ceremony attended by the central bank's Deputy Governor Md Anisur Rahman.
Md Jabdul Islam, director of Bangladesh Bank's SME and Special Programmes Department, and Abedur Rahman Sikder, managing director and chief executive of Sammilito Islami Bank, signed the agreement on behalf of their institutions.
Bangladesh Bank Executive Director Nahid Rahman and senior officials of both institutions were also present at the ceremony.
Under Bangladesh Bank's Tk 2,000 crore pre-finance scheme, term investment facilities at low profit rates will be provided for setting up new tanneries and establishing new industrial effluent treatment plants in the leather industry.
The fund will also support the renovation, expansion and modernisation of existing tannery infrastructure, the construction of new infrastructure for leather goods production, and the renovation and modernisation of existing factories.
In addition, working capital investment facilities for various terms will be provided for purchasing raw materials, paying salaries and allowances and utility bills, and for supporting institutions linked to the leather and leather goods industry.
