BRAC Bank showcases shafollo digital SME loan at Gazipur meet
BRAC Bank PLC recently organised an entrepreneur conference in Gazipur to showcase its SME digital loan programme Shafollo, described by the bank as the country's first fully digital SME loan facility.
The event brought together more than 200 small and medium entrepreneurs and highlighted BRAC Bank's focus on fast, transparent, and paperless lending. The programme was organised with support from the Gates Foundation.
The gathering marked a milestone in promoting digital financial inclusion, aiming to raise awareness about digital lending solutions that simplify access to finance for small traders and retail shopkeepers, particularly at the grassroots level.
Keep updated, follow The Business Standard's Google news channel
A key highlight of the event was a live demonstration of the Shafollo digital loan process, during which a loan was approved and credited to a customer's account in real time. The demonstration showcased the speed, efficiency, and transparency of the fully digitised lending journey.
The programme also provided a platform for direct interaction with borrowers. Feedback collected from participating entrepreneurs will be used to further improve customer convenience and strengthen the digital loan experience.
Speaking at the event, Syed Abdul Momen, Additional Managing Director and Head of SME Banking at BRAC Bank, said financial inclusion remains a core pillar of the bank's strategy alongside digital transformation. He said eligible SME entrepreneurs are now able to receive Shafollo loans within minutes of submitting their applications.
Senior officials from BRAC Bank's SME Division were present at the programme. Md Ashraful Alam Bachchu, owner of Rahat Corporation and distributor of Unilever Bangladesh in Gazipur, also joined the discussion and exchanged views with participating entrepreneurs.
BRAC Bank's Shafollo programme offers fast, collateral-free loans with minimal documentation, targeting underserved segments of the SME sector. Loan amounts range from Tk 10,000 to Tk 5 lakh. Using AI-based credit scoring, borrower eligibility is assessed digitally and, once approved, funds are disbursed directly to the customer's account. The entire process—from application to disbursement—is completed within minutes.
