Brac Bank, ifarmer team up to expand digital lending for agri-input retailers

BRAC Bank has partnered with iFarmer, an agri-tech company, to extend its digital lending programme, 'Shafollo', to iFarmer's registered agri-input retailers.

Through the collaboration, iFarmer Centre (IFC) retailers will be able to access working capital directly from BRAC Bank's Shafollo platform, the country's first SME digital lending initiative. Loans can be accessed through BRAC Bank's Shubidha app and iFarmer's KriShop app, ensuring a fast, seamless, and fully digital financing experience.

The initiative aims to address the working capital challenges faced by agri-input retailers by enabling instant payments for sourcing inputs, reducing dependence on informal credit, and increasing operational capacity during peak agricultural seasons.

The Memorandum of Understanding and Promoter Agreement were signed on 4 November 2025 in Dhaka by Syed Abdul Momen, Additional Managing Director and Head of SME Banking at BRAC Bank, and Fahad Ifaz, Co-founder and CEO of iFarmer, in the presence of senior representatives from both organisations.

Syed Abdul Momen stated, 'Shafollo is redefining SME financing in Bangladesh. By partnering with iFarmer, BRAC Bank is ensuring that agri-input retailers gain instant, digital access to formal credit—empowering rural entrepreneurs and strengthening the agricultural value chain.'

Fahad Ifaz stated, 'Our agri-input retailers are vital to Bangladesh's agricultural ecosystem. This collaboration with BRAC Bank will make working capital readily available, supporting timely sourcing, smooth operations, and growth across the farming community.'

The partnership highlights BRAC Bank's continued commitment to financial inclusion through digital innovation, enabling small businesses and rural entrepreneurs to access formal credit easily, efficiently, and securely.