Market Digest

BRAC Bank launches ‘Prothom Account’ for SMEs

Staff Correspondent

1 June, 2021 12:00 AM printer

BRAC Bank has launched 'Prothom Account' to cater to the banking needs of the aspiring new entrepreneurs across Bangladesh.

'Prothom Account' is basically a personal current account for SME entrepreneurs following Bangladesh Bank's circular last year, a press release said.

The account can be opened by any CMSME-sized business owners with a lowered opening balance and minimum document requirement. Women entrepreneurs would be provided additional benefits of TARA, a dedicated banking platform for women.

Syed Abdul Momen, Head of SME at BRAC Bank, said, "The purpose of this new current account is to provide banking facilities to the micro and small business owners, new business owners and online business owners who often do not have a trade license.

'Prothom' account’ will greatly help us in realizing our agenda of financial inclusion of the unbanked." No trade license will be required for opening ‘Prothom’ Account. An account can be opened with only Tk 500 opening balance and the interest will be calculated on the daily balance which would be credited half-yearly. Also, the account holders would also be provided with a debit card with no issuance fees.