Mercantile bank, Ifad motors sign deal for EMI benefits
Mercantile Bank PLC has signed an agreement with IFAD Motors Ltd on 17 August 2025 at the bank's head office in Dhaka.
Dr Zahid Hossain, Deputy Managing Director and Chief Business Officer of Mercantile Bank, and Muidur Rahman Tanvir, Head of Business of IFAD Motors, signed the agreement on behalf of their respective organizations.
Under the agreement, Mercantile Bank credit card holders will be able to enjoy a 0% EMI facility ranging from three to 24 months for any purchase made from IFAD Motors.
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The signing ceremony was attended by senior officials from both organisations, including Mostafizur Rahman, Head of Card and ADC; Mohammad Faruque Ahmmed, Head of Corporate Banking Division; Md Mukitul Kabir, Head of Corporate Affairs Division; and Tapon James Rozario, Head of ILMD of Mercantile Bank. From IFAD Motors, Md Rabiul Haque, Head of Sales and Marketing; M A Aziz, Head of Commercial and Banking; and Md Masud Hossain Mizi, Senior Manager of Accounts and Finance, were present, alongside other officials.
The collaboration is expected to provide greater convenience to customers by offering flexible repayment options while strengthening business ties between Mercantile Bank and IFAD Motors.
