BB, Agrani Bank ink deal for providing low interest loans to cinema hall owners

Under the direction of Prime Minister Sheikh Hasina, Tk1,000 crore refinancing scheme by Bangladesh Bank is being undertaken to provide long-term loans/investment at low interest to cinema hall owners for renovation and modernisation of existing cinema halls and construction of new cinema halls with a view to bring back the lost heritage of the domestic film industry.

A Memorandum of Understanding was signed between Agrani Bank Ltd and Bangladesh Bank on Wednesday (21 September) in the conference room of Bangladesh Bank to carry out loan activities under the said scheme.

The agreement was signed by Md Murshedul Kabir, managing director and CEO of Agrani Bank Limited and Md Abdul Mannan, Director of Department of Off-Site Supervision (DOS) on behalf of Bangladesh Bank, reads a press release.

Deputy Governor of Bangladesh Bank AKM Sajedur Rahman Khan, Executive Director and Observer of Agrani Bank Awlad Hossain Chowdhury, General Manager (Credit) of Agrani Bank Limited Dr Md Abdullah Al Mamun and Chief Deputy General Manager of Credit Policy Division Md Abu Hasan Talukder were present in the signing ceremony.

Besides, Bangladesh Bank's respective department's joint director Md Lutful Haider Pasha, joint director SM Khaled Abdullah, senior principal officer of Agrani Bank. Farid Ahmed and other officials of both sides were also present.

It is to be noted that under this scheme, the owners can take loans at an interest rate of only 4.50% for renovation, modernisation and construction of new cineplexes in existing cinema halls.

They will get loan facility up to a maximum of Tk5 crore for renovation or modernisation of existing and up to a maximum of Tk10 crore for construction of new cineplex.