Community Bank signs agreement with Bangladesh Bank on FICGS

Community Bank Bangladesh PLC has signed a participatory agreement with Bangladesh Bank to join the Financial Inclusion Credit Guarantee Scheme (FICGS).

The scheme is designed to extend credit facilities to marginal and landless farmers, low-income professionals, school banking account holders, and small business owners who struggle to access formal financing due to lack of collateral. Under the FICGS, credit guarantees are provided against eligible loans, reducing risk for participating banks and financial institutions and promoting inclusive financing.

The signing ceremony was held at Bangladesh Bank's main building. Md Sawkatul Alam, Executive Director of Bangladesh Bank, was present as chief guest. Muhammad Nazmul Haque, Director, Credit Guarantee Department (CGD), Bangladesh Bank, and Kimiwa Saddat, Managing Director (current charge), Community Bank Bangladesh PLC, signed the agreement on behalf of their respective organisations.

Also present were Mohammad Imam Hossain, Additional Director, and Zobaida Afroze, Additional Director, CGD, Bangladesh Bank. From Community Bank, Dr Md Ariful Islam, Head of Corporate Banking and Head of Business (Branch); Md Mamun ur Rahman, Head of ADC and Head of MD's Coordination Team; and Sharif Hasan Mamun, Head of SME and Agriculture, attended along with other senior officials.