In a move to bolster the growth of innovative technology startups, SBAC Bank has granted a loan of Tk. 70.00 Lac to PEARS Global Limited from its dedicated startup fund. On Tuesday, June 20, 2023, the Bank's Managing Director & CEO, Mr. Habibur Rahman, ceremoniously presented the loan approval letter to PEARS Global Limited's CEO, Mr. ABM Amir Khosru, at the SBAC Bank's Head Office.
The occasion was graced by the presence of the Bank's Deputy Managing Director, Md. Abdul Matin and Md. Altaf Hossain Bhuyan, along with other senior bank executives. This startup fund, established from SBAC Bank's operational profits, aims to support new entrepreneurs in the IT sector, following the directive of Bangladesh Bank. Beneficiary startups can avail of loans from this fund at a minimal interest rate of 4 percent.
Furthermore, the central bank has introduced a refinance scheme worth Tk. 500 crore to further enhance the support structure for the sector.